GlobalFoundries Secures $21 Billion for New Chip Plants Under US-Japan Deal

GlobalFoundries Inc. plans to build two new chip plants with support from the Japanese government worth up to $21 billion as part of an agreement that also includes a U.S. stake of 4% in the company. Under the deal announced Wednesday, GlobalFoundries will operate facilities on land in northern New York State, jointly owned by the United States and Japan. Funding for the plants will come from Japan's pledged $550 billion investment in the U.S.