GlobalFoundries Reports Third Quarter 2023 Financial Results

MALTA, N.Y., Nov. 07, 2023 (GLOBE NEWSWIRE) — GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the third quarter ended September 30, 2023.

Finanzielle Höhepunkte im dritten Quartal

  • Revenue of $1,852 million.
  • Gross margin of 28.6% and adjusted gross margin(1) of 29.2%.
  • Operating margin of 14.1% and adjusted operating margin(1) of 17.4%.
  • Net income of $249 million and adjusted net income(1) of $308 million.
  • Adjusted EBITDA(1) of $667 million.
  • Cash, cash equivalents and marketable securities of $3.4 billion.

“In the third quarter, GF’s dedicated teams across the world delivered financial results at the upper end of the guidance ranges we provided in our August earnings release,” said Dr. Thomas Caulfield, president and CEO of GF. “Although the global economic and geopolitical landscape remains uncertain, we are collaborating closely with our customers to support their efforts to reduce inventory levels, while growing long-term partnerships to drive foundry innovation and differentiation across essential end-markets.”

Jüngste geschäftliche Höhepunkte

  • The U.S. Department of Defense awarded GF a new 10-year contract for a supply of securely manufactured, U.S.-made semiconductors for use across a wide range of critical aerospace and defense applications. 
  • GF expanded its world-class global operations with official openings at its fabrication plant in Singapore and new operations support facility in Penang, Malaysia, creating a total of 1,300 high-value jobs.
  • GF announced its most advanced RF technology, 9SW RFSOI, that will offer significant improvements in performance and integration for 5G and wireless communication applications.

(1)Adjusted gross profit, adjusted operating profit, adjusted net income, adjusted EBITDA and related margins are Non-IFRS measures. See “Unaudited Reconciliation of IFRS to Non-IFRS” for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful.

 

Ungeprüfte Zusammenfassung der Quartalsergebnisse (in Millionen USD, außer Beträge pro Aktie und Waferlieferungen)
              Im Vergleich zum Vorjahr   Sequentiell
  Q3’23   Q2’23   Q3'22   Q3’23 vs Q3’22   Q3’23 vs Q2’23
                       
Nettoeinnahmen $ 1,852     $ 1,845     $ 2,074     $ (222 ) (11)%   $ 7   %
                       
Bruttogewinn   529       532       610     $ (81 ) (13)%   $ (3 ) (1)%
Bruttomarge   28.6 %     28.8 %     29.4 %     (80)bps     (20)bps
                       
Bereinigter Bruttogewinn(1) $ 541     $ 546     $ 621     $ (80 ) (13) %   $ (5 ) (1)%
Adjusted gross margin (1)   29.2 %     29.6 %     29.9 %     (70)bps     (40)bps
                       
Betriebsergebnis $ 261     $ 275     $ 357     $ (96 ) (27)%   $ (14 ) (5)%
Operative Marge   14.1 %     14.9 %     17.2 %     (310)bps     (80)bps
                       
Angepasster Betriebsgewinn(1) $ 322     $ 338     $ 389     $ (67 ) (17) %   $ (16 ) (5)%
Adjusted operating margin (1)   17.4 %     18.3 %     18.8 %     (140)bps     (90)bps
                       
Nettoeinkommen $ 249     $ 237     $ 336     $ (87 ) (26)%   $ 12   5%
Nettogewinnspanne   13.4 %     12.8 %     16.2 %     (280)bps     +60bps
                       
Adjusted net income(1)(2) $ 308     $ 297     $ 368     $ (60 ) (16)%   $ 11   4%
Adjusted net income margin (1)   16.6 %     16.1 %     17.7 %     (110)bps     +50bps
                       
Verwässerter Gewinn je Aktie ("EPS") $ 0.45     $ 0.43     $ 0.61     $ (0.16 ) (26)%   $ 0.02   5%
                       
Bereinigter verwässerter Gewinn je Aktie(1) $ 0.55     $ 0.53     $ 0.67     $ (0.12 ) (18)%   $ 0.02   4%
                       
Adjusted EBITDA(1)(3) $ 667     $ 668     $ 793     $ (126 ) (16)%   $ (1 ) %
Adjusted EBITDA margin (1)   36.0 %     36.2 %     38.2 %     (220)bps     (20)bps
                       
Mittel aus der Geschäftstätigkeit $ 416     $ 546     $ 679     $ (263 ) (39)%   $ (130 ) (24)%
                       
Waferlieferungen (300-mm-Äquivalent) (in Tausend)   575       573       637       (62 ) (10)%     2   %
                       
(1) Adjusted gross profit, adjusted operating profit, adjusted net income, adjusted diluted earnings per share, adjusted EBITDA, and related margins are all Non-IFRS measures. See “Unaudited Reconciliation of IFRS to Non-IFRS” section for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS metrics are useful.
(2) Beginning in Q4 2022, the Company revised its definition of adjusted net income to include an adjustment for restructuring charges and the associated tax impact. The change was made due to a restructuring undertaken in Q4 2022. The Company believes the revised definition provides management and investors with more useful information to evaluate the operations of our business. Adjusted net income is now defined as net income adjusted for share-based compensation expense, restructuring charges and the associated tax impact.
(3) Beginning in Q3 2022, the Company revised its definition of adjusted EBITDA to include an adjustment for finance income. The change was made due to the Company making an investment during Q2 2022 of approximately $1.0 billion in marketable securities. The Company believes the revised definition provides management and investors more useful information to evaluate the operations of our business. Adjusted EBITDA is now defined as net income, adjusted for the impact of finance expense, finance income, income tax expense, depreciation, amortization, share-based compensation expense, divestiture gains and associated expenses, restructuring charges, labor optimization initiatives and litigation settlement.
 

 

Summary of Fourth Quarter 2023 Guidance (unaudited in millions USD, except per share amounts)(1)
 
  IFRS   Aktienbasierte Vergütung   Non-IFRS Adjusted(2)
Nettoeinnahmen $1,825 – $1,875   -    
Bruttogewinn $487 – $531   $13- $15   $502 – $544
Gross Margin(3) (mid-point) 27.5%       28.3%
Betriebsgewinn $277 – $349   $40 - $50   $327 – $389
Operating Margin(3) (mid-point) 16.9%       19.3%
Reingewinn $246 – $318   $40 - $50   $296 – $358
Net Income Margin(3) (mid-point) 15.2%       17.7%
Verwässertes EPS $0.44 – $0.57       $0.53 – $0.64
           
(1)The Guidance provided above contains forward-looking statements as defined in the U.S. Private Securities Litigation Act of 1995, and is subject to the safe harbors created therein. The Guidance includes management’s beliefs and assumptions and is based on information currently available. GF has not provided a reconciliation of its Fourth Fiscal Quarter Guidance for adjusted Non-IFRS EBITDA and related margin because estimates of all of the reconciling items cannot be provided without unreasonable efforts. Certain factors that are materially significant to GF’s ability to estimate these items are out of its control and/or cannot be reasonably predicted.
(2)Adjusted gross profit, adjusted operating profit, adjusted net income, and adjusted diluted EPS are Non-IFRS metrics and, for purposes of the Guidance only, are defined as gross profit, operating profit, net income, and EPS before share-based compensation expense, respectively.
(3)Adjusted margins are Non-IFRS metrics and for purposes of the Guidance only, are defined as adjusted gross profit, adjusted operating profit and adjusted net income, each divided by net revenue (using the definitions of adjusted gross profit, adjusted operating profit, and adjusted net income, in footnote (2) above, as appropriate).
 

 

Ungeprüfte konsolidierte Gewinn- und Verlustrechnungen
 
  Drei Monate zum Jahresende
(in Millionen USD, mit Ausnahme der Beträge pro Aktie) September 30, 2023   30. September 2022
       
Nettoeinnahmen $ 1,852     $ 2,074  
Kosten der Einnahmen   1,323       1,464  
Bruttogewinn $ 529     $ 610  
Betriebskosten:      
Forschung und Entwicklung   108       124  
Selling, general and administrative   143       129  
Umstrukturierungskosten   17       -  
Betriebskosten insgesamt $ 268     $ 253  
Betriebsergebnis $ 261     $ 357  
Finance income (expense), net   3       (11 )
Sonstige Erträge (Aufwendungen)   (21 )     9  
Income tax (expense) benefit   6       (19 )
Nettoeinkommen $ 249     $ 336  
Verantwortlich für:      
Aktionäre von GlobalFoundries   249       337  
Nicht-beherrschende Anteile   -       (1 )
Earnings per share:      
Grundlegend $ 0.45     $ 0.62  
Verwässert $ 0.45     $ 0.61  
Für die Berechnung des Gewinns je Aktie verwendete Aktien:      
Grundlegend   553       543  
Verwässert   556       553  
 
(1) Beginning in Q3 2023, selling, general and administrative expense includes (gain)/loss on tool sales and certain contract cancellation fees. Prior period amounts have not been adjusted, as they are immaterial.
 

 

Ungeprüfte konsolidierte Bilanzen
 
(in Millionen USD) September 30, 2023   31. Dezember 2022
       
Vermögen:      
Zahlungsmittel und Zahlungsmitteläquivalente $ 1,880     $ 2,352  
Forderungen, Vorauszahlungen und Sonstiges   1,404       1,487  
Marktgängige Wertpapiere   1,014       622  
Vorräte   1,509       1,339  
Umlaufvermögen $ 5,807     $ 5,800  
Latente Steueransprüche $ 251     $ 292  
Sachanlagen, netto   10,594       10,596  
Marktgängige Wertpapiere   466       372  
Sonstige Aktiva   726       781  
Langfristige Vermögenswerte $ 12,037     $ 12,041  
Gesamtvermögen $ 17,844     $ 17,841  
Passiva und Eigenkapital:      
Kurzfristiger Anteil an langfristigen Verbindlichkeiten $ 199     $ 223  
Sonstige kurzfristige Verbindlichkeiten   2,549       3,136  
Kurzfristige Verbindlichkeiten $ 2,748     $ 3,359  
Langfristiger Teil der langfristigen Schulden $ 2,181     $ 2,288  
Sonstige Verbindlichkeiten   2,084       2,234  
Langfristige Verbindlichkeiten $ 4,265     $ 4,522  
Das Eigenkapital:      
Stammaktien/Kapitalrücklage $ 24,011     $ 23,842  
Kumuliertes Defizit   (13,278 )     (14,021 )
Accumulated other comprehensive income   54       92  
Nicht-beherrschende Anteile   44       47  
Verbindlichkeiten und Eigenkapital insgesamt $ 17,844     $ 17,841  
 

 

Ungeprüfte konsolidierte Kapitalflussrechnungen
 
  Drei Monate zum Jahresende
(in Millionen USD) September 30, 2023   30. September 2022
       
Cashflow aus betrieblicher Tätigkeit:      
Nettoeinkommen $ 249     $ 336  
Abschreibung und Amortisation   366       395  
Finanzaufwendungen, netto und Sonstiges(1)   7       6  
Latente Ertragssteuern   (4 )     11  
Sonstige nicht zahlungswirksame operative Tätigkeiten   16       (32 )
Nettoveränderung des Betriebskapitals   (218 )     (37 )
Nettomittelzufluss aus betrieblicher Tätigkeit $ 416     $ 679  
       
Cashflow aus Investitionstätigkeit:      
Erwerb von Sachanlagen und immateriellen Vermögenswerten $ (323 )   $ (613 )
Sonstige Investitionstätigkeiten   10       (151 )
Nettomittelabfluss aus der Investitionstätigkeit $ (313 )   $ (764 )
       
Cashflow aus der Finanzierungstätigkeit:      
Aufnahme (Rückzahlung) von Schulden, netto   (54 )     95  
Sonstige Finanzierungstätigkeiten   1       62  
Netto-Mittelzufluss/(-abfluss) aus Finanzierungstätigkeit $ (53 )   $ 157  
Auswirkungen von Wechselkursänderungen   (2 )     (5 )
Nettoveränderung der Zahlungsmittel und Zahlungsmitteläquivalente $ 48     $ 67  
Zahlungsmittel und Zahlungsmitteläquivalente zu Beginn des Berichtszeitraums   1,832       2,474  
Zahlungsmittel und Zahlungsmitteläquivalente am Ende des Berichtszeitraums $ 1,880     $ 2,541  
 
(1) Finance expense, net and other has been adjusted to include interest and taxes paid that were previously included in “Other non-cash operating activities.” Prior period amounts have been adjusted accordingly.
 

 

Unaudited Reconciliation of IFRS to Non-IFRS
  Drei Monate zum Jahresende
(in Millionen USD) September 30, 2023   June 30, 2023   30. September 2022
           
Net Revenue $ 1,852     $ 1,845     $ 2,074  
Bruttogewinn $ 529     $ 532     $ 610  
Bruttogewinnspanne   28.6 %     28.8 %     29.4 %
Aktienbasierte Vergütung $ 12     $ 14     $ 11  
Adjusted gross profit (1) $ 541     $ 546     $ 621  
Adjusted gross margin(1)   29.2 %     29.6 %     29.9 %
           
Selling, general and administrative $ 143     $ 132     $ 129  
Aktienbasierte Vergütung $ 25     $ 24     $ 15  
Adjusted selling, general and administrative $ 118     $ 108     $ 114  
           
Forschung und Entwicklung $ 108     $ 106     $ 124  
Aktienbasierte Vergütung $ 7     $ 6     $ 6  
Adjusted research and development (1) $ 101     $ 100     $ 118  
           
Betriebsergebnis $ 261     $ 275     $ 357  
Operative Gewinnspanne   14.1 %     14.9 %     17.2 %
Aktienbasierte Vergütung $ 44     $ 44     $ 32  
Umstrukturierungskosten $ 17     $ 19       -  
Angepasster Betriebsgewinn(1) $ 322     $ 338     $ 389  
Adjusted operating profit margin(1)   17.4 %     18.3 %     18.8 %
           
Nettoeinkommen $ 249     $ 237     $ 336  
Nettogewinnspanne   13.4 %     12.8 %     16.2 %
Aktienbasierte Vergütung $ 44     $ 44     $ 32  
Umstrukturierungskosten $ 17     $ 19       -  
Income tax effect(2) $ (2 )   $ (3 )   $ -  
Adjusted net income(1) (3) $ 308     $ 297     $ 368  
Adjusted net income margin(1)   16.6 %     16.1 %     17.7 %
           
Verwässertes Ergebnis je Aktie $ 0.45     $ 0.43     $ 0.61  
Aktienbasierte Vergütung $ 0.08     $ 0.08     $ 0.06  
Umstrukturierungskosten $ 0.03     $ 0.03       -  
Einkommensteuerliche Auswirkungen $ (0.01 )   $ (0.01 )     -  
Diluted shares outstanding   556       556       553  
Bereinigter verwässerter Gewinn je Aktie(1) $ 0.55     $ 0.53     $ 0.67  
           
Nettomittelzufluss aus betrieblicher Tätigkeit $ 416     $ 546      
Less: Purchase of property, plant and equipment and intangible assets $ 323     $ 400      
Free cash flow(1) $ 93     $ 146      
 
(1) Adjusted gross profit, adjusted selling, general and administrative, adjusted research and development expense, adjusted operating profit, adjusted operating expense (calculated by subtracting adjusted operating profit from adjusted gross profit), adjusted net income, adjusted diluted earnings per share, free cash flow and any related margins are all Non-IFRS measures. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful.
(2) Relates to restructuring charges.
(3) Reflects change to adjusted net income definition discussed in more detail elsewhere in this release.

 

Ungeprüfte Überleitung des Nettogewinns zum bereinigten EBITDA
 
  Drei Monate zum Jahresende
(in Millionen USD) September 30, 2023   June 30, 2023   30. September 2022
           
Reingewinn für den Berichtszeitraum $ 249     $ 237     $ 336  
Abschreibung und Amortisation   366       340       395  
Finanzaufwand   37       34       28  
Finanzielle Einnahmen   (40 )     (34 )     (17 )
Ertragsteueraufwand (-ertrag)   (6 )     28       19  
Aktienbasierte Vergütung   44       44       32  
Umstrukturierungskosten   17       19       -  
Bereinigtes EBITDA(1)(2) $ 667     $ 668     $ 793  
Adjusted EBITDA margin(2)   36.0 %     36.2 %     38.2 %
                       
(1) Reflects change to adjusted EBITDA definition discussed in more detail elsewhere in this release.
(2) Adjusted EBITDA and related margin are Non-IFRS measures. See “Unaudited Reconciliation of IFRS to Non-IFRS” for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful.
 

Financial Measures (Non-IFRS)

In addition to the financial information presented in accordance with IFRS, this press release includes the following Non-IFRS metrics: adjusted gross profit, adjusted selling, general and administrative, adjusted research and development expense, adjusted operating profit, adjusted net income, adjusted diluted earnings per share, adjusted EBITDA, free cash flow and any related margins. We define adjusted gross profit as gross profit adjusted for share-based compensation expense. We define adjusted selling, general and administrative as selling, general and administrative adjusted for share-based compensation expense. We define adjusted research and development expense as research and development expense adjusted for share-based compensation expense. We define adjusted operating profit and adjusted operating expense as profit and expense, respectively, from operations adjusted for share-based compensation expense and restructuring charges. We define adjusted net income as net income adjusted for share-based compensation expense, restructuring charges and the associated tax impact. We define adjusted diluted EPS as adjusted net income divided by the dilutive shares. We define free cash flow as cash flow provided by (used in) operating activities less purchases of property, plant and equipment and intangible assets. We define adjusted EBITDA as net income, adjusted for the impact of finance expense, finance income, income tax expense, depreciation, amortization, share-based compensation expense, divestiture gains and associated expenses, restructuring charges, labor optimization initiatives and litigation settlements. We define adjusted gross margin as adjusted gross profit divided by revenue. We define adjusted operating margin as adjusted operating profit divided by net revenue. We define adjusted EBITDA margin as adjusted EBITDA divided by net revenue.

We believe that in addition to our results determined in accordance with IFRS, these Non-IFRS measures provide useful information to both management and investors in measuring our financial performance and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. These Non-IFRS financial measures provide supplemental information regarding our operating performance that excludes certain gains, losses and non-cash charges that occur relatively infrequently and/or that we consider to be unrelated to our core operations. Management believes that free cash flow as a Non-IFRS measure is helpful to investors as it provides insights into the nature and amount of cash the Company generates in the period. For further information regarding these Non-IFRS measures, please refer to “Unaudited Reconciliation of IFRS to Non-IFRS” table above.

Non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of Non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as a comparative measure.

Informationen zur Telefonkonferenz und zum Webcast

GF will host a conference call with the financial community on Tuesday, November 7, 2023 at 8:30 a.m. U.S. Eastern Time (ET) to review the Third Quarter 2023 results in detail. Interested parties may join the scheduled conference call by registering at https://register.vevent.com/register/BI8ee5e87643034b2aa9a1ae5f7e8ce393

Die Telefonkonferenz wird als Webcast übertragen und kann über die GF Investor Relations Website https://investors.gf.com abgerufen werden. Eine Aufzeichnung der Telefonkonferenz wird innerhalb von 24 Stunden nach der eigentlichen Telefonkonferenz auf der GF Investor Relations Website zur Verfügung stehen.

Über GlobalFoundries

GlobalFoundries® (GF®) ist einer der weltweit führenden Halbleiterhersteller. GF definiert Innovation und Halbleiterfertigung neu, indem es funktionsreiche Prozesstechnologielösungen entwickelt und liefert, die eine führende Leistung in allgegenwärtigen Märkten mit hohem Wachstum bieten. GF bietet eine einzigartige Mischung aus Design-, Entwicklungs- und Fertigungsdienstleistungen. Mit einer talentierten und vielseitigen Belegschaft und einer Produktionsbasis, die sich über die USA, Europa und Asien erstreckt, ist GF eine vertrauenswürdige Technologiequelle für seine weltweiten Kunden. Weitere Informationen finden Sie unter www.gf.com.

Zukunftsgerichtete Aussagen

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,” “on track,” 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; 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 current 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 damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; and global economic conditions could deteriorate, including due to increasing interest rates, rising inflation and any potential recession. 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. You should not rely upon forward-looking statements as predictions of future events. 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. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. 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. For a discussion of potential risks and uncertainties, please refer to the risk factors and cautionary statements in our 2022 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. Copies of our SEC filings are available on our Investor Relations website, investors.gf.com, or from the SEC website, www.sec.gov.

For further information, please contact:
                 
Investor Relations
[email protected]


GlobalFoundries Awarded $35 Million Funding from U.S. Government to Accelerate Manufacturing of Next-Generation GaN Chips 

In partnership with U.S. Government, GF’s semiconductor manufacturing facility in Vermont continues to move closer to large-scale production of next-generation gallium nitride chips for use in aerospace and defense, cellular communications, industrial IoT and automobiles 

ESSEX JUNCTION, VT, October 18, 2023 — GlobalFoundries (Nasdaq: GFS) (GF) has been awarded $35 million in federal funding from the U.S. government to accelerate the manufacturing of GF’s differentiated gallium nitride (GaN) on silicon semiconductors at its facility in Essex Junction, Vermont. This funding brings GF closer to large-scale production of GaN chips, which are unique in their ability to handle high voltages and temperatures. These chips are positioned to enable game-changing performance and efficiency in 5G and 6G cellular communications for infrastructure and handsets, automotive and industrial Internet of things (IoT), as well as power grids and other critical infrastructure. 

With the new $35 million in funding, awarded by the Department of Defense’s Trusted Access Program Office (TAPO), GF plans to purchase additional tools to expand development and prototyping capabilities, moving closer to at-scale 200mm GaN-on-silicon semiconductor manufacturing. As part of the investment, GF plans to implement new capabilities for reducing the exposure of GF and its customers to supply chain constraints of gallium, while improving the speed of development, assurance of supply and competitiveness of U.S-made GaN chips. 

The funding builds on years of collaboration with the U.S. government – including $40 million in support from 2020-2022 – that leverages the talent of GF’s Vermont team and their 200mm semiconductor manufacturing experience, and applies it to GaN-on-silicon manufacturing. 200mm is state-of-the-art for GaN chip technology. 

“Vermont is a leader in semiconductor innovation. This federal funding is welcome news, and will solidify our state’s position as a leader at the forefront of manufacturing next-generation chips,” said Senator Peter Welch. “It’s critical we support investment in this industry here in Vermont and in the U.S. – both for our local economic growth and for our national security. I look forward to continuing to fight for our domestic semiconductor and chip manufacturers in the Senate.” 

“This strategic investment continues to strengthen our domestic ecosystem of critical dual-use commercial technologies, ensuring they’re readily available and secure for DoD utilization. In concert with key partners, we’re proactively shaping the future of our defense systems,” said The Honorable Christopher J. Lowman, Assistant Secretary of Defense for Sustainment. 

“GaN on silicon is an ideal technology for high performance radio frequency, high voltage power switching and control applications for emerging markets, and it’s important for 6G wireless communications, industrial IoT, and electric vehicles,” said Dr. Thomas Caulfield, president and CEO of GF. “GF has a longstanding partnership with the U.S. government, and this funding is critical to move GaN on silicon chips closer to volume production. These chips will enable our customers to realize bold new designs that push the envelope of energy efficiency and performance of critical technologies we rely on every day.” 

GF’s facility in Essex Junction, Vermont, near Burlington, was among the first major semiconductor manufacturing sites in the United States. Today around 1,800 GF employees work at the site. Built on GF’s differentiated technologies, these GF-made chips are used in smartphones, automobiles, and communications infrastructure applications around the world. The facility is a DMEA accredited Trusted Foundry and manufactures secure chips in partnership with the U.S. Department of Defense, for use in some of the nation’s most sensitive aerospace and defense systems. 

Über 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.  

GF, GlobalFoundries, die GF-Logos und andere GF-Marken sind Marken von GlobalFoundries Inc. oder ihrer Tochtergesellschaften. Alle anderen Marken sind das Eigentum ihrer jeweiligen Inhaber.  

Zukunftsorientierte Informationen  

Diese Pressemitteilung kann zukunftsgerichtete Aussagen enthalten, die mit Risiken und Ungewissheiten verbunden sind. Die Leser werden davor gewarnt, sich auf diese zukunftsgerichteten Aussagen zu verlassen. Diese zukunftsgerichteten Aussagen beziehen sich nur auf das Datum dieser Pressemitteilung. GF ist nicht verpflichtet, diese zukunftsgerichteten Aussagen zu aktualisieren, um sie an Ereignisse oder Umstände nach dem Datum dieser Pressemitteilung oder an die tatsächlichen Ergebnisse anzupassen, sofern dies nicht gesetzlich vorgeschrieben ist. 

Medienkontakte: 

Michael Mullaney
[email protected] 

GlobalFoundries and U.S. Department of Defense Showcase Secure Chip Manufacturing at 2023 Trusted Foundry Training

Annual event for aerospace and defense industry showcases necessity, value of Trusted chip manufacturing 

MALTA, N.Y., Oct. 12, 2023 – GlobalFoundries (Nasdaq: GFS) (GF) and the U.S. Department of Defense (DoD) will host a group of leaders and technologists from across the aerospace and defense industry on October 18-19 at GF’s Trusted Foundry Training 2023 in Arlington, Virginia. The invite-only event will showcase the critical role of Trusted chip manufacturing for sensitive national defense applications and highlight how essential chips securely manufactured by GF are enabling innovation and provide an efficient path to new technology development across a range of markets. 

The 2023 Trusted Foundry Training builds on the announcement last month of the DoD awarding GF a new $3.1 billion, 10-year contract for a supply of securely manufactured, U.S.-made semiconductors for use across a wide range of critical aerospace and defense applications. The new contract was the third sequential 10-year contract of its kind between the DoD and the Trusted Foundry business team at GF. 

At the Trusted Foundry Training event, Steven J. Morani, DoD principal deputy assistant secretary of defense for sustainment, will deliver the keynote address on Oct. 18. In addition, Dr. Nicholas Martin, director of DoD’s Defense Microelectronics Activity (DMEA), Aman Gahoonia, director of the DMEA’s Trusted Access Program Office (TAPO), and Dr. Carl McCants, special assistant to the DARPA director, along with other leaders from government and the defense sector, will take the stage to discuss Trusted chip manufacturing and provide key updates to the DoD’s Trusted Foundry program. 

On Oct. 19, Igor Arsovski, fellow and head of silicon technology at AI startup Groq, will deliver the keynote “Waking up to AI.” Along with presentations from the GF team on the company’s silicon photonics, gallium nitride, silicon germanium and other wide bandgap technologies, day two of the event will include discussions around supply chain resiliency and transparency, chips for harsh environments, and conclude with remarks from GF’s Ezra Hall, senior director of aerospace and defense, about the benefits of enhanced chip manufacturing security for companies outside the defense sector.​ 

“As the leading supplier of securely manufactured essential chips for the U.S. aerospace and defense industry, and a longstanding partner to the U.S. Department of Defense, GF is uniquely positioned to convene this group of leaders and decision makers for a wide-ranging discussion on Trusted chip manufacturing,” said Mike Cadigan, chief corporate and government affairs officer at GF, who will kick off the event on Oct. 18. “Defense contractors will hear straight from the source how GF Trusted manufacturing, our platforms and solutions, our design enablement and turnkey services, when paired with our industry-leading IP offerings and design tools, are accelerating design cycles and enabling our customers to speed up their time to market for new technologies.” 

GF’s U.S. facilities are DoD-accredited to the highest level, Trusted Supplier Category 1A, which implements proven stringent security measures to protect sensitive information and manufacture chips with the highest levels of integrity to ensure they are uncompromised. 

Über 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. 

Zukunftsorientierte Informationen 

Diese Pressemitteilung kann zukunftsgerichtete Aussagen enthalten, die mit Risiken und Ungewissheiten verbunden sind. Die Leser werden davor gewarnt, sich auf diese zukunftsgerichteten Aussagen zu verlassen. Diese zukunftsgerichteten Aussagen beziehen sich nur auf das Datum dieser Pressemitteilung. GF ist nicht verpflichtet, diese zukunftsgerichteten Aussagen zu aktualisieren, um sie an Ereignisse oder Umstände nach dem Datum dieser Pressemitteilung oder an die tatsächlichen Ergebnisse anzupassen, sofern dies nicht gesetzlich vorgeschrieben ist. 

Media Contact 

Michael Mullaney 
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GlobalFoundries Announces Conference Call to Review Third Quarter 2023 Financial Results

MALTA, N.Y., Oct. 02, 2023 (GLOBE NEWSWIRE) — GlobalFoundries (NASDAQ: GFS) today announced that it will host a conference call on Tuesday, November 7, 2023, at 8:30 a.m. ET following the release of the company’s third quarter 2023 financial results.

Informationen zur Telefonkonferenz und zum Webcast

The company will host a conference call with the financial community on Tuesday, November 7, 2023, at 8:30 a.m. ET. Interested parties may join the scheduled conference call by registering here.

Die Finanzergebnisse des Unternehmens und ein Webcast der Telefonkonferenz werden auf der Investor Relations Website von GlobalFoundries unter https://investors.gf.com verfügbar sein .

Über GF

GlobalFoundries Inc. (GF) ist einer der weltweit führenden Halbleiterhersteller. GF definiert Innovation und Halbleiterherstellung neu, indem es funktionsreiche Prozesstechnologielösungen entwickelt und liefert, die eine führende Leistung in allgegenwärtigen, wachstumsstarken Märkten bieten. GF bietet eine einzigartige Mischung aus Design-, Entwicklungs- und Fertigungsdienstleistungen. Mit einer talentierten und vielseitigen Belegschaft und einer Produktionsbasis, die sich über die USA, Europa und Asien erstreckt, ist GF eine vertrauenswürdige Technologiequelle für seine weltweiten Kunden. Weitere Informationen finden Sie unter www.gf.com.

©GlobalFoundries Inc. GF, GlobalFoundries, die GF-Logos und andere GF-Marken sind Marken von GlobalFoundries Inc. oder seinen Tochtergesellschaften. Alle anderen Marken sind das Eigentum ihrer jeweiligen Inhaber. 

Für weitere Informationen wenden Sie sich bitte an:

[email protected] 

GlobalFoundries Unveils Power-Efficient Advancements to 22FDX® Platform at Annual Tech Summit

New Features, Temperature-Resilient Capabilities Meet Growing Demands in IoT and Automotive Industries

MUNICH, September 27, 2023 – Today at its annual Technology Summit in Europe, GlobalFoundries (GF) (Nasdaq: GFS) announced advancements to its industry-leading 22FDX® (22nm FD-SOI) platform, introducing a suite of innovative features and enhancements. These enhancements represent a strategic response to the growing demand for better power efficiency and top-tier performance in both IoT and automotive applications.

The new features include ultra-low power memory, designed to operate with exceptional energy efficiency, even in the most power-sensitive environments. Additionally, GF’s 22FDX platform introduces advanced temperature-resistant capabilities, which are critical for the auto industry as they ensure the long-term durability, reliability and safety of vehicle electronic systems, particularly in high-heat environments found under the hood and during demanding operations. The technology also offers optimized energy management, allowing for intelligent power consumption and improved battery life in a variety of devices.

In the rapidly expanding network of IoT devices, new features on 22FDX+ offer several advancements, including 0.5pA/cell memories and ultra-low retention leakage flops to minimize power in sleep mode; 0.4V standard cells libraries and memories with 30% lower power savings; and an expanded suite of devices that provide greater than 20% noise performance, up to 70% higher Q-factor, and lower switching loss to reduce analog power and area. 

For the automotive industry, GF announced 22FDX+ AutoPro™ 150. This offering extends the capabilities of 22FDX+ for use in automotive up to 150°C with corner tightened standard cell libraries and optimized SRAM compilers to boost chip performance by 10% or reduce power consumption by up to 20%. Novel SRAM bitcells and compilers that are optimized with reverse body-biasing, a capability only possible in FDSOI technology, can deliver up to 60% leakage reduction at 150°C junction temperature.

“GlobalFoundries is at the forefront of tackling power consumption challenges in IoT and automotive industries, where achieving the lowest power possible is paramount. With our world-class wireless connectivity and our smart and secure chips, we’re driving the development of intelligent connected devices that can operate under harsh environments with the best power efficiency. GF is uniquely positioned to empower billions of connected devices to operate efficiently, and we’re proud to partner with industry leaders like Nordic Semiconductor to deliver a compact, ultra-low power, high-performance chip with advanced memory, multiprotocol radio and top-tier security features,” said Niels Anderskouv, Chief Business Officer at GF.

“Decades of ultra-low-power wireless expertise have come together to form the nRF54 Series,” said Svein-Egil Nielsen, CTO and EVP of R&D at Nordic Semiconductor. “We’re pleased to partner with GF on this journey. Our first SoC from the fourth generation of Bluetooth LE solutions, the nRF54H20, not only represents a significant milestone for Nordic but also allows Nordic’s customers to build end-products far more advanced and efficient than those we see today. This SoC, the inaugural offering in the nRF54 Series, proves ideal for disruptive IoT applications that require high processing power, exceptional energy efficiency, and state-of-the-art security.”

About GTS

GF Technology Summit (GTS) 2023 is GF’s worldwide, annual series of technology-focused events. GTS brings together leaders from the commercial, business and research worlds to understand the latest technology challenges and opportunities, and partner to create the most innovative applications and solutions.

Über 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.

Zukunftsorientierte Informationen

Diese Pressemitteilung kann zukunftsgerichtete Aussagen enthalten, die mit Risiken und Ungewissheiten verbunden sind. Die Leser werden davor gewarnt, sich auf diese zukunftsgerichteten Aussagen zu verlassen. Diese zukunftsgerichteten Aussagen beziehen sich nur auf das Datum dieser Pressemitteilung. GF ist nicht verpflichtet, diese zukunftsgerichteten Aussagen zu aktualisieren, um sie an Ereignisse oder Umstände nach dem Datum dieser Pressemitteilung oder an die tatsächlichen Ergebnisse anzupassen, sofern dies nicht gesetzlich vorgeschrieben ist. 

Medienkontakt

Erica McGill
GF
[email protected]
518-795-5240

GlobalFoundries and Microchip Announce Microchip’s 28nm SuperFlash® Embedded Flash Memory Solution in Production

Widely deployed non-volatile memory (NVM) solution is optimized for microcontrollers, smartcards, and IoT chips

CHANDLER, Ariz., and Malta, New York, September 27, 2023 – GlobalFoundries (GF) (Nasdaq: GFS) and Microchip Technology (Nasdaq: MCHP), via its Silicon Storage Technology (SST) subsidiary, today announces the immediate release to production of the SST ESF3 third-generation embedded SuperFlash non-volatile memory (NVM) solution in the GF 28SLPe foundry process.

GF has established a new industry benchmark for implementing SST’s widely deployed ESF3 SuperFlash technology. This implementation delivers the following capabilities and benefits:

  • Lowest cost 28nm HKMG ESF3 solution with only 10 masks added, incl. true 5V IO CMOS devices
  • Highly competitive SST ESF3 bitcell size of only 0.04 micron squared
  • Operating temperature rating of -40 degrees C to 125 degrees C
  • Sub-25 nanosecond (ns) read access times, 10 microsecond program times and 4 millisecond erase times
  • Endurance exceeding 100,000 program/erase cycles
  • No impact to design flows using GF 28SLPe platform-qualified IP (EG flow)
  • Immediate availability of off-the-shelf macros, from 4 megabits (Mb) to 32 Mb
  • Access to custom macro design support from SST or GF

Use cases for embedded flash are exploding with the drive for increased intelligence at the edge.  Embedded memory for secure code storage, over-the-air-updates and enhanced functionality is on the rise in a wide range of applications in Home and Industrial IoT as well as Smart Mobile Devices.  Innovative platforms are required to meet these needs. 

“GF is proud to partner with SST to develop, qualify, and release to production this impressive embedded NVM solution on our robust 28SLPe platform,” said Mike Hogan, Chief Business Unit Officer at GF. “GF’s customers are finding this combination of high performance, excellent reliability, IP availability, and cost effectiveness to be ideal for advanced MCUs, complex smart cards, and IoT chips for consumer and industrial products.”

“SST and GF have partnered closely over the last decade to integrate and productize SST’s industry-standard ESF1 and ESF3 embedded Flash technologies into GF’s 130nm BCD, 55nm, 40nm, and now 28nm foundry platforms,” added Mark Reiten, vice president of SST, Microchip’s licensing business unit. “We are excited by the leadership position GF is establishing for the broadest offering of embedded NVM solutions and expect our close partnership to deliver additional breakthroughs over the coming decade.”

SST is exhibiting its embedded Flash technology in the IP partner area during today’s GF Technology Summit in Munich.

Customers interested in GF’s ESF1 and ESF3 platform solutions should access the GF website located at www.gf.com/technology-platforms and contact us for more information at www.gf.com/about-us/contact-us.

Customers interested in SST’s ESF1, ESF3, and SuperFlash® memBrain™ neuromorphic memory solution IP offerings should contact [email protected] or the appropriate regional contact listed on the SST website.

About Silicon Storage Technology (SST)

Microchip Technology’s SST subsidiary is a leading provider of embedded flash technology. SST develops, designs, licenses and markets a diversified range of proprietary and patented SuperFlash memory technology solutions for the consumer, industrial, automotive and Internet of Things (IoT) markets. SST was founded in 1989, went public in 1995 and was acquired by Microchip in April 2010. SST is now a wholly owned subsidiary of Microchip and is headquartered in San Jose, Calif. For more information, visit the SST website at www.sst.com.

Über Microchip Technology

Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company’s solutions serve more than 125,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.

Über 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.

###

Note: The Microchip name and logo, the Microchip logo, SuperFlash and SST are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. memBrain is a trademark of Microchip Technology Inc. in the U.S.A. and other countries. All other trademarks are the property of their respective companies.

Editorial Contact:

Brian Thorsen
480-792-7182
[email protected]

Reader Inquiries:

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Industry Leaders Gather in Europe for GF Technology Summit 2023

Munich Event Highlights Technology Advancements and Unveils Essential Chips Roadmap

MUNICH, September 26, 2023 – At its annual Technology Summit in Europe beginning September 27th, GlobalFoundries (GF) (Nasdaq: GFS), is highlighting key advancements to its technology platforms and solutions that will enable better power efficiency, enhanced performance and security for applications across critical end markets including IoT, smart mobile and automotive. These milestones highlight GF’s semiconductor manufacturing leadership in product development, validation and market readiness for critical applications in IoT, 5G and 6G smartphones, and electric vehicles.

Building upon the GF Technology Summit in North America this past August, the sessions in Munich will focus on leading at the edge, manufacturing semiconductors in a digital, AI-driven, world through the evolving landscape of communications infrastructure and the electrification of vehicles.

GF’s President and CEO, Dr. Thomas Caulfield, will kick-off the event with a keynote address entitled “Essential chips fuel the era of AI,” which emphasizes the transformative potential of these technologies and their significance in the rapidly evolving semiconductor landscape. In addition, Peter Schiefer, Infineon Division President Automotive, Jean-Marc Chery, President and CEO of STMicroelectronics and Karsten Schnake, Board Member for Procurement at of ŠKODA AUTO & Head of Project COMPASS at Volkswagen AG will take the stage.

Dr. Thomas Caulfield, joined by leaders in the fabless semiconductor and end-markets industries, will also share GF’s corporate vision for manufacturing the essential chips we rely on to live, work, and connect. In addition, GF’s technology and product management leaders, accompanied by partners in the semiconductor design and manufacturing ecosystem, will outline the company’s technology and solutions roadmap.

Held at the Sofitel Munich Bayerpost, the two-day summit also introduces a new format. This year, representatives from GF’s Technology, Business, and Commercial teams are on hand to host small group meetings, facilitating deeper discussions and partnerships with GF customers.

About GTS

GF Technology Summit (GTS) 2023 is GF’s worldwide, annual series of technology-focused events. GTS brings together leaders from the commercial, business and research worlds to understand the latest technology challenges and opportunities, and partner to create the most innovative applications and solutions.

Über 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.

Zukunftsorientierte Informationen

Diese Pressemitteilung kann zukunftsgerichtete Aussagen enthalten, die mit Risiken und Ungewissheiten verbunden sind. Die Leser werden davor gewarnt, sich auf diese zukunftsgerichteten Aussagen zu verlassen. Diese zukunftsgerichteten Aussagen beziehen sich nur auf das Datum dieser Pressemitteilung. GF ist nicht verpflichtet, diese zukunftsgerichteten Aussagen zu aktualisieren, um sie an Ereignisse oder Umstände nach dem Datum dieser Pressemitteilung oder an die tatsächlichen Ergebnisse anzupassen, sofern dies nicht gesetzlich vorgeschrieben ist. 

Medienkontakt

[email protected]

GlobalFoundries Announces Opening of New Malaysia Office to Support Global Manufacturing Operations

  • Engineering team in Penang, Malaysia is part of a strategic hub network that will provide round-the-clock support for GF’s global manufacturing operations
  • Penang office will utilize the latest digital manufacturing technologies such as remote access and state-of-the-art Factory Control Tower
  • New site will create 300 new jobs for engineering and manufacturing support roles in Penang

SINGAPORE, SEPTEMBER 26, 2023 – GlobalFoundries (Nasdaq: GFS) (GF) today announced the official opening of a new hub facility in Penang, Malaysia. This new facility will create 300 high-value manufacturing support roles, including technicians, engineers, administrative and support functions.

The GF Malaysia office is part of a strategic hub network that leverages the Company’s global footprint and complements GF’s global fab operations by providing engineering resources to supplement operations on a real-time basis. This site will utilize the latest digital manufacturing technologies such as remote access, Industry 4.0 solutions and GF’s state-of-the-art Factory Control Tower.

The event was graced by Yang Amat Berhormat Tuan Chow Kon Yeow, Chief Minister of Penang, Dato’ Loo Lee Lian, CEO of InvestPenang, guests from Malaysia Digital Economy Corporation (MDEC), and Kay Chai (KC) Ang, Chief Manufacturing Officer of GlobalFoundries, amongst others.

The new Penang operation will ensure that all of GF’s global manufacturing sites in Singapore, the U.S., and Europe have fundamental round-the-clock support enabling the company to maintain supply chain resiliency and sustainability for global operations, as GF continues to deliver on our commitments to meet the market demand for GF chips.

“Our newly opened Malaysia operations will leverage the strengths of our existing global manufacturing footprint and harmonize operations across all sites, offering customers truly world-class global operations,” said Mr. Kay Chai (KC) Ang, Chief Manufacturing Officer, GlobalFoundries. “Penang is a vibrant location at the forefront of semiconductor manufacturing innovation. The forward-thinking policies of the government have built a strong ecosystem and attracted a large base of highly skilled talent in our industry that will enable us to diversify our talent pool,” he added.

YAB Tuan Chow Kon Yeow, Chief Minister of Penang, stated, “At a time where business and supply chain resiliency are key priorities, GlobalFoundries’ global manufacturing footprint sets the company ahead of the pack. Particularly, the Company’s emphasis on digital manufacturing also aligns with Penang’s goals and roadmap as we continue to anchor our position as the Silicon Valley of the East.”

Ts. Mahadhir Aziz, Chief Executive Officer of Malaysia Digital Economy Corporation (MDEC) said, “MDEC is elated to welcome GlobalFoundries onto our shores. The establishment of its new hub facility signifies confidence in Malaysia’s robust and enabling ecosystem, our pool of digitally skilled talent and world-class infrastructure that affirms Malaysia’s position as the digital hub of ASEAN. Through the Malaysia Digital (MD) national strategic initiative and PEMANGKIN programs, we look forward to supporting GlobalFoundries’ expansion in Malaysia, transforming our digital capabilities, creating job opportunities, and further enhancing growth in the digital economy.”

Malaysia hopes to achieve a 15% market share in the semiconductor and electronics industry by 2030, up from 13%. The State, via InvestPenang, strives to provide continuous assistance and facilitation for all investors in Penang, while spearheading the development of a sustainable industrial ecosystem, and GF stands ready to support this effort with the opening of its new office.

The GF Malaysia office is located at Bayan Lepas, Penang, and will be a complement to the recently opened GF Singapore fabrication plant. The close proximity between both countries provides opportunities for cross-border initiatives and broadening the talent pool.

About InvestPenang

InvestPenang is the Penang State Government’s principal agency for promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs) and Penang CAT Center (for talent attraction and retention). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook; LinkedIn.

Über GF

GlobalFoundries (GF) ist einer der weltweit führenden Halbleiterhersteller. GF definiert Innovation und Halbleiterfertigung neu, indem es funktionsreiche Prozesstechnologielösungen entwickelt und liefert, die eine führende Leistung in allgegenwärtigen Märkten mit hohem Wachstum bieten. GF bietet eine einzigartige Mischung aus Design-, Entwicklungs- und Fertigungsdienstleistungen. Mit einer talentierten und vielseitigen Belegschaft und einer Produktionsbasis, die sich über die USA, Europa und Asien erstreckt, ist GF eine vertrauenswürdige Technologiequelle für seine weltweiten Kunden. Weitere Informationen finden Sie unter 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.

Zukunftsorientierte Informationen

Diese Pressemitteilung kann zukunftsgerichtete Aussagen enthalten, die mit Risiken und Ungewissheiten verbunden sind. Die Leser werden davor gewarnt, sich auf diese zukunftsgerichteten Aussagen zu verlassen. Diese zukunftsgerichteten Aussagen beziehen sich nur auf das Datum dieser Pressemitteilung. GF ist nicht verpflichtet, diese zukunftsgerichteten Aussagen zu aktualisieren, um sie an Ereignisse oder Umstände nach dem Datum dieser Pressemitteilung oder an die tatsächlichen Ergebnisse anzupassen, sofern dies nicht gesetzlich vorgeschrieben ist.

Medienkontakt:

Luana Low
GlobalFoundries
[email protected]

Elaine Cheah / Michelle Goy
InvestPenang
[email protected] / [email protected]

GlobalFoundries Submits Applications for U.S. CHIPS and Science Act Funding

GF seeking funding to support capacity expansion and modernization of its U.S. fabs

MALTA, N.Y., Sept. 25, 2023 – GlobalFoundries (Nasdaq: GFS) (GF) announced today it has applied for U.S. CHIPS and Science Act Funding, with two full applications submitted to the CHIPS Program Office of the U.S. Department of Commerce. The submitted applications are for capacity expansion and modernization of GF’s U.S. manufacturing facilities.

“As the leading manufacturer of essential semiconductors for the U.S. government, and a vital supplier to the automotive, aerospace and defense, IoT and other markets, GF has submitted our applications to the CHIPS Program Office to participate in the federal grants and investment tax credits enabled by the U.S. CHIPS and Science Act,” said Steven Grasso, senior director of global government affairs at GF. “This federal support is critical for GF to continue growing its U.S. manufacturing footprint, strengthening U.S economic security, supply chain resiliency, and national defense.”

GF is a longstanding partner to the U.S. government and the leading supplier of securely manufactured essential chips for the U.S. aerospace and defense industry. GF-made essential chips are driving innovation, increasing power efficiency, and minimizing the total cost of ownership for products in high-growth markets including automotive, data center, IoT, aerospace and defense, and smart mobile.

Über 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.

GF, GlobalFoundries, die GF-Logos und andere GF-Marken sind Marken von GlobalFoundries Inc. oder ihrer Tochtergesellschaften. Alle anderen Marken sind das Eigentum ihrer jeweiligen Inhaber.

Zukunftsorientierte Informationen

Diese Pressemitteilung kann zukunftsgerichtete Aussagen enthalten, die mit Risiken und Ungewissheiten verbunden sind. Die Leser werden davor gewarnt, sich auf diese zukunftsgerichteten Aussagen zu verlassen. Diese zukunftsgerichteten Aussagen beziehen sich nur auf das Datum dieser Pressemitteilung. GF ist nicht verpflichtet, diese zukunftsgerichteten Aussagen zu aktualisieren, um sie an Ereignisse oder Umstände nach dem Datum dieser Pressemitteilung oder an die tatsächlichen Ergebnisse anzupassen, sofern dies nicht gesetzlich vorgeschrieben ist.

Medienkontakt

Michael Mullaney
[email protected]

U.S. Government Awards GlobalFoundries New $3.1 Billion, 10-Year Contract for Secure Chip Manufacturing  

With $3.1 billion spending ceiling, new 10-year contract provides U.S. Dept. of Defense an assured supply of securely manufactured semiconductors for use in the nation’s most sensitive applications 

MALTA, N.Y., Sept. 21, 2023 – The U.S. Department of Defense (DoD) has awarded GlobalFoundries (Nasdaq: GFS) (GF) a new 10-year contract for a supply of securely manufactured, U.S.-made semiconductors for use across a wide range of critical aerospace and defense applications. 

With an initial award of $17.3 million this month and an overall 10-year spending ceiling of $3.1 billion, the new contract provides the DoD and its contractors with access to GF’s semiconductor technologies manufactured at its U.S. facilities. These GF facilities are DoD-accredited to the highest security level, Trusted Supplier Category 1A, which implements proven stringent security measures to protect sensitive information and manufacture chips with the highest levels of integrity to ensure they are uncompromised. 

In addition to secure chip manufacturing for DoD systems used on land, air, sea, and in space, the new contract provides the DoD and its contractors with access to GF’s robust design ecosystem, IP libraries, early-access to new technologies in development, quick and efficient prototyping, and full-scale volume manufacturing. The contract was awarded through the DoD’s Defense Microelectronics Activity (DMEA) Trusted Access Program Office (TAPO). 

“GF is proud to begin this new chapter of our decades-long partnership with the U.S government, and to continue serving as the leading supplier of securely manufactured essential chips for the U.S. aerospace and defense industry,” said Mike Cadigan, chief corporate and government affairs officer at GF. “This partnership provides DoD programs with ‘front-door access’ to advanced technologies in a way that is scalable and highly efficient. For this work, GF is accredited to provide the right level of security required for each program, from GF’s industry leading GF Shield protections, to strictly export controlled handling (e.g. ITAR), to the highest level of accredited microelectronics manufacturing security on the planet, Trusted Category 1A.” 

This new contract is the third sequential 10-year contract of its kind between the DoD and the Trusted Foundry business team at GF and is the latest milestone in the longstanding partnership between the department and the company. Click here to learn more about the importance and impact of GF’s Trusted Foundry accreditations. 

Über 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. 

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