Abu Dhabi's ATIC to invest up to $10 billion in U.S. chip plant | Reuters

Abu Dhabi's ATIC to invest up to $10 billion in U.S. chip plant | Reuters:

"Abu Dhabi's Advanced Technology Investment Company (ATIC) plans to invest up to $10 billion over the next two years in GlobalFoundries' New York semiconductor factory, its chief executive said on Friday.

ATIC owns unlisted GlobalFoundries, having completed a buy-out of joint venture partner Advanced Micro Devices in March 2012. ATIC is controlled by Abu Dhabi state investment fund Mubadala.

"We have received commitments from Mubadala for an additional $9-10 billion for expansion of our facility in New York," ATIC Chief Executive Ibrahim Ajami told Reuters.

ATIC also plans to invest in GlobalFoundries' chip manufacturing facilities in Germany and Singapore, Ajami said without elaborating."

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