Abu Dhabi's ATIC to invest $10bn in US chip plant
Advanced Technology Investment Co outlines investment plan for GlobalFoundaries
Abu Dhabi's Advanced Technology Investment Co (ATIC) could invest up to $10bn in acquired US chip-maker GlobalFoundries over the next two years, the company told Reuters this weekend.
ATIC completed its acquisition of GlobalFoundries in March 2012. The announced investment will concentrate on a factory in upstate New York, according to ATIC chief executive Ibrahim Ajami.
"We have received commitments from Mubadala [Abu Dhabi's sovereign-wealth fund, and owner of ATIC] for an additional $9bn to $10bn for expansion of our facility in New York," Ajami said.
The Saratoga County, New York factory opened in 2012 and has ramped up production capacity to 60,000 300mm wafers a month. ATIC plans to expand the facility's churn-out to include 20- and 14-nanometre [billionth of a metre] offerings, which will be vital to makers of mobile handsets.