SINGAPORE: GlobalFoundries, the third-largest contract chipmaker in the world, opened a$ 4 billion manufacturing facility in Singapore on Tuesday( Sept 12 ) as part of an international expansion to ease an industry supply shortage.
The semiconductor industry is recovering from the pandemic’s disruptions, higher prices, and slow global economic growth, which were partly brought on by political tensions.
Tan Yew Kong, the general manager of the United States company in Singapore, told reporters that the service will make an extra 450, 000 wafers periodically at full capability by 2025 to 2026, bringing the city-state’s total capacity to 1.5 million per year.
The demand for the cards, which are typically found in phones and other wireless devices, is rising among automakers, particularly for electric vehicles, adding pressure to increase production.
A device shortage was exacerbated by price increases and an economic downturn as a result of the pandemic’s blackouts.
But, experts in the field and experts predict a desire healing is on the horizon.
At the start, GlobalFoundries president and CEO Thomas Caulfield stated that” digitalization, communication, and cloud technology are all driving momentum to a more connected and data-centric world.”
It” shows how essential and key the business is to the global market and how ubiquitous electronics are in enabling and enhancing all facets of human life.”
Caulfield predicted that the economy would increase within the next ten years, despite the current economic headwinds.
AI( artificial knowledge ) will be the catalyst for this progress, he declared.
The firm, which already has vegetation in the US and Europe, may expand its global footprint with the help of its 23, 000 square meter hospital in Singapore that opened for business in 2021.
Now, 11 percent of the world semiconductor market is made up of chip production in Singapore.
According to estimates from business observe World Semiconductor Trade Statistics, the global semiconductor market is expected to experience a decline of 10.3 % this season but return in 2024 and develop 11.8 percent.