Chipmaker GlobalFoundries plans US$6bil expansion in Singapore, US, Germany

SINGAPORE: Chipmaker GlobalFoundries said on Tuesday it will spend $6 billion to expand capacity at its factories in Singapore, Germany and the United States amid a chip shortage that is hurting automakers and electronics firms globally.

The U.S.-based company, owned by Abu Dhabi's state-owned fund Mubadala, said it will invest more than $4 billion in Singapore, and $1 billion each in the others over the next two years. The unlisted company's Singapore operations contribute about a third of its revenue.