Monday 28 December 2009

Globalfoundries sees growth path

Globalfoundries aims to double its revenue and market share within the next three years by tapping into the booming markets for smartphones and graphic chips.

The maker of customised computer chips was created in March though a joint venture of the Advanced Technology Investment Company (ATIC), an investment firm fully owned by the Abu Dhabi Government, and Advanced Micro Devices of the US.

Since then, Globalfoundries has increased its investment in the sector with the acquisition of Singapore’s Chartered Semiconductor for S$5.6 billion (Dh14.61bn). It has also broken ground for a foundry in New York state, which will add capacity to its operations in Germany.

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