GlobalFoundries weighs in on Trump administration proposals to support domestic chip manufacturing

GlobalFoundries Executive Chairman Tom Caulfield recently joined CNBC Money Movers for an exclusive interview, and talked about how economic tools can help create demand for U.S. made chips and bring home more manufacturing capacity.  

“If you believe — and I don’t know anyone who doesn’t — that for national security, supply chain, and economic security, that we ought to be doing more semiconductor manufacturing in the U.S., then these are the tools you need to go make that happen,” explained Caulfield.

He added that proposals under consideration by President Trump and Commerce Secretary Lutnickare about lifting and shifting demand to fill capacity: “There’s no sense building capacity if the demand is not here, and this administration – with Secretary Lutnick and President Trump – are trying to use economic tools to drive demand here as well.”

Caulfield also emphasized that GlobalFoundries is ready to continue to build out its scale and manufacture in the U.S. “We’ve talked about a $16 billion capital expansion through leveraging the CHIPS funding and the investment tax credit, and the rate and pace of that is not dependent on GF being able to deploy the capital or create. It’s really about securing the commitment and the desire of our customers to want to bring more of that supply that we make for them back home.”