Trump says GlobalFoundries will build $21bn chip plants in Malta, New York
Trump says Japan will fund the project and credits it to his trade deals, as the government takes a stake in the chipmaker worth over $2 billion
Published
President Trump said on Truth Social that GlobalFoundries and the Department of Commerce have agreed to a $21 billion investment to build two semiconductor manufacturing facilities in Malta, New York. Trump said the project would create 27,000 construction and supply chain jobs and more than 1,000 manufacturing jobs.
Trump said Japan will provide the capital for the investment and described the deal as a result of his trade agreements.
Trump also said the government will take shares in GlobalFoundries as part of a separate agreement. The Commerce Department will put $955 million into silicon photonics, silicon germanium and advanced packaging work, he said, bringing total government investment in the company to $1.63 billion. Trump put the value of the government's resulting stake at more than $2 billion.
The arrangement follows a pattern of the government taking equity in strategic manufacturers, a trend flagged earlier this month, but this is the first such case paired with a specific dollar figure, named foreign financing and a stated stake value. The Japanese funding also lines up with Japan's push, under Prime Minister Takaichi, to highlight Japanese investment in the US ahead of talks with Trump, suggesting allied capital is becoming the preferred way to ease tariff tensions rather than a one-off gesture. For investors watching the onshoring theme, a government stake with an explicit valuation attached makes the policy more concrete than earlier announcements that lacked any mechanism for how the equity would work.