Plans between AMD and investment company ATIC have finally come to fruition, with the placeholder The Foundry Company separating from AMD as GlobalFoundries.
The company is headed up by CEO Doug Grose, formerly AMD's senior vice president of manufacturing operations and Chairman of the Board Hector Ruiz, ex-AMD executive chairman and chairman of the board. Headquartered in Silicon Valley, GlobalFoundries cites itself as the only US-based semiconductor foundry operating globally, also claiming a 2,800-strong worldwide workforce.
As well as taking care of AMD's manufacturing needs, GlobalFoundries will also be offering its services to third parties looking for alternatives to the likes of TSMC. The company plans to expand its manufacturing plant in Dresden (pictured) increasing production capacity and will begin construction on another fab in New York, creating around 1,400 jobs as well as the only independently-managed advanced semiconductor manufacturing foundry in the country - apparently - at a cost of $4.2 billion.