India, Oct. 20 -- GlobalFoundries has been selected as the technology provider and operator for two new semiconductor manufacturing facilities ("fabs") at its Malta, New York, site under a U.S.-Japan initiative providing up to $21 billion in funding.

Enabled by President Donald J. Trump's trade and investment agreement with Japan, the initiative will accelerate trusted semiconductor manufacturing in the United States, strengthen critical supply chains and support growing demand across automotive, industrial and connected infrastructure markets.

Japan will provide the investment, while GF will contribute its differentiated technologies, manufacturing expertise and proven operational capabilities as technology provider and operator.

An i...