GlobalFoundries Inaugurates $4 Billion Semiconductor Manufacturing Facility in Singapore
GlobalFoundries, ranked as the world's third-largest contract chip manufacturer, has officially launched its $4 billion semiconductor fabrication plant in Singapore, marking a pivotal step in the company's expansive global manufacturing endeavors.
This cutting-edge facility spans an impressive 23,000 square meters (equivalent to 248,000 square feet) and boasts the capability to annually produce a staggering 450,000 300-millimeter wafers once it reaches full operational capacity, a milestone anticipated to be achieved between 2025 and 2026.
In addition to this remarkable capacity, this development has contributed to the creation of 1,000 new jobs, as disclosed by Tan Yew Kong, the Singapore general manager for the company, during a press briefing.
Tan Yew Kong elaborated on the significance of this expansion, stating, "If we maximize the capacity of our Singapore campus, it could contribute up to approximately 45% of GlobalFoundries' revenue." He also expressed optimism regarding the future, anticipating a resurgence in global chip demand by the latter half of 2024.
GlobalFoundries already operates in Singapore, serving a global clientele of 200 clients. The existing facilities include two additional fabs that collectively yield 720,000 300mm wafers and 692,000 200mm wafers each year. These semiconductors play a pivotal role in various applications, including automotive technology and the deployment of 5G networks.
GlobalFoundries embarked on a substantial $6 billion global expansion initiative in 2021, initially responding to a chip shortage crisis amplified by the pandemic, which has since evolved into a surplus.
Among GlobalFoundries' high-profile clientele is Qualcomm, which recently made headlines with the announcement of a supply agreement with Apple.
Market intelligence provider TrendForce identifies GlobalFoundries as the world's third-largest foundry by revenue, trailing behind industry giants Taiwan's TSMC and South Korea's Samsung Electronics.
Singapore's semiconductor production sector, contributing a notable 11% to the global market, is poised for further growth as more chip manufacturers explore opportunities to establish or enhance their operations in the region in the months ahead.