Globalfoundries to invest 1.1 billion euros in Dresden factory expansion

Published 04/06/2025, 11:36
© Reuters.

Investing.com -- The US-based chip manufacturer, Globalfoundries (NASDAQ:GFS), has plans to expand its factory in Dresden, according to a Wednesday report by Handelsblatt. The company is set to invest 1.1 billion euros in the capital of the Saxon state in the forthcoming years.

The German federal government is anticipated to back this expansion project. The support is likely to come in the form of several hundred million euros. The precise amount of the funding has not been confirmed yet, and the final commitment is still under consideration.

 

Germany’s Dresden region is sometimes referred to as the "Silicon Saxony" due to being home to a large number of chip factories.  

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