GloFo to invest $10bn in New York

Globalfoundries will spend up to $10 billion in the next two years on 20nm and 14 nm processing capacity in New York.

Mubadala, the AbuDhabi state investment fund which controls GloFo’s owner the Abu Dhabi Advanced Technology Investment Company (ATIC) has approved a $9 billion to $10 billion budget for expanding the New York facility, according to ATIC CEO Ibrahim Alami.

Currently GloFo’s New York fab has a capacity of 60,000 300mm wafers a month.

GloFo’s chief rival and the No.1 foundry company, TSMC, has a capex budget of $10.6 billion for 2014.

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