GlobalFoundries Plans $4.4 Billion Spending as Chip Demand Rises
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GlobalFoundries Inc., the contract chip manufacturer whose clients include Advanced Micro Devices Inc. and Qualcomm Inc., plans to spend $4.4 billion this year to expand production as demand for smartphones and tablets climbs.
“We continue to expand in all three of our manufacturing locations -- Germany, Singapore and the U.S.,” Kevin Kimball, a spokesman at the Silicon Valley-based chipmaker, said by e-mail on April 15. The spending compares with $3.8 billion last year and will be met by internally generated cash and funding from Abu Dhabi-based parent, Mubadala Development Co., he said.