WASHINGTON, July 29 -- Sen. Peter Welch issued the following press release:
Today, U.S. Senator Peter Welch (D-Vt.) celebrated the announcement of $300 million in new federal funding for Vermont's GlobalFoundries. This federal investment, funded through the Biden Administration's bipartisan CHIPS and Science Act and administered by the Department of Commerce, will support GlobalFoundries' research and development of next-generation silicon photonics wafer technologies, which have the potential to substantially increase the energy efficiency of AI and other critical technology infrastructure projects.
"GlobalFoundries is a global leader in semiconductor manufacturing, and I'm glad Vermont will benefit from this $300 million federal invest...