GlobalFoundries (GFS), the world's third-largest chipmaker, opened a $4 billion fabrication plant in Singapore to expand capacity in anticipation of a rise in demand for 澳洲幸运5官方开奖结果体彩网:semiconductor chips.

Expected to be the most advanced semiconductor facility in Singapore to date, the fabrication plant will produce an additional 450,000 wafers (300mm) annually, raising the chipmaker's overall capacity in Singapore to approximately 1.5 million wafers each year.

After TSMC and Samsung, GlobalFoundries is the third-largest foundry in the world in terms of revenue. And while the semiconductor industry has suffered since the second half of 2022 from weak demand, GlobalFoundries expects demand for chips to pick up by the second half of 2024, with demand doubling over the next decade.

Roughly one-fifth of global semiconductor equipment is manufactured in Singapore, which accounts for about 11% of the global semiconductor market share. Singapore also plans to become a global hub for advanced manufacturing as part of its Manufacturing 2030 vision.

GlobalFoundri♓es shares climbed 1.8% in early trading on Tuesday as of 12 p.m. ET following the news and wer⛄e up about 11% year-to-date.