Globalfoundries will double its capital spending this year to $5.4 billion (Dh19.83bn) as it makes a strong push to become the world's top microchip foundry.
The company is controlled by Advanced Technology Investment Company (ATIC), an investment firm owned by the Abu Dhabi Government, that holds an 86 per cent stake in the firm. AMD, the chipmaker's former owner, holds the remaining stake in Globalfoundries.
Globalfoundries manufacturers silicon wafers which are later cut out to build microchips that will be installed in a variety of consumers electronic goods such as smartphones, desktop computers and laptops.
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