U.S. President Trump announced plans to invest $21 billion in Japanese funds to build two semiconductor plants operated by GlobalFoundries in Malta, New York State. The plants will be jointly owned by the United States and Japan, with Renesas and Apple confirmed as initial customers.
Under the investment plan, the full $21 billion in Japanese funds will be invested, and GlobalFoundries will build and operate two semiconductor plants in Malta, New York State. The plants will be jointly owned by the United States and Japan, with Renesas Electronics and Apple cited as initial customers.
Under a separate agreement, the U.S. government will acquire an additional 4% stake in GlobalFoundries, raising its ownership interest to approximately 7%. CEO Breen explained the structure, including this change in share ownership, with demand in both the United States and Japan in mind.
The project is expected to create approximately 27,000 jobs in construction and the supply chain, and more than 1,000 jobs in manufacturing. The investment is being advanced under last year's U.S.-Japan agreement on investment in the United States.
Operations at the new plants are targeted to begin in 2029, while the schedule for advancing the second plant will be determined based on market demand. The renewed inflow of Japanese capital is expected to benefit Japanese equipment manufacturers as well.