GlobalFoundries and GM Announce Long-Term Direct Supply Agreement for U.S. Production of Semiconductor Chips

GlobalFoundries and GM Announce Long-Term Direct Supply Agreement for U.S. Production of Semiconductor ChipsBackMALTA, NEW YORK AND DETROIT — General Motors Co. (NYSE: GM) and GlobalFoundries (NASDAQ: GFS) (GF) today announced a strategic, long-term agreement establishing a dedicated capacity corridor exclusively for GM’s chip supply. This agreement supports GM’s strategy to reduce the number of unique chips needed to power increasingly complex and tech-laden vehicles. “This agreement will help to further establish New York State as a major hub for semiconductor manufacturing. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. ©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. Or its subsidiaries.