Qualcomm, GlobalFoundries sign pact to double chip manufacturing

:Qualcomm and GlobalFoundries signed an agreement on Monday to more than double their existing long-term manufacturing agreement for chips used in 5G transceivers, Wi-Fi, automotive and Internet of Things connectivity.

The companies committed to support U.S.-based manufacturing by expanding capacity at GlobalFoundries' most advanced semiconductor manufacturing facility, in Malta, New York. GlobalFoundries Chief Executive Thomas Caulfield said in a statement that having Qualcomm as a long-term customer of its upstate New York factory through 2028 would help, along with federal and state funding, to expand the company's U.S. manufacturing footprint.

"With major new federal incentives for microchip manufacturing in the United States, I look forward to many more announcements like this to come," said Senate Majority Leader Chuck Schumer.

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