GlobalFoundries receives $375 million from U.S. for quantum chip production

GlobalFoundries has reached an agreement with the U.S. Department of Commerce to receive up to $375 million under the CHIPS Act. The funding will support the company's Quantum Technology Solutions division and the development of domestic manufacturing capabilities for quantum chips. GlobalFoundries aims to scale production from research prototypes to commercial manufacturing using cryogenic CMOS, advanced packaging, and 3D integration technologies. The five-year funding plan is contingent upon meeting specific project milestones.