General Motors signs deal with GlobalFoundries for exclusive U.S. semiconductor production
Publishing timestamp: 2023-02-09 12:16:34
Summary
GM has signed a long-term agreement with GlobalFoundries to establish exclusive production capacity of U.S.-produced semiconductor chips. The deal is a win for the Biden administration, which has been pushing for companies to reestablish American production of semiconductor chips. The exclusive production of chips for GM will be an expansion of GlobalFoundries' operations and is expected to take two to three years to ramp up.
Sentiment: POSITIVE
Keywords: new york, business, technology, globalfoundries inc, politics, autos, breaking news: business, general motors co, transportation, business news,
Source: https://www.cnbc.com/2023/02/09/general-motors-globalfoundries-strike-semiconductor-deal.html