DMEA Exercises $121M Option on GlobalFoundries Microelectronics Contract

GlobalFoundries (Nasdaq: GFS) will receive a potential $1.5 billion investment from the Department of Commerce through the CHIPS and Science Act to build and expand new manufacturing capabilities to produce more semiconductor chips for automotive, defense, aerospace, artificial intelligence, internet of things and other applications. The company said Monday it will use the investment to

GlobalFoundries (Nasdaq: GFS) has received a potential 10-year, $3.13 billion contract from the Defense Microelectronics Activity to provide microelectronic products and trusted processes for the Department of Defense and other federal agencies. DMEA will obligate $17.3 million in fiscal 2022 funds for the initial task order under the firm-fixed-price, indefinite-delivery/indefinite-quantity contract, DOD said Wednesday. The

Lockheed Martin (NYSE: LMT) and GlobalFoundries (Nasdaq: GFS) have partnered with the intent to advance chip technological innovation and strengthen the resiliency and security of U.S. semiconductor supply chains for mission-critical security systems. GF and Lockheed will identify critical needs in secure chip manufacturing and innovation across several areas, including gallium nitride on silicon to