Update: GlobalFoundries Picked to Run Plants in $21 Billion US-Japan Deal

02:42 PM EDT, 10/14/2026 (MT Newswires) -- (Updates with the latest stock movement in the last paragraph.) GlobalFoundries (GFS) was selected as the technology provider and operator for two new semiconductor manufacturing facilities at its site in upstate New York under a US-Japan initiative providing $21 billion in funding, the company said Wednesday. Japan will provide the investment, including roughly $10 billion initially to expedite construction of a 300mm semiconductor lab, which is expected to go online in 2029, the company said. An additional investment of about $10 billion would go toward construction of a second lab, it said. In its role, GlobalFoundries said it will provide its "differentiated technologies," manufacturing know-how and operational capabilities. Shares of the company were up 4% in Wednesday trading. Price: 48.59, Change: +1.89, Percent Change: +4.05