SCHUMER APPLAUDS $300 MILLION FEDERAL CHIPS AWARD FOR GLOBALFOUNDRIES FROM HIS CHIPS & SCIENCE LAW TO BOOST DOMESTIC SILICON PHOTONICS RESEARCH & DEVELOPMENT

WASHINGTON, July 29 -- Sen. Chuck Schumer issued the following press release:

U.S. Senator Chuck Schumer today announced that GlobalFoundries is receiving a letter of intent from the U.S. Department of Commerce to award up to $300 million in federal funding from Schumer's CHIPS & Science Law for accelerating domestic silicon photonics research and development to support artificial intelligence (AI) infrastructure.

"GlobalFoundries is powering the future of AI right here in the Capital Region. The silicon photonics that GlobalFoundries will develop in the Capital Region will help ensure AI and high-performance computing systems stay at the cutting-edge, which is critical to American competitiveness and national security," said Senator Schu...