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The United States has granted GlobalFoundries $1.5 bn to bolster domestic semiconductor manufacturing, aiming to address the ongoing chip shortage affecting various industries worldwide. This funding is part of the government's efforts to enhance the country's semiconductor supply chain and reduce reliance on imports, particularly from Asia. GlobalFoundries, a major player in the semiconductor industry, will utilize the funds to expand its production capacity and develop advanced chip technologies. The investment aims to strengthen national security and economic competitiveness, ensuring a stable supply of semiconductors critical for various applications, including consumer electronics, automotive, and defence.
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