GloFo expands its business
GlobalFoundries (GloFo) is planning to expand production and increase its spending this year.
The foundry will spend $4.4 billion this year, up from $3.8 billion in 2012.
The cash will come from internal sources, as well as Mubadala, Globalfoundries’ sugar daddy. The company will continue to expand in all three of its current manufacturing locations – Germany, Singapore and the US, Bloomberg reports.
It is hoped that Globalfoundries will continue its lucky streak and stay in the black this year.
Some analysts already believe that Globalfoundries might become the largest revenue contributor to Mubadala in coming years. The company sold $4 billion worth of wafers last year.