GlobalFoundries investor Mubadala sees growth for semiconductor sector video

GlobalFoundries investor Mubadala sees growth for semiconductor sector

The semiconductor industry is on track to record exponential growth over the next decade, according to the CEO of Abu Dhabi sovereign wealth fund Mubadala, who said chipmakers are poised to play a “crucial” role in the global economy.

“It took 50 years for the semiconductor business to turn into a half a trillion-dollar business. It’s going to take probably eight to 10 years to double. And it’s going to double right after that, probably in four to five years,” Khaldoon Al Mubarak told CNBC’s Hadley Gamble in an exclusive interview.

Mubadala is Abu Dhabi’s state investment fund and manages roughly $240 billion in assets. It is also a major shareholder of chipmaker GlobalFoundries, recently raising almost $2.6 billion in an initial public offering — one of the largest on a U.S. exchange this year.