ATIC to invest USD10b in GlobalFoundries

(MENAFN) Abu Dhabi-based Advanced Technology Investment Company (ATIC) is to invest up to USD10 billion over the next two years in GlobalFoundries' New York semiconductor factory, Arabiab Business reported. ATIC owns unlisted GlobalFoundries, after a buy-out of joint venture partner Advanced Micro Devices last year. ATIC is controlled by Abu Dhabi state investment fund Mubadala. ATIC chief executive said: "We have received commitments from Mubadala for an additional $9-10 billion for expansion of our facility in New York."