Globalfoundries Aims for 30% of Chip-Foundry Market in 3 Years

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Globalfoundries Inc., the chipmaker that merged with Chartered Semiconductor Manufacturing Ltd., aims to account for 30 percent of the made-to-order chip market within three years, its largest investor said.

“Am I setting very aggressive targets? Yes,” Ibrahim Ajami, chief executive officer of Advanced Technology Investment Co., Globalfoundries’ controlling shareholder, said in a Jan. 28 interview in Abu Dhabi. “We need to be a $5 billion company in the next two to three years.”

Globalfoundries was created after Advanced Micro Devices Inc. spun off its manufacturing unit, and boosted its capacity through ATIC’s purchase last year of Singapore-based Chartered. A 30 percent share would take Globalfoundries past United Microelectronics Corp., making it the world’s second-largest contract manufacturer of chips after Taiwan Semiconductor Manufacturing Co.