GlobalFoundries

GlobalFoundries Inc. (GF) is a multinational semiconductor contract manufacturing and design company incorporated in the Cayman Islands and headquartered in Malta, New York. Created by the divestiture of the manufacturing arm of AMD, the company was privately owned by Mubadala Investment Company, the sovereign wealth fund of the United Arab Emirates, until an initial public offering (IPO) in October 2021. The company manufactures integrated circuits on wafers designed for markets such as mobility, automotive, computing and wired connectivity, consumer internet of things (IoT) and other industrial applications. As of 2021, GlobalFoundries is the fourth-largest semiconductor manufacturer; it produces chips for more than 7% of the $86 billion semiconductor manufacturing services industry. It is the only one with operations in Singapore, the European Union, and the United States: one 200 mm and one 300 mm wafer fabrication plant in Singapore; one 300 mm plant in Dresden, Germany; one 200 mm plant in Burlington, Vermont (where it is the largest private employer) and one 300 mm plant in the State of New York: in Malta. GlobalFoundries is a "Trusted Foundry" for the U.S. federal government and has similar designations in Singapore and Germany, including certified international Common Criteria standard (ISO 15408, CC Version 3.1). On October 28, 2021, the company sold shares in an IPO on the Nasdaq stock exchange at US$47 each, at the higher end of its targeted price range, and raised about US$2.6 billion. On October 7, 2008, AMD announced it planned to go fabless and spin off their semiconductor manufacturing business into a new company temporarily called The Foundry Company. Mubadala announced their subsidiary Advanced Technology Investment Company (ATIC) agreed to pay$700 million to increase their stake in AMD's semiconductor manufacturing business to 55.6% (up from 8.1%). Mubadala will invest $314 million for 58 million new shares, increasing their stake in AMD to 19.3$1.2 billion of AMD's debt will be transferred to The Foundry Company.