GlobalFoundries Announces New York Advanced Packaging and Photonics Center January 17, 2025 First of-its-kind center will offer advanced packaging and test capabilities in New York for U.S.-made essential chips used in AI, automotive, aerospace and defense, and other applications MALTA, NY, January 17, 2025 — GlobalFoundries (Nasdaq: GFS) (GF) today announced plans to create a new center for advanced packaging and testing of U.S.-made essential chips within its New York manufacturing facility. Supported by investments from the State of New York and the U.S. Department of Commerce, the first-of-its-kind center aims to enable semiconductors to be securely manufactured, processed, packaged and tested entirely onshore in the United States to meet the growing demand for GF’s silicon photonics and other essential chips needed for critical end markets including AI, automotive, aerospace and defense, and communications. Growth in AI is driving the adoption of silicon photonics and 3D and heterogeneously integrated (HI) chips to meet power, bandwidth and density requirements in datacenters and edge devices. Silicon photonics chips are also positioned to address power and performance needs in automotive, communications, radar, and other critical infrastructure applications. To meet this growing demand, GF’s New York Advanced Packaging and Photonics Center is expected to offer: Advanced packaging, assembly and testing for GF’s differentiated silicon photonics platform, which brings together optical and electrical components on a single chip to realize power efficiencies and performance advantages. Full turnkey advanced packaging, bump, assembly and testing for aerospace and defense customers under GF’s Trusted Foundry accreditation, allowing chips used in sensitive national security systems to never leave the U.S. during production. New production capabilities for the advanced packaging, wafer-to-wafer bonding, assembly and testing of 3D and HI chips using GF’s 12LP+, 22FDX®, and other leading platforms. “We’re proud to partner at the state and federal level on this new center, which is a direct response to our customers asking for more geodiversity in their supply chains and additional support with advanced packaging solutions for GF silicon photonics, Trusted, and 3D/HI offerings,” said Dr. Thomas Caulfield, president and CEO of GF. “The New York Advanced Packaging and Photonics Center will be unique in our industry and will play a vital role in the continued growth of the Empire State’s world-class semiconductor manufacturing and innovation ecosystem.” The New York Advanced Packaging and Photonics Center aims to expand GF’s advanced packaging capabilities – the process of transforming chips into individual packages ready for end-product use – to provide customers an end-to-end U.S.-based solution for chips made at GF’s New York manufacturing facility. Across the semiconductor industry, most advanced packaging today takes place in Asia. GF’s overall investment in the New York Advanced Packaging and Photonics Center is expected to be $575 million, with an additional $186 million investment in research and development over the next 10-plus years. These efforts are expected to create approximately 100 new full-time GF jobs in New York over the next five years. New York state will provide up to $20 million in new support for the new center, which is in addition to the previously announced $550 million in support for GF from the New York State Green CHIPS program. The U.S. Department of Commerce will provide up to $75 million in direct funding to support the center, supplementing the previously announced GF award under the CHIPS and Science Act. GF employs approximately 2,500 people at its Malta, New York, fab and has invested more than $16 billion in the facility since it opened in 2011. GF’s New York fab has Trusted Foundry accreditation and manufactures secure chips in partnership with the U.S. government. About GF GlobalFoundries (GF) is a leading manufacturer of essential semiconductors the world relies on to live, work and connect. We innovate and partner with customers to deliver more power-efficient, high-performance products for the automotive, smart mobile devices, internet of things, communications infrastructure and other high-growth markets. With our global manufacturing footprint spanning the U.S., Europe, and Asia, GF is a trusted and reliable source for customers around the world. Every day, our talented and diverse team delivers results with an unyielding focus on security, longevity and sustainability. For more information, visit www.gf.com. ©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. or its subsidiaries. All other trademarks are the property of their respective owners. Forward-looking Information This press release includes “forward-looking statements” that reflect our current expectations and views of future events. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding our financial outlook, future guidance, product development, business strategy and plans, and market trends, opportunities and positioning. These statements are based on current expectations, assumptions, estimates, forecasts, projections and limited information available at the time they are made. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” “outlook,” “plan,” “aim,” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a broad variety of risks and uncertainties, both known and unknown. Any inaccuracy in our assumptions and estimates could affect the realization of the expectations or forecasts in these forward-looking statements. For example, our business could be impacted by geopolitical conditions such as the ongoing political and trade tensions with China and the wars in Ukraine and Israel; domestic political developments, including with respect to the incoming U.S. presidential administration; the market for our products may develop or recover more slowly than expected or than it has in the past; we may fail to achieve the full benefits of our restructuring plan; our operating results may fluctuate more than expected; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; a network or data security incident that allows unauthorized access to our network or data or our customers’ data could result in a system disruption, loss of data or damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; global economic conditions could deteriorate, including due to increasing interest rates, rising inflation and any potential recession; and our expected results and planned expansions and operations may not proceed as planned if funding we expect to receive (including the awards under the CHIPS and Science Act and New York State Green CHIPS Program) is delayed or withheld for any reason. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. These statements are based on our historical performance and on our current plans, estimates and projections in light of information currently available to us, and therefore you should not place undue reliance on them. Although we believe that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events. Investors are urged to review in detail the risks and uncertainties discussed in our 2023 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. Media Contact: Michael Mullaney[email protected]
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GlobalFoundries and IBM Announce Settlement and Resolution of All Litigation Matters January 2, 2025 Settlement paves the way for potential future collaboration MALTA, NY and ARMONK, NY, January 2, 2025 – GlobalFoundries (Nasdaq: GFS) (GF) and IBM (NYSE: IBM) today announced that the two companies have reached a settlement in their ongoing lawsuits, resolving all litigation matters, inclusive of breach of contract, trade secrets and intellectual property claims between the two companies. This settlement marks the end of an ongoing legal dispute and allows the companies to explore new opportunities for collaboration in areas of mutual interest. The details of the settlement are confidential and both parties have expressed satisfaction with the outcome. “We are pleased to have reached a positive resolution with IBM, and we look forward to new opportunities to build upon our long-standing partnership to further strengthen the semiconductor industry,” said Dr. Thomas Caulfield, president and CEO of GF. “Resolving these disputes is a significant step forward for our companies and will allow us to both focus on future innovations that will benefit our organizations and customers,” said Arvind Krishna, Chairman and CEO of IBM. About GF GlobalFoundries (GF) is a leading manufacturer of essential semiconductors the world relies on to live, work and connect. We innovate and partner with customers to deliver more power-efficient, high-performance products for the automotive, smart mobile devices, internet of things, communications infrastructure and other high-growth markets. With our global manufacturing footprint spanning the U.S., Europe, and Asia, GF is a trusted and reliable source for customers around the world. Every day, our talented and diverse team delivers results with an unyielding focus on security, longevity, and sustainability. For more information, visit www.gf.com. ©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. or its subsidiaries. All other trademarks are the property of their respective owners. Forward-looking Information This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. About IBM IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information. Media Contact: Erica McGillGlobalFoundries[email protected] Adam PrattIBM[email protected]
2024: a year of “Shaping What’s Essential” at GF December 20, 2024 As the new year approaches, Foundry Files takes a look back to reflect on the many wins and milestones celebrated by GlobalFoundries (GF) in 2024. From shaping what’s essential, to partnering with customers, to pushing forward our semiconductor technologies and empowering our global team, 2024 was a year to remember. CHIPS and Science Act GF CEO Dr. Thomas Caulfield Following an announcement in February of an initial agreement, the U.S. Department of Commerce in November announced an award of up to $1.5 billion in direct funding to GF through the CHIPS and Science Act. The funding will enable GF to expand its essential chip manufacturing and technology development in the U.S., with three major projects in New York and Vermont that will strengthen supply chains and support our customers across a range of vital end-markets including automotive, smart mobile devices, IoT, datacenters, and aerospace and defense. As GF CEO Dr. Thomas Caulfield said: “GF’s essential chips are at the core of U.S. economic, supply chain and national security. We greatly appreciate the support and funding from both the U.S. Government and the states of New York and Vermont, which we will use to ensure our customers have the American-made chips they need to succeed and win.” Read more at CNBC, Reuters, or New York Times. Strengthening the auto supply chain with Infineon GF’s manufacturing facility in Dresden, Germany In early 2024, GF and Infineon Technologies announced of a long-term agreement for a supply of Infineon’s AURIX automotive microcontrollers as well as power management and connectivity chips. The collaboration spans two continents and provides Infineon with additional manufacturing for a more resilient auto supply chain. The two companies have been partnering since 2013 on a range of chip technologies for auto, industrial and security applications. With the new agreement, GF secured Infineon as a key long-term customer across multiple geographies, and particularly in Europe where the automotive industry has been an important contributor to innovation and economic growth. The expanded collaboration underscores the criticality of a global manufacturing footprint that enables GF to partner with customers to meet their capacity needs, where they need it. Driving innovation on the road, in space, and connecting us all GF-made essential chips are at the forefront of space exploration. They’re enabling smarter and more connected devices, and helping to shape what’s essential in the auto industry. They’re also empowering our customers to create devices and technologies necessary for building a more resource-efficient and sustainable future. Don’t miss these articles to learn more: Driving automotive innovation on the semiconductor superhighway | GFs’ next-generation technology will shape what’s essential in the auto industry It’s No Vacation for Chips on Mars | GF-made essential chips are at the forefront of space exploration, providing the capabilities, quality, security, and reliability needed to undertake critical missions in the harsh environment of space How silicon photonics is speeding up generative AI | What’s unique to GF’s offerings is the monolithic integration of both the optical and electrical components onto a single die GF’s essential chips enable sustainability | GF-made chips are helping to build a healthier, safer and more sustainable world Shaping what’s essential “We make chips that power the world,” says Amin Glass, an engineer at GF. This powerful statement is at the heart of the “We Shape What’s Essential” campaign launched by GF in 2024. It starts with questions: What makes our world smarter, faster, safer and more connected? What lets you feel secure, whether you’re at home or on the move? The answer is clear: essential chips do. That’s what our new campaign is all about. Showcasing GF’s role in bringing innovations to life, and partnering with customers to enabling how we live, work and connect, and celebrating GF employees who each play a role in shaping what’s essential. Read more on our blog: “What Do We Mean When We Say ‘Essential’?” 22FDX— the star of GF’s new collaboration with NXP Building on years of working together, GF and NXP announced a new collaboration to drive next-generation semiconductor solutions across a range of end markets including automotive, IoT and smart mobile devices. The collaboration leverages GF’s 22FDX process technology platform and global manufacturing footprint to optimize the power, performance and time-to-market of NXP’s solutions. GF’s 22FDX chips will be manufactured in Dresden and Malta, New York, providing NXP geographically diverse supply for their customers. As GF Chief Business Officer Niels Anderskouv said: “Our close collaboration for over a decade has been a testament to the strength of our shared vision and commitment. As we move forward, we’re excited to build on this foundation and further enable NXP’s next-generation solutions with high-power efficiency and optimal performance, without customers needing to compromise on either.” Purpose-built for intelligence at the edge, 22FDX optimizes energy management to deliver up to 50% higher performance and 70% less power used versus other planar CMOS technologies. The platform optimizes performance by dynamically adjusting to the lowest possible voltage, delivering ultra-low power consumption and high performance for the most demanding applications. Celebrating our global team At GF, we shape the world through our essential chips—from the solutions that enable the way we live today, to the technologies that drive what’s possible for tomorrow. Our people bring this power to life. A diverse and global team representing the best in the industry, we are united by our dedication to excellence and our desire to improve and empower the world. In 2024, to help our ability to attract the best and brightest in the industry, our careers page received a fresh look. Check out gf.com/careers to join GF and shape what’s essential. “AI Everywhere” at GTS GF’s annual Technology Summit series in 2024 highlighted the critical role of GF-made essential chips in accelerating the impact and ubiquity of artificial intelligence. The theme of “AI Everywhere” was the connective tissue across three events, on three continents, which brought together industry leaders to share insights on the latest technology advancements and trends. Together, the events were attended by more than 1,000 GF customers, partners, and collaborators, who heard the many ways in which GF technology platforms provide the flexibility, performance, power efficiency and reliability that are helping drive advancements in AI. Innovations on GF’s RF, silicon photonics and other technology platforms are paving the way to smarter, more connected and more efficient devices needed to unlock the full potential of edge AI computing and achieve “AI Everywhere.” Developing tomorrow’s semiconductor workforce University of Vermont students tour GF’s manufacturing facility GF is committed to cultivating a diverse and skilled semiconductor workforce, from inspiring young people to pursue education in STEM fields to ensuring GF employees are empowered to develop as professionals and leaders. GF announced several efforts in 2024 to support this commitment, including: Partnering with the U.S. National Science Foundation and Micron to invest in workforce development at Minority Serving Institutions (MSI), to help meet the growing workforce needs of the U.S. semiconductor ecosystem. Joining the U.S. “Million Women in Construction” initiative to help increase representation of women and economically disadvantaged individuals in the construction workforce Establishing a new scholarship program at the University of Vermont’s College of Engineering and Mathematical Sciences Expanding collaboration with Rensselaer Polytechnic Institute including new sponsorships and internship opportunities for students Sponsoring the 2024-25 FIRST LEGO League program in Vermont Supporting the new “Chip Kids” video series in partnership with As GF Chief People Officer Pradheepa Raman said: “As an industry, we must work together to collectively address the great need for a robust, diverse pipeline of talented individuals who will be the semiconductor innovators and leaders of tomorrow. Strong partnerships are critical to continue the work of inspiring and developing the skilled workforce our industry needs to grow.” Collaborating with BAE Systems on essential chips for national security BAE System’s Terry Crimmins and GF CEO Dr. Thomas Caulfield In June, GF and BAE Systems announced a new collaboration to strengthen the supply of essential semiconductors for national security programs. With a focus on U.S. chip manufacturing and joint research and development for advanced chip technologies, the companies agreed to align technology roadmaps and collaborate on advancing domestic fabrication and packaging of secure chips for use in aerospace and defense systems. Terry Crimmins, president of BAE Systems’ Electronic Systems sector, joined GF CEO Dr. Thomas Caulfield at GF’s Malta, New York, facility to commemorate the new agreement, which builds upon the longtime relationship between BAE Systems and GF. The agreement further brings together BAE Systems’ expertise in microelectronics for critical defense systems with GF’s expertise as one of the world’s leading high-volume semiconductor manufacturers and the most advanced supplier of secure, essential chips to the U.S. Department of Defense. Accelerating game-changing GaN chips GF’s manufacturing facility in Vermont is the hub of the company’s global GaN chip program In 2024, GF moved closer to large-scale manufacturing of essential gallium nitride (GaN) on silicon semiconductors at its facility in Vermont. With the ability to handle high voltages and temperatures, GaN chip technology is essential for enabling higher performance and greater energy efficiency across a range of RF and high-power control applications including automobiles, datacenter, IoT, aerospace and defense. This effort was supported by three key milestones. First, GaN chips were an important focus of GF’s CHIPS and Science Act award, with part of the $1.5 billion direct supporting the advancement of large-scale GaN manufacturing in Vermont. Second, in July GF announced it acquired Tagore Technology’s Gallium Nitride Power portfolio and created the GF Kolkata Power Center in Kolkata, India. Third, in December received an additional $9.5 million in funding from the U.S. government to support and advance GaN chip manufacturing in Vermont. Together, these efforts are accelerating GF’s momentum in empowering customers to build the next generation GaN-based technologies. As Nicholas Sergeant, vice president of IoT and aerospace and defense at GF, said: “GF is proud of its leadership in GaN chip technology, which is positioned to make game-changing advances across multiple end-markets and enable new generations of devices with more energy-efficient RF performance and faster-charging, longer-lasting batteries.” Manufacturing excellence At the core of GF’s operations lies one driving force: manufacturing excellence. With over 7 million square feet of fabrication facilities — equivalent to nearly 95 Liverpool soccer fields — across three continents, GF’s vast manufacturing footprint is central to the company’s mission and success. How does it all work together, like a giant global semiconductor symphony? Go behind the scenes in this blog article with GF’s Chief Manufacturing Officer Pradip Singh who, alongside a dedicated and talented team, ensures the smooth functioning of GF fabs and the people who bring them to life every day. Also be sure to check this Q&A with Hui Peng Koh, vice president and general manager of GF’s New York site, as well as this Q&A with Ken McAvey, vice president and general manager of Vermont operations and global facilities. Commitment to achieving net zero emissions and carbon-neutral power by 2050 GF has a longstanding commitment to sustainable manufacturing, fighting climate change, and doing the right thing for the right reasons. On Earth Day, the company doubled down on this commitment by announcing two new long-term goals to achieve net-zero greenhouse gas (GHG) emissions and 100% carbon-neutral power by 2050. The new 2050 goals are aligned with Paris Agreement goals,and build upon GF’s Journey to Zero Carbon pledge in 2021 to reduce its greenhouse gas emissions by 25% from 2020 to 2030, even as the company continues to expand its global manufacturing capacity. The company is on track to meet its 25% reduction goal by 2030, which you can read more about in GF’s comprehensive 2024 Sustainability Report. As GF CEO Dr. Thomas Caulfield said: “Climate change is a universal concern for every nation, company and person on this planet, and there are no do-overs when it comes to global warming. It is incumbent upon all of us to take meaningful action to fight against this risk. With our net zero 2050 goal, GF is pledging to continue our sustainability journey and innovate new ways of reducing our emissions and our overall impact on the environment. Not only does this make sense and drive value from a business perspective, it’s the right thing to do for our planet and the future of humanity.” For further reading, don’t miss these blog articles: GF Making Progress on its Journey to Zero Carbon Protecting our Planet Together Resource Conservation is Key to GF’s Sustainability Efforts Recognitions and awards GF is always proud when the company and its team are recognized for their efforts. Key 2024 recognitions include: In April, GF celebrated earning a perfect score in the Human Rights Campaign’s 2023-2024 Corporate Equality Index, a testament to GF’s commitment to an inclusive, diverse workplace where everyone feels valued. Also in April 2024, GF was thrilled to see GF leaders Jennifer Robbins and Katelyn Harrison honored at the Women MAKE Awards. Their recognition underscores the impact of women in semiconductor manufacturing and highlights GF’s commitment to fostering talent and leadership. In May, the latest recognition of GF’s sustainability efforts was being named to USA Today’s “America’s Climate Leaders 2024” list, amplifying our commitment to cut greenhouse emissions and achieve carbon-neutral power by 2050. In September, GF was named one of Fast Company’s “Best Workplaces for Innovators” in the Science and Technology category, celebrating our culture of innovation, collaboration, and technological advancement. In October, GF was named to TIME’s “World’s Best Companies of 2024” list, a reflection of our talented global team, essential chip manufacturing, and longstanding commitment to sustainability. In December, GF Senior Director Yvonne Keil was awarded the 2024 Female Leader of the Year Award at the International Semiconductor Executive Summits – Asia.
