UAE-backed GlobalFoundries and TSMC announce $2bn manufacturing agreement
GlobalFoundries, which is based in New York and partly owned by Abu Dhabi's Mubadala Investment Company, announced a $2 billion deal with Taiwan Semiconductor Manufacturing Company to bolster US chip manufacturing. GlobalFoundries said it would supply TSMC with silicon interposers, used to help chips communicate on logic boards, with large-scale production expected at the start of 2028. The company's stock gained 2.8 per cent to 49.44 per share on Thursday.
Why it matters: The agreement sits within the briefing's semiconductor supply-chain theme, at a time when the US and China compete to exert influence in the AI sector.