ABU DHABI (Reuters) - Abu Dhabi’s Advanced Technology Investment Company (ATIC) plans to invest up to $10 billion over the next two years in GlobalFoundries’ New York semiconductor factory, its CEO said on Friday.
ATIC owns unlisted GlobalFoundries, which has chip manufacturing facilities in New York, Singapore and Germany. ATIC is controlled by Abu Dhabi state investment fund Mubadala.
“We have received commitments from Mubadala for an additional $9-10 billion for expansion of our facility in New York,” ATIC Chief Executive Ibrahim Ajami told Reuters by telephone.
Reporting by Stanley Carvalho; editing by David French and Tom Pfeiffer