STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSINGAPORE - GlobalFoundries, the world's third-largest contract chipmaker, opened a $4 billion semiconductor fabrication plant in Singapore on Tuesday, as part of a major global manufacturing expansion.
"If we run capacity to the fullest, that will probably be 45% of revenue for GlobalFoundries," he said, adding that the company expected weak global demand for chips to pick up by the second half of 2024. GlobalFoundries announced a $6 billion global expansion in 2021 amid a chip shortage during the pandemic that has since reversed into a surplus.
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