GlobalFoundries said to invest $8B in German chip plant, double capacity
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GlobalFoundries (NASDAQ:GFS) is reportedly going to invest $8B in its German chipmaking plant in an effort to double production by the end of the decade.
The foundry, which competes with Taiwan Semiconductor (TSM) and Samsung (OTCPK:SSNLF), is looking to invest further in its plant in Dresden, Germany, CEO Thomas Caulfield told German news outlet Handelsblatt.

Additionally, the company is looking for the type of government support that Taiwan Semiconductor (TSM) is seeking for its proposed plant in Dresden. Last month, Taiwan Semi's board of directors met to discuss the plant, which would receive roughly $5.5B in support from the Germany government.
GlobalFoundries (GFS) did not immediately respond to a request for comment from Seeking Alpha.
GlobalFoundries (GFS) shares rose fractionally in early trading on Thursday.


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