GlobalFoundries signs letter of intent with US Commerce Department for up to $375M in CHIPS R&D funding

GlobalFoundries just locked in another massive check from Uncle Sam. The chipmaker signed a letter of intent with the US Department of Commerce for funding of up to $375 million under the CHIPS and Science Act, this time aimed squarely at quantum technology and silicon photonics. The deal will fund the creation of what GF is calling Quantum Technology Solutions, a platform dedicated to scaling domestic manufacturing of quantum processor units and the components that make them tick. What the deal actually looks like The funding covers development across multiple qubit technologies, including silicon photonics, superconducting, and trapped ion approaches. Here’s the interesting wrinkle: the Commerce Department plans to take a strategic minority equity stake of roughly 1% in GlobalFoundries as part of the arrangement. This isn’t GF’s first trip to the CHIPS Act well, either. The company already secured up to $1.5 billion in CHIPS awards back in 2024, funding that went toward expanding production capabilities at its fabrication facilities in New York and Vermont. GF has spent roughly a decade investing in silicon photonics technology, which uses light instead of electrical signals to t...