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Chip manufacturer GlobalFoundries said on Wednesday it planned to increase its investment plans to $16 billion, allocating an additional $1 billion to capital spending and $3 billion to research in several emerging chip technologies.
The Malta, New York-based company said it is working with the Trump administration to bring chip manufacturing technology and various components of that supply chain onto US soil.
The chip manufacturer attributed the expansion to the boom in artificial intelligence hardware, a trend that has also benefited other…
