Amkor and GlobalFoundries Cut Ribbon on Strategic Cooperation in Portugal 

Partnership to strengthen European automotive supply chain and expand services for global customers 

TEMPE, Ariz. — Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, and GlobalFoundries (GF), one of the world’s leading semiconductor manufacturers, will officially kick off their strategic partnership in Europe with a ribbon cutting ceremony at Amkor’s Porto, Portugal, facility on January 16, 2024.

Since February 2023, GF has transferred 50 tools from its Dresden site to Amkor in Porto, with first customer products being qualified on the newly installed GF tools.

“The collaboration between GlobalFoundries and Amkor in Europe is an important step in enhancing the industry’s global supply chain resiliency to support Marvell’s global data infrastructure customers,” said Adrian Benjamin, Marvell Chief Procurement Officer.

The new partnership between the two companies redefines the landscape of semiconductor manufacturing by enabling a first comprehensive EU supply chain — from semiconductor wafer production at GF to OSAT services at Amkor. To facilitate this collaboration, GF is transferring its 300 mm Bump (12-inch bump, CuP and plated bump) and Sort lines from its Dresden site to Amkor’s IATF 16949 certified Porto plant to establish the first at-scale back-end facility in Europe.

This key strategic partnership between Amkor and GF is uniquely positioned to aid the European Union in its drive toward automotive semiconductor manufacturing regionalization. Amkor’s global footprint and strong European presence combined with GF’s tools, processes and know-how will enable the Porto site to help the European Union to pursue its goals of ensuring supply chain stability and delivering the next-generation automotive and other critical chip solutions. 

“Amkor has more than 40 years of automotive expertise and is IATF-certified across seven countries around the world,” said Kevin Engel, Amkor’s executive vice president, Business Units. “Amkor brings the scale and expertise of its global advanced packaging footprint to this exciting collaboration. Our partnership with GlobalFoundries signals our common goal to stabilize a robust and resilient European automotive supply chain.” 

“GF Dresden is Europe’s largest and most advanced semiconductor manufacturer and Amkor is the only Tier 1 OSAT in Europe,” said Dr. Manfred Hortsmann, GlobalFoundries’ senior vice president and general manager European Fabs. “Together, we enable one of the most robust chip supply chains outside of Asia, creating a more resilient European supply chain for key end markets including automotive.”

Amkor’s collaboration with GF represents a significant stride in the expansion of offerings and overall footprint in Portugal. Amkor also recently broke ground on a new factory expansion in Porto to deepen its commitment to supporting local supply chains and global customers. 

About Amkor Technology, Inc. 

Amkor Technology, Inc. is the world’s largest US headquartered OSAT (outsourced semiconductor assembly and test) service provider. Since its founding in 1968, Amkor has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world’s leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey manufacturing services for the communication, automotive and industrial, computing, and consumer industries, including but not limited to smartphones, electric vehicles, data centers, artificial intelligence, and wearables. Amkor’s operational base includes production facilities, research and development centers, and sales and support offices located in key electronics manufacturing regions in Asia, Europe, and the United States. For more information, visit amkor.com

About GlobalFoundries 

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. 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 Statement Disclaimer 

This press release contains forward-looking statements within the meaning of the federal securities laws, including statements about supply chain development. You are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements in this press release are made based on our current expectations, forecasts, estimates and assumptions. Because such statements include risks and uncertainties, actual results may differ materially from those anticipated in such forward-looking statements. Risk factors that could affect the outcome of the events set forth in these statements are discussed in the company’s reports filed with or furnished to the Securities and Exchange Commission. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release except as may be required by applicable law. 

Contacts 

GlobalFoundries 

Jens Drews
[email protected]  
+49 172 3552369

Amkor Technology, Inc. 

Investor Relations 
Jennifer Jue 
Vice President, Investor Relations and Finance 
480-786-7594 
[email protected] 

Media Relations 
Christina Parsons 
Director, Marketing Communications 
480-786-7653 
[email protected] 

GlobalFoundries and Keppel sign Multi-Year Power Purchase Agreement

GlobalFoundries will be a long-term off-taker of electricity from the new Keppel Sakra Cogen Plant, Singapore’s first energy-efficient and hydrogen-ready combined cycle power plant.

SINGAPORE, JANUARY 09, 2024 – GlobalFoundries (NASDAQ: GFS) (GF) and Keppel Ltd’s Infrastructure Division (Keppel) today announced the signing of a multi-year power purchase agreement (PPA) for the provision of electricity at GF’s Singapore site, expected to commence on 1 May 2024.

The multi-year agreement will see Keppel provide 150 to 180 MW of electricity each year to power GF’s Singapore operations. This agreement will facilitate procurement of GF’s power supply as its Singapore campus continues to ramp production following the launch of its latest Singapore Expansion facility in September 2023.

GF is expected to be a significant long-term off-taker of electricity from the upcoming Keppel Sakra Cogen Plant (KSC), as it is expected to contract about 25% of KSC’s total generation capacity for more than 15 years when the plant is operational.

Scheduled for completion in 2026, KSC is expected to be one of the most advanced and energy-efficient power plants in Singapore. Powered by electricity from KSC, it is expected that GF will be able to reduce emissions from its Singapore site by more than 10% or up to 70,000 tonnes of CO2 emissions per annum, compared to the status quo. Furthermore, with ability to use hydrogen as part of its feedstock, it is expected that KSC will be able to provide GF with a resilient source of even lower carbon power in future.

As part of GF’s commitment to sustainability, GF has preserved the option to switch a portion of the electricity supplied by Keppel to renewable energy, such as solar and wind, when these sources become more readily available in Singapore.

Mr Tan Yew Kong, SVP and GM, GlobalFoundries Singapore site, said, “We are delighted to begin our partnership with Keppel. We are confident that this partnership will help us ensure stable energy availability and maintain our competitive advantage, as we continue to deliver on our commitments to meet the demand for GF-manufactured essential chips.  

“Environmental performance is built into our Singapore facility, and we take a long-term perspective to integrate resource-efficient systems and processes into our operations. As more options for renewable energy become available in the future, we are committed to adopting more solutions to further decarbonize electricity generation, as well as invest in the necessary infrastructure to execute on our global Journey to Zero carbon strategy.”

Ms Janice Bong, Managing Director, Power & Renewables of Keppel’s Infrastructure Division, said, “Keppel is pleased to support forward-looking customers who are playing an active role in managing their carbon emissions to enhance competitiveness. The signing of a long term PPA with an established customer, such as GlobalFoundries, provides an added source of recurring income to Keppel’s electricity business, bolstering our growth on an even keel.

“Amidst the energy transition, Keppel stands ready, with our highly efficient fleet of power plants and expertise in renewables and low carbon energy, to address the changing needs of companies seeking to decarbonise their operations.”

Announced in August 2021, GF’s Journey to Zero Carbon Goal aims first to reduce the company’s total greenhouse gas emissions by 25% by 2030, despite a significant planned growth of its global manufacturing capacity. The contract with Keppel in Singapore reinforces GF’s commitment to sustainability across its manufacturing and operations. It also marks yet another milestone in GF’s Singapore site’s sustainability journey to maximize energy and resource efficiency. The campus is already outfitted with many decarbonization solutions like electricity-driven heat pumps for heating water that eliminate exhaust emissions and decrease overall energy demand. Both the Administration and Manufacturing buildings of the latest Singapore Expansion facility also earned Green Mark Gold status from Singapore’s Building and Construction Authority.

The abovementioned contract is not expected to have any material impact on its earnings per share and net tangible asset per share of Keppel Ltd. for the current financial year.

About GF

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. 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.

About Keppel

Keppel Ltd. (SGX:BN4) is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered in Singapore, Keppel operates in more than 20 countries worldwide, providing critical infrastructure and services for renewables, clean energy, decarbonisation, sustainable urban renewal and digital connectivity. Keppel creates value for investors and stakeholders through its quality investment platforms and diverse asset portfolios, including private funds and listed real estate and business trusts.

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 and Keppel undertake 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. 

For GlobalFoundries:

Luana Low
GlobalFoundries
[email protected]

For Keppel:

Media
Mr Ang Lai Lee
Director 
Corporate Communications 
Keppel Ltd.  
Tel: (65) 6413 6427
Email: [email protected]

Investor Relations
Ms Tang Yi Bing
Senior Manager
Corporate Communications
Keppel Ltd.
Tel: (65) 6413 6474
Email: [email protected]  

GlobalFoundries Announces Conference Call to Review Fourth Quarter and Full-Year 2023 Financial Results

MALTA, N.Y., Jan. 08, 2024 (GLOBE NEWSWIRE) — GlobalFoundries (NASDAQ: GFS) today announced that it will host a conference call on Tuesday, February 13, 2024, at 8:30 a.m. ET following the release of the company’s fourth quarter and full-year 2023 financial results.

Conference Call and Webcast Information

The company will host a conference call with the financial community on Tuesday, February 13, 2024, at 8:30 a.m. ET. Interested parties may join the scheduled conference call by registering here.

The company’s financial results and a webcast of the conference call will be available on GlobalFoundries’ Investor Relations website at https://investors.gf.com.

About GF

GlobalFoundries Inc. (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. 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.

For further information, please contact:

[email protected]

Looking Back at 2023: GF Celebrates Year of Partnerships, People, and Innovation

As we move forward into the new year, Foundry Files takes a step back to reflect on the key accomplishments of GlobalFoundries (GF) in 2023.  

From being a trusted partner, to strengthening our global footprint, to advancing our essential semiconductor technologies, to maintaining relentless focus on our team, let’s look at this past year’s GF news and milestones. 

Strengthening Our Global Footprint 

New Singapore Facility Opens 

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GF’s $4 billion facility expansion in Singapore officially opened in September, in partnership with customers and the Singapore government. Singapore’s most advanced semiconductor production facility, it will produce an additional 450,000 300mm wafers annually, boosting GF’s total annual capacity in Singapore to about 1.5 million 300mm wafers. The new facility boosts GF’s global manufacturing footprint and is instrumental in ensuring that we have the capacity our customers around the world need as they seek to strengthen their supply chains. 

Click here to watch Yew Kong Tan, SVP and GM of GF’s Singapore site, discuss the expansion, and check out news coverage from Reuters, Bloomberg, and CNBC

Also, click here to read about the many ways this new facility is raising the bar for sustainability and efficiency with state-of-the-art environmental performance and controls.  

Opening New Malaysia Office 

Complementing the Singapore expansion was the opening of GF’s new hub facility in Penang, Malaysia. This new facility is part of a strategic hub network that will provide fundamental round-the-clock support for GF’s global manufacturing operations, enabling us to deliver supply chain resiliency as we deliver on our commitments to meet the market demand for essential GF-manufactured chips. The close proximity between Malaysia and Singapore also opens opportunities for cross-border initiatives, and for broadening the talent pool. 

Read more about the announcement in the New Straits Times and Tech in Asia.

U.S. CHIPS and Science Act 

In September GF announcing it applied for funding from the U.S. CHIPS and Science Act, with two full applications submitted to the CHIPS Program Office of the U.S. Department of Commerce. The submitted applications were for capacity expansion and modernization of GF’s U.S. manufacturing facilities. 

Click here to watch Dr. Thomas Caulfield, president and CEO of GF, discuss the CHIPS Act on CNBC. 

Helping Our Partners Achieve Supply Chain Resiliency 

GF and GM Join Forces 

February saw the announcement of a strategic long-term agreement between GF and General Motors (GM). The first-of-its-kind agreement created dedicated production capacity exclusively for GM at GF’s fab in Malta, New York. The agreement strengthens U.S. semiconductor manufacturing and supports GM’s strategy to reduce the number of unique chips needed to power increasingly complex vehicles.  

As Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain, said:  

“We see our semiconductor requirements more than doubling over the next several years as vehicles become technology platforms. The supply agreement with GlobalFoundries will help establish a strong, resilient supply of critical technology in the U.S. that will help GM meet this demand, while delivering new technology and features to our customers.” 

Check out news coverage of the announcement from Reuters, New York Times, AP, and CNN. Click here to read more about the ways GF technology is driving automation in the automotive industry. 

Collaborating with Lockheed Martin on Secure Chips 

In June, GF and defense contractor Lockheed Martin announced a strategic collaboration to accelerate technological innovation and increase the security, reliability and resiliency of domestic supply chains for mission-critical national security systems. The collaboration directly supports U.S. government goals of increasing traceability, provenance, and onshore production of critical semiconductor technologies. 

The announcement was made at our Malta, New York, facility by U.S. Senate Majority Leader Charles Schumer, Lockheed Martin Chairman, President and CEO Jim Taiclet, and GF President and CEO Dr. Thomas Caulfield. 

As Jim Taiclet said: 

“Lockheed Martin is focused on delivering cutting-edge 21st Century Security capabilities that advance deterrence and keep our customers ahead of emerging threats. This begins with securely manufactured semiconductors. We look forward to working with GlobalFoundries to help increase access to domestically produced microelectronics – a true national security imperative.” 

Read news coverage of the announcement from Reuters, EE Times, Defense News, and Fierce Electronics.

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Ongoing Leadership in Aerospace and Defense  

GF is a longstanding partner to the U.S. government and the leading supplier of securely manufactured essential chips for the aerospace and defense industry.  

In September, the U.S. Department of Defense (DoD) extended its partnership with GF, with the award of a 10-year, $3.1 billion contract for the supply of secure semiconductors for use across a wide range of critical aerospace and defense applications. Many of these chips will be manufactured using GF’s advanced 12nm FinFET technologies, and will be used in DoD systems on land, sea, air and in space. This year also saw the DoD accredit GF’s Malta, New York, facility to the highest security level, Trusted Supplier Category 1A.  

Read news coverage of the announcement of the new 10-year DoD contract at Tom’s Hardware, EE News, and Electronic Design

Advancing Essential Chip Technology and Innovation 

Growing Our Portfolio of Differentiated Technologies  

GF added many new and enhanced capabilities to its already broad and deep portfolio of differentiated technologies in 2023. At GF’s annual Technology Summit in Europe, we announced a suite of advancements to our fast-growing 22FDX® (22nm FD-SOI) platform. These innovations bring exceptional power efficiency, enhanced performance, temperature-resistant operation and other benefits to demanding IoT and automotive applications. 

At the GF Technology Summit in North America, GF announced our new 9SW RFSOI platform, an advancement of the industry’s first 300 mm RFSOI foundry solution. Building upon GF’s 9swexisting 8SW RFSOI technology – and designed collaboratively with key customers – it is the industry’s most advanced RF solution. It offers significant improvements in flexibility, performance, integration, size and cost for 5G mobile and wireless communications applications. 

As David Archbold, vice president of product marketing for the wireless semiconductor division at Broadcom said about 9SW RFSOI: 

“Developing high-speed, more reliable connectivity is critical for the key 5G mobile and next-generation applications that we all depend on to live, work and play. With this new generation of technology, Broadcom will enable our customers to deliver the best possible 5G mobile experience to their end users.” 

Also at that summit, GF announced additions to two of its technology platforms for next-generation electric and autonomous vehicles. Our 40ESF3 AutoPro™ 175 is a new technology that gives automotive customers a set of both technology solutions and manufacturing services to help minimize certification efforts and speed time-to-market. Our new 130BCDLite Gen2 ATV125 power management solution supports high-voltage and other automotive applications, and meets the rigorous Auto Grade 1 qualification for high-temperature operation.  

Innovating the Next Generation of Essential Chips 

GF remains hard at work researching and developing new essential chip technologies that hold the promise of new game-changing capabilities and features. In October, GF was awarded was awarded $35 million in U.S. Department of Defense funding to accelerate implementation of large-scale manufacturing of GF’s gallium nitride (GaN)-on-silicon semiconductors at our facility in Essex Junction, Vermont. GaN technology is positioned to offer significant performance and efficiency for smartphones, electric vehicles, power grids, and many other applications.  

In the academic world, GF is a key partner for university collaborations on many levels. On a technical level, GF’s university network ecosystem fosters collaborations with professors who are world experts in technical disciplines relevant to GF’s end markets. GF works with the professors, gives them access to its differentiated technologies, provides engineering support, and manufactures their designs. In return, GF receives valuable technical feedback and has learned many different ways in which its platform technologies can be used to create innovative solutions for customers. This type of rich collaboration is at the heart of our announcement in March about GF’s new partnership with Georgia Institute of Technology

Fostering a Culture of Innovation 

Innovation is fundamental to GF and the semiconductor industry. In 2023 during our annual GF Patent Week celebration, GF announced the new GFX Prize, a $50,000 award which recognizes a single groundbreaking invention from among all of GF’s inventors worldwide. The inaugural winner was Dr. Yusheng Bian, a technology development engineer, GF Master Inventor, and 2021 DEI in Inventorship Champion. Dr. Bian has more than 170 worldwide patents and 260 patents pending and was awarded the GFX Prize for his work in silicon photonics technology. Be sure to check out this great Q&A with Dr. Bian

In addition to the GFX Prize, GF Patent Week recognized six new Master Inventors from the U.S., India and Europe, to support GF’s company-wide culture of inventorship and innovation. Laura Silverstein, an integration engineer with GF in Essex Junction, Vermont, was recognized as GF’s 2023 Diversity, Equity and Inclusion (DEI) in Inventorship Champion. 

Relentless Focus on People and Community 

Innovative Student Loan Repayment Program 

Investing in our workforce and building a talent pipeline is a critical need for GF, our communities, and our industry. In November we announced a new student loan repayment program to help U.S.-based employees and eligible new recruits pay up to $28,500 in student loan debt, tax-free. The goal is to strengthen the semiconductor talent workforce by helping to ease the financial burden of higher education and training of GF’s present and future employees. 

As Dr. Thomas Caulfield, president and CEO of GF, said: 

“In the semiconductor industry, poised to double again over the next decade, the blueprint for tomorrow’s innovations is directly linked to the talent we cultivate today. By enhancing our employee benefit programs, especially through our student loan assistance, GF is not only strengthening and building its own talent pipeline but also striving to set an industry benchmark. It’s this very talent that is critical to delivering the essential semiconductors the world relies on to live, work and connect.” 

Click here to read Newsweek’s coverage of this new program. 

Putting People First 

People are GF’s most valuable resource. Recognizing and valuing GF’s employees and encouraging them to bring their authentic self to work every day, is critical to supporting GF’s company-wide culture of diversity, equity, and inclusion.  

GF was proud to celebrate International Women’s Day 2023 in March and recognize women across the company for their outstanding work. GF’s largest employee resource group (ERG) is GlobalWomen, which has chapters around the world. Every year each chapter celebrates and awards women and allies who exemplify GF’s values with recognition events. In 2023, there were 10 such events and more than 1,000 attendees in total.  

Click here to see the current list of GF’s employee-driven ERGs, including our newest ERG, ConnectAbility, which enables inclusion, accessibility, awareness, and support for individuals with disabilities, caregivers, and allies. This group creates a supportive network where individuals can connect, share experiences and strategies, and empower the potential of every individual in navigating life and career journeys. 

Click here to read more about diversity, equity, and inclusion at GF. 

Commitment to ESG, Corporate Responsibility and Community 

GF has demonstrated a longstanding commitment to corporate responsibility, and in 2023 we received several recognitions for our environmental, social, and corporate governance (ESG) efforts. 

In addition to being included on Newsweek’s “America’s Most Responsible Companies 2024” list, GF was named to Morningstar Sustainalytics’ “2023 Industry Top-Rated ESG Companies” List. Also in 2023, GF maintained its “Low Risk” rating from Morningstar Sustainalytics and maintained its “Prime” Corporate ESG rating from Institutional Shareholder Services (ISS). 

As Stacey Barrick, GF’s global head of ESG, said:  

“GF is committed to environmentally sustainable manufacturing and to being a world-class employer. Corporate responsibility and ESG are fundamental to who we are as a company, and factor into every decision we make.” 

Click here to read further about our resource conservation efforts, and click here to read more about ESG at GF. Click here to view GF’s full 2023 Corporate Responsibility Report, which offers a comprehensive review of our ESG successes over the past year. 

Last, but certainly not least, GF’s team came together once again to make a positive impact in our communities. In 2023, GF and employees made total donations of $1.2 million USD and volunteered a total of 8,867 hours to benefit more than 1,400 different nonprofits and charities. Click here to read more about our GlobalGives employee giving program. 

GlobalFoundries Named to “America’s Most Responsible Companies 2024” List

MALTA, N.Y., December 13, 2023 — GlobalFoundries (Nasdaq: GFS) (GF) has been named to Newsweek’s list of “America’s Most Responsible Companies 2024.” It marks the second consecutive year GF was included on Newsweek’s list, and is the latest recognition of GF’s longstanding commitment to ESG (environment, social, and corporate governance) and environmentally sustainable manufacturing. 

“We are proud to have our ESG efforts recognized and to be included on Newsweek’s list of America’s Most Responsible Companies for the second year in a row,” said Stacey Barrick, GF’s global head of ESG. “GF is committed to environmentally sustainable manufacturing and to being a world-class employer. Corporate responsibility and ESG are fundamental to who we are as a company, and factor into every decision we make.” 

Newsweek’s America’s Most Responsible Companies ranking focuses on a holistic view of corporate responsibility that considers all three pillars of ESG. The analysis is based on key performance indicators from publicly available information as well as a public survey of 17,000 U.S. residents about their perception of company activities related to corporate social responsibility. The final 2024 list recognizes the top 600 most responsible companies in the United States, spanning 14 industries. 

In 2023, GF’s ESG efforts were recognized by rating agency Morningstar Sustainalytics, which maintained GF’s “Low Risk” rating and named GF to its “2023 Industry Top-Rated ESG Companies” list. GF also maintained its “Prime” Corporate ESG rating from ISS in 2023. 

Learn more about ESG and corporate responsibility at GF and see a full list of the company’s ESG recognitions at: https://gf.com/about-us/corporate-responsibility 

About GF  

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. 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. 

Media Contacts: 

Michael Mullaney
[email protected] 

Bringing People Together: The Importance of Employee Resource Groups to Workplace Culture

By Emma Cheer
Director, Diversity, Equity, Inclusion and Belonging at GlobalFoundries

At GF, our people are our most valuable resource. Our business operates 24 hours a day, seven days a week across three continents. The people behind our success are innovative, talented and dedicated to providing outstanding solutions for our customers.

We are 13,000 employees strong, with each team member encouraged to bring their authentic self to work. So how does GF support that?

From our first employee resource group, GlobalWomen, to our newest, ConnectAbility, our employees have a range of opportunities to meet like-minded team members from around the world.

What are ERGs?

Employee Resource Groups (ERG) are voluntary, employee-led communities who share a common cause or similar identity to foster a diverse, inclusive workplace aligned with GF’s organizational mission, values, goals, business practices and objectives. Here at GF, we benefit from a number of ERG groups, each initiated by employees with executive sponsorship and company endorsement.

Why are ERGs important?

An important component of our comprehensive Diversity, Equity, Inclusion, & Belonging (DEIB) program, ERGs play a crucial role in shaping GF’s culture and promoting diversity and inclusion at all levels of the organization. ERGs provide a platform for underrepresented voices to be heard and empower employees to contribute their unique perspectives. They also collaborate across departments, sites, and business units fostering cross functional collaboration. As a result, GF’s ERGs are the catalysts for positive change, driving initiatives that promote equity and inclusion, and enhance the overall employee experience.

Meet our ERGs

Asian Society for Inclusion and Awareness (ASIA) is dedicated to creating an inclusive and socially just environment for Asian employees and allies. ASIA aims to support and promote the interests of the Asian community through networking, mentoring and increasing awareness of Asian culture and values.

Black Resource Affinity Group (BRAG) embraces diverse experiences of black employees and provides a safe place to express individualism, while continuing to build inclusive cultures.

ConnectAbility enables inclusion, accessibility, awareness, and support for individuals with disabilities, caregivers, and allies. This group creates a supportive network where individuals can connect, share experiences and strategies, and empower the potential of every individual in navigating life and career journeys.

Early Tenure Professionals (ETP) fosters, encourages, and empowers personal and professional development of individuals who have recently entered into a “new” career role by offering academic, philanthropic and social programs.

GlobalFamilies provides a community for employees and their families and share helpful resources to promote a work-life balance.

GlobalWomen (GW) is an alliance of women and allies whose mission is to create a sustainable framework for the professional development of women at GF, working in partnership with allies to drive initiatives that have a positive impact on our people, culture and business.

Pride@GF is dedicated to providing an inclusive environment for members of the LGBTQ+ community and their allies, empowering employees to bring their full selves to work, and informing and guiding GF to create a culture of inclusion.

Remote@GF enables GF remote employees to feel a sense of belonging, thrive and be engaged no matter where the working location is – bringing together a diverse array of individuals who work remotely full-time or hybrid.

Unidos (Hispanic/Latinx Resource Group) promotes and educates GF about the rich Hispanic/Latinx culture and heritage while cultivating advancement and growth of the Hispanic/Latinx employee population.

United States Veteran’s Resource Group (VRG) builds GF’s veteran talent pool, fosters a professional network, and supports veterans throughout the community. The VRG’s values are SERVE: Support, Empower, and Recognize Veteran Expertise.


Interested in learning more about Diversity, Equity, Inclusion and Belonging at GF? Click here to learn more.

GlobalFoundries Names John Hollister as Chief Financial Officer

MALTA, N.Y., December 11, 2023 – GlobalFoundries (NASDAQ: GFS) today announced that John Hollister will join the company as Chief Financial Officer (CFO), effective February 5, 2024. Hollister, a semiconductor industry veteran, will be responsible for GF’s financial strategy and will lead the company’s global finance organization.

Hollister joins GF from Silicon Labs where he has served as Senior Vice President and CFO for more than 10 years helping to lead the company’s growth in the broad-based semiconductor and Internet of Things (IoT) markets. He has been with Silicon Labs for nearly 20 years and held a variety of key financial management positions. He also served as Vice President of Manufacturing for Silicon Labs’ Asia Operations, based in Singapore for five years and later served as Vice President of Corporate Development, driving the company’s IoT acquisition strategy. Prior to joining Silicon Labs, Hollister served as Vice President of Finance at Cicada Semiconductor and held various finance positions at Cirrus Logic, Veritas DGC, and 3-D Geophysical. Hollister began his career in the audit practice of PricewaterhouseCoopers LLP and has been an active CPA for nearly 30 years. He holds a master’s degree in professional accounting from the University of Texas at Austin.  

“GF’s continued financial performance is vital to our ability to deliver for our customers and to create long-term value for all our stakeholders,” said Dr. Thomas Caulfield, president and CEO of GF. “John brings decades of experience, a proven track record as a CFO of a publicly traded company and deep understanding of our industry. He is the ideal leader to take the helm of our talented finance organization, support the acceleration of our financial performance and create sustainable value for our stakeholders. I want to thank David Reeder for all he has helped GF accomplish and for his dedication and support in our CFO transition.”

“Manufacturing is at the heart of today’s dynamic semiconductor industry, and I am excited about the opportunities ahead for GF as we deliver innovation and essential chips for our global customers,” said John Hollister.

Hollister succeeds David Reeder who announced his intentions to leave GF earlier this year. Both John and David will transition to their new roles in early February 2024.

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About GF

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. 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 require by law. 

Media:
Erica McGill
GlobalFoundries
[email protected]

Investor Relations:
[email protected]

Q&A for Dr. Yusheng Bian, winner of the GFX Prize

Foundry Files sat down with Dr. Yusheng Bian, a GF Master Inventor and winner of the company’s first GFX Prize for innovation. Based at our Malta, New York, facility, Dr. Bian is a technology development engineer in GF’s device engineering group. Read about the GFX Prize here.

1. What was your first invention at GF and what did it do?

During my tenure at GF, I embarked on my first invention centered around a grating coupler, a crucial component that enables efficient light coupling between the silicon photonic chip and the external environment. Joining GF as the inaugural silicon photonic R&D engineer at its Malta, NY facility in 2017, I was tasked with designing a grating coupler for our newly launched silicon photonics project. Recognizing its ubiquitous usage in wafer level testing and its substantial impact on the majority of test structures employed in silicon photonics projects, I dedicated significant time and effort to extensive research, including a thorough literature survey, understanding complex layer structures, considering process details and constraints, and conducting comprehensive simulations and analyses. This endeavor not only led to my first invention but also paved the way for subsequent inventions during my early career at GF.

2. How so?

The initial invention I worked on instilled in me a fundamental inclination towards thinking beyond traditional boundaries and capitalizing on design freedom to push performance limits, while remaining mindful of practical considerations such as process and implementation constraints. This mindset continues to profoundly shape my approach to innovation and problem-solving, fueling my exploration of unconventional solutions and pursuit of optimal outcomes.

3. What’s the most fulfilling part of your job?

The most fulfilling aspect of my job lies in the continuous opportunity to acquire knowledge across multiple disciplines and the diverse range of technical challenges that need to be tackled, both internally within our organization and for our valued customers. The field of silicon photonics is rapidly evolving, offering abundant prospects for developing innovative technologies and overcoming numerous technical challenges. The daily pursuit of problem-solving keeps me engaged, and the satisfaction derived from knowing that my work contributes to addressing real-world problems or enhancing people’s lives is invaluable.

The process of identifying issues, conceptualizing creative solutions, and successfully implementing them provides intellectual stimulation and personal gratification. Moreover, it necessitates collaboration and teamwork. Working alongside talented and diverse teams brings immense fulfillment. Joining forces with colleagues who share a common objective, combining diverse perspectives and expertise, and collectively tackling challenges fosters a sense of camaraderie and accomplishment.

4. How has GF supported you in your efforts?

GF has played an instrumental role in my personal and professional development, providing unwavering support and encouragement. The company has created a conducive environment for skill enhancement, taking on new challenges, and fostering growth. Each day presents its unique set of challenges, and I am grateful to be surrounded by a team of enthusiastic engineers and supportive managers who assist me throughout the entire process, from conceptualization to execution, and ultimately delivering impactful results to our clients.

Addressing technical challenges is a constant endeavor, and I also strive to effectively balance multiple priorities, including daily responsibilities as a device engineer, customer interactions as a technologist, and nurturing innovative thinking as an inventor. Amidst these responsibilities, I recognize the importance of finding time to recharge and stay updated with industry trends, often through reading research papers during GF’s designated recharge days and my spare time. This practice keeps me motivated and inspired to continuously push forward.

5. How would you describe the culture of innovation at GF?

GF actively fosters a culture of innovation, encouraging all employees across the organization to embrace creative thinking. They provide the necessary resources and mentorship to guide inventors through the patenting process, reinforcing the significance of intellectual property. Moreover, GF has established a comprehensive recognition program that acknowledges inventors at various stages of their journey. In addition, GF values teamwork and promotes cross-functional collaboration, fostering brainstorming, interdisciplinary cooperation, and collective efforts towards shared objectives. I am deeply appreciative of GF’s steadfast support and commitment to fostering innovation. It is through this dedication that GF is able to drive the company’s technology roadmap and advance platform innovation for the industry and our valued customers. Their support empowers us to push boundaries, explore new possibilities, and deliver cutting-edge solutions that make a meaningful impact in the market.

6. What advice do you wish you had when starting out in the semiconductor industry?

Here are some pieces of advice I would like to offer to aspiring engineers interested in breaking into the semiconductor industry:

  • Stay hungry and unconventional: Embrace a mindset of continuous learning and a thirst for knowledge. The semiconductor industry is constantly evolving, so it’s crucial to stay curious and updated on the latest advancements, emerging technologies, and market trends. Seek opportunities for professional development to enhance your skills and knowledge base. Embrace a lifelong learning approach and never stop expanding your expertise.
  • Stay persistent and adaptable: Breaking into the semiconductor industry can be challenging and competitive. Be prepared for setbacks and challenges along the way. Maintain persistence in pursuing your goals and be adaptable to changing industry demands. Learn from failures and use them as steppingstones for growth and improvement.
  • Nurture creativity and innovation: Embrace problems as opportunities for innovation and improvement. Rather than avoiding or fearing challenges, approach them with a fresh perspective and strive for innovative solutions. Cultivate a habit of creative thinking and brainstorming with colleagues from diverse backgrounds to gain new perspectives.
  • Build a strong professional reputation and cultivate teamwork: Develop a strong work ethic, integrity, and professionalism. Deliver high-quality work, meet deadlines, and communicate effectively. Building a positive professional reputation will open doors to future opportunities. In the semiconductor industry, teamwork and collaboration are crucial, so cultivate strong teamwork and communication skills.

Breaking in the semiconductor industry may take time and effort, but with perseverance, a strong skillset, a great work ethic and a passion for continuous learning and creative thinking, you can carve a successful career path in this exciting field.

Read more about Bian and the GFX Prize

GlobalFoundries Donates $1 Million to ATEC

GlobalFoundries Announces New Multi-Million Dollar Student Loan Repayment Program to Strengthen Semiconductor Workforce

Program designed to build a critical talent pipeline by easing the burden of education debt for U.S. employees

MALTA, N.Y., November 16, 2023 – GlobalFoundries (Nasdaq: GFS) (GF) announced today that it is launching a new student loan repayment program to help current employees and new recruits pay down student loan debt. The new benefit program is part of the company’s multi-million dollar investment to strengthen the semiconductor talent workforce by helping to ease the financial burden of higher education and training of our present and future employees.

Under GF’s new benefit program, set to begin in early 2024, U.S.-based employees and new hires that meet eligibility guidelines will be able to receive a tax-free, lifetime total of $28,500 toward their student debt, enabling employees to pay off their loans faster and at lower out of pocket expenses. The program is open to all U.S. employees that have qualified student loans for all degree types and credit-based certificate programs offered by U.S. universities and colleges.

“In the semiconductor industry, poised to double again over the next decade, the blueprint for tomorrow’s innovations is directly linked to the talent we cultivate today,” said Dr. Thomas Caulfield, president and CEO of GF. “By enhancing our employee benefit programs, especially through our student loan assistance, GF is not only strengthening and building its own talent pipeline but also striving to set an industry benchmark. It’s this very talent that is critical to delivering the essential semiconductors the world relies on to live, work and connect.”

The student loan repayment program is the newest feature in GF’s comprehensive benefit offerings including tuition reimbursement for employees pursuing undergraduate and graduate degrees, fully paid parental leave (twenty weeks for birth parent and 12 weeks for non-birth parent), employee fitness stipend to promote good health, and childcare subsidy towards dependent care. In addition, GF provides differentiated leadership development programs which include on-the-job training, including the first of a kind certified apprenticeship program, mentorship and other professional development opportunities to further increase skill development to cultivate a growth mindset and lifelong learning.

“With the Capital Region home to GlobalFoundries – a critical chip supplier to our defense and auto industries, among others – it’s all-hands-on-deck to support the current GF workforce and future recruits by easing the burden of student loan payments and fostering career growth for the next generation of NY semiconductor talent,” said Senate Majority Leader Schumer. “GlobalFoundries’ new student loan repayment program will not only drive the local Capital Region economy forward by attracting talented workers, but it will also retain the talented students and professionals who already call the Empire State home and are vital as we grow New York into a major global hub for semiconductor manufacturing and innovation. I wrote my CHIPS & Science Act to spark growth like this that will secure our domestic supply chains and lead to new jobs and investment in places like Upstate New York. By enabling employees to pay off their loans faster, GlobalFoundries’ new program will attract the powerhouse workforce we need to further transform the Capital Region and Upstate NY into a leader for semiconductor manufacturing.”

Funding from the CHIPS and Science Act aims to catalyze companies to create investment strategies that will make higher education more accessible and help level the playing field for the U.S. through building a workforce that enables a successful domestic semiconductor industry. For more than a decade, GF has been investing in global career development programs and educational assistance. Moreover, the company has established strategic partnerships nationwide with top universities and strong regional engagements with community colleges in New York and Vermont as well as access to worldwide talent through its global footprint to help build a diverse workforce and semiconductor talent pipeline.

Supporting Quotes

“Investing in our future workforce pays significant and lasting dividends for our Capital Region, nation, and economy. Today’s announcement from GlobalFoundries will create good-paying local jobs while bolstering our national supply chain and further solidifying our region’s role as a leader in manufacturing. Forward-thinking investments like GF’s new program are exactly why I worked to enact the CHIPS and Science Act. I’m thrilled to see these efforts deliver for our region and will continue pushing to strengthen the semiconductor industry and benefit our American workers and communities.” Congressman Paul D. Tonko (NY-20)

“At Hudson Valley Community College, we are excited to be a part of GlobalFoundries’ vision for building a dynamic pipeline that will fuel the future of semiconductor innovation. Our institution is dedicated to providing top-notch education and training, ensuring our students are well-prepared to contribute their skills and expertise to the semiconductor industry. GlobalFoundries’ new program demonstrates a genuine commitment to the education and aspirations of our students, as they work towards a brighter more technologically advanced future.” – Dr. Roger Ramsammy, president of Hudson Valley Community College

“We commend GlobalFoundries for advancing U.S. leadership in semiconductors by helping to make education more affordable. As a leading institution committed to impactful research and education through the semiconductor degrees program (SDP), Purdue University has frozen tuition for 12 years in a row. GlobalFoundries’ student loan repayment program reflects a shared vision of scaling up talent pipelines while empowering the next generation of innovators.” – Mark Lundstrom, Don and Carol Scifres Distinguished Professor, Elmore Family School of Electrical and Computer Engineering and Chief Semiconductor Officer of Purdue University

“Strengthening support for regional partnerships and programs focused on cultivating a highly skilled workforce and fostering job creation within the semiconductor industry is imperative for the well-being of the U.S. economy, national security, and its continued global leadership in emerging technologies. GlobalFoundries’ new program will help nurture and retain top talent in our industry while showcasing the industry’s dedication to the success of its workforce that is critical to the future economy.” – John Neuffer, president and CEO of Semiconductor Industry Association

“The launch of this student loan repayment program is a clear testament to GlobalFoundries’ commitment to fostering educational success and cultivating a robust pipeline of skilled workers for a fast-evolving technological landscape. We look forward to our continued partnership with GlobalFoundries as we forge a more innovative and digitally connected future together, for our students and for the state of New York.” – State University of New York Chancellor John B. King, Jr.

“At the University of Vermont, we take great pride in our role as a critical partner in fostering a strong pipeline of talent for the semiconductor industry through our partnership with GlobalFoundries and our new groundbreaking Device Characterization Teaching Lab. We applaud GlobalFoundries for their continued commitment to developing a highly skilled workforce that will shape the future of technology and position Vermont as a leader in advancing semiconductor manufacturing.” – Suresh Garimella, president of UVM

About GF

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. 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.

Media Contact

Erica McGill
[email protected]