The JV was intended to produce 300mm wafers, a key material in making chips, but production never started at the 65,000 square metre facility. Photo: AFP
The JV was intended to produce 300mm wafers, a key material in making chips, but production never started at the 65,000 square metre facility. Photo: AFP

Why this chip maker’s New York IPO has left a bad taste in the mouth for Chengdu’s local government

  • The US-based chip maker set aside a provision of US$34 million in June to settle the potential compensation
  • GlobalFoundries said in its prospectus that the Chengdu factory halted operations due to ‘a variety of factors, including unanticipated market conditions’

Topic |   Semiconductors
The JV was intended to produce 300mm wafers, a key material in making chips, but production never started at the 65,000 square metre facility. Photo: AFP
The JV was intended to produce 300mm wafers, a key material in making chips, but production never started at the 65,000 square metre facility. Photo: AFP
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