Benzingaยท2025-10-28 19:05Core Viewpoint - GlobalFoundries announced a significant expansion of 1.1 billion euros in Dresden, aiming to increase production capacity to over one million wafers annually by late 2028, amidst the unexpected resignation of its CFO [1][7]. Expansion Details - The expansion project, named SPRINT, will receive support from the German federal government and the State of Saxony under the European Chips Act, with full approval anticipated by late 2025 [1][2]. - This initiative enhances Saxony's status as a microelectronics hub and aligns with Europe's efforts to stabilize its supply chain [2][3]. Market Focus - The new production lines will concentrate on power-efficient chips, embedded security features, and wireless applications, catering to sectors such as automotive technology, IoT devices, defense systems, and critical infrastructure [4][5]. - The demand for specialized semiconductor performance is driven by advancements in physical AI technologies [4]. Strategic Commitment - The CEO of GlobalFoundries emphasized that the expansion is part of the company's strategy to meet Europe's needs for secure supply chains and differentiated technologies [5][6]. - GlobalFoundries has invested over 10 billion euros in the Dresden facility since 2009 and has joined Germany's "Made for Germany" initiative, indicating a long-term commitment to the region [6]. Leadership Change - The company announced the resignation of its CFO, John Hollister, effective immediately, with Senior Vice President Sam Franklin appointed as interim CFO during the search for a permanent replacement [7].