GlobalFoundries Inc. (GFS), Wednesday announced its plans to invest $16 billion to advance its semiconductor manufacturing and advanced packaging capabilities across its facilities in New York and Vermont.
To expand growth in artificial intelligence, the company is collaborating with major companies, such as Apple, SpaceX, AMD, Qualcomm Technologies, Inc., NXP and GM.
The announcement is a part of the company's existing U.S. expansion plans, which includes more than $13 billion to expand and modernize its New York and Vermont facilities and funding for its recently launched New York Advanced Packaging and Photonics Center.
In the pre-market hours, GFS is trading at $37.01, up 0.37 percent on the Nasdaq.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.