Trump Announces $21 Billion GlobalFoundries Investment in New York Chip Plants, U.S. Equity Stake
President Trump said GlobalFoundries will build two semiconductor facilities in New York with $21 billion in investment, while the Commerce Department secures an equity position for American taxpayers.
Tommy Flynn
President Donald Trump announced on Truth Social Wednesday that GlobalFoundries and the Department of Commerce will invest $21 billion to build two large semiconductor manufacturing facilities in Malta, New York. Japan will provide the capital as part of trade and investment agreements.
Trump said the project would create 27,000 construction and supply-chain jobs plus more than 1,000 highly skilled manufacturing positions. He credited historic trade deals with Japan, Korea, and Taiwan for turning investment commitments into domestic production.
In an additional agreement, the U.S. taxpayer will receive shares in GlobalFoundries. The Commerce Department, led by Secretary Howard Lutnick, will invest $955 million in silicon photonics, silicon germanium, and advanced packaging. Total related investments reach $1.63 billion, and the government’s stake is now worth over $2 billion, according to the announcement.
Trump framed the deals as transformational for national and economic security, expanding domestic semiconductor capacity and generating returns for taxpayers rather than pure grants. The announcement follows other major energy and manufacturing commitments highlighted during recent Alaska travel.
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