GlobalFoundries CFO reveals $16B CHIPS Act strategy - without selling equity to government
Key Points
- GlobalFoundries opts for full control by taking government f...
While Intel just handed Uncle Sam a 10% slice of their company pie, GlobalFoundries is taking a different approach to the $53 billion CHIPS Act buffet. Their CFO John Hollister made it crystal clear on Wednesday: they're keeping 100% of their equity, thank you very much.
Think of it this way - Intel took the government money and said "here, have a seat at our board meetings." GlobalFoundries took the money and said "thanks for the cash, we'll send you a postcard from our new factories."
The Art of Taking Money Without Strings Attached
GlobalFoundries has committed to spending $16 billion...
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