GlobalFoundries receives $1.5 billion in subsidies and $1.6 billion in loans from the U.S. government

GlobalFoundries, the largest foundry in the United States, is also a major beneficiary of the U.S. Chips and Science Act. Earlier this year, the U.S. Department of Commerce announced that it would provide GlobalFoundries with $1.5 billion in subsidies and $1.6 billion in loans to expand its wafer manufacturing business in New York State, with plans to triple its production capacity in the next 10 years.