Japan to fund $21B deal to expand chip production in New York
Summary
Japan is investing $20 billion to support building two new semiconductor chip factories in upstate New York. President Donald Trump announced that Japan will provide $10 billion for a GlobalFoundries plant expected to start working by 2029 and another $10 billion for a second chip plant.Key Facts
- Japan is funding $20 billion for two chip factories in New York.
- One plant is from GlobalFoundries, planning to open by 2029.
- The funding aims to speed up construction of these plants.
- President Donald Trump announced the deal on Wednesday.
- The investment comes amid global efforts to increase chip production.
- Semiconductor fabrication means making computer chips.
- This is a joint effort between Japan and U.S. companies.
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