What happened
Japan will put up to $21bn into two new chip factories at GlobalFoundries' (GF) site in Malta, New York. The deal was announced on 14 October.
Who runs the plants?
GlobalFoundries will own and operate both facilities and also serve as technology provider. In other words, the funding comes from Japan while day-to-day operations stay with GF.
Why it matters
GF CEO Tim Breen told Bloomberg that "right now, the whole industry is in short supply." Chip production capacity is a bottleneck across areas from AI to automotive, and the new fabs aim to add capacity.
Where the money comes from
According to the source, the funding comes from Japan's relevant programmes. The exact total and timeline were not detailed in the report.
