Abu Dhabi-based Advanced Technology Investment Company plans to drop $10 billion into GlobalFoundries' semiconductor factory in New York, the company has confirmed.
Speaking to Reuters in an interview published on Friday, ATIC CEO Ibrahim Ajami said that the $10 billion investment will be made over a period of two years. The funds will be used to expand the chipmaker's factory and allow for the production of 20- and 14-nanometer nodes. Producing chips with these smaller nodes will allow device makers to build yet smaller products -- like thinner phones and tablets.
GlobalFoundries' New York plant went into full production … Read more