Chipmaker GlobalFoundries says CHIPS Act framework does not involve equity

August 27 – Globalfoundries said on Wednesday, days after the US government received 10% stock in Chipmaker Intel, the US government’s financing was “good solid” and the framework did not contain any equity.

Speaking at the Deutsche Bank Technology Conference, the company’s finance chief John Hollister said that the company received government financing under the law, according to the completion of milestone.

The government’s 10% shares in Intel last week asked questions about the appearance of corporate America after US President Donald Trump plans to make similar agreements.

The government is a clear signal of the increasing participation of the Trump administration to corporate affairs, along with an unprecedented agreement with Nvidia and AMD to give 15% of the Chinese sales of some advanced chips to the government.

Intel’s agreement was structured in a way that transforms government grants under the Cips Law into equality in the company. In 2022, former President Joe Biden has been signed by the former President Joe Biden in order to increase semiconductor production and production in the country and increase China’s increasing impact.

Trump has previously tried to change some conditions of the law and said that it was not compatible with the executive orders. Each award buyer has different conditions and milestones in their agreements.

Globalfoundies’ Cips Law Framework includes the capacity to expand among manufacturing facilities.

Earlier this year, the company increased its investment plans to $ 16 billion and allocated $ 1 billion dollars to capital expenditures and 3 billion dollars to research in several chip technologies.

CFO Hollister said that on Wednesday, the investment would cover more than ten years.

This article was created from an automatic news agency feeding without changing the text.