GlobalFoundries' executive chair on domestic chip manufacturing

Government Initiatives & Industry Support - The US government, through the Trump administration and Secretary Lethnik, aimed to bring domestic semiconductor manufacturing back to the US for economic, supply chain, and national security reasons [2][3][5] - The CHIPS Act and tariff proposals are complementary, with the CHIPS Act providing economic tools for capacity building and tariffs shifting demand to fill that capacity [4] - Government involvement is seen as necessary to bolster the semiconductor industry, although discussions with GlobalFoundries (GF) have not included the government taking an equity stake [6][7] Business Strategy & Market Dynamics - Businesses have the autonomy to choose how they satisfy customers based on their business and financial models [2][6] - GlobalFoundries (GF) is prepared to expand its manufacturing scale in the US [2] - Customers are recognizing the need to pull back from globalization to create a more balanced and resilient supply chain, with the US playing a more significant role [8] - GlobalFoundries (GF) will build at the rate and pace that customers need to bring domestic supply home [9] Capital Expenditure & Investment - GlobalFoundries (GF) has discussed a $16 billion capital expansion leveraging CHIPS funding and investment tax credits [10] - The pace of capital deployment is dependent on securing customer commitments to bring more supply back to the US [10]