US-based semiconductor manufacturer GlobalFoundries, owned by Abu Dhabi’s Mubadala Investment Company, has announced plans to invest US$16 billion to expand semiconductor manufacturing and advanced packaging in the states of New York and Vermont, according to The National.
According to a news release from the UAE-backed company, it is collaborating with Apple, SpaceX, AMD, Qualcomm, NXP and General Motors on the project.
Mubadala Investment Company PJSC, or simply Mubadala, is a state-owned global investment firm that acts as one of the sovereign wealth funds of the government of Abu Dhabi. The company was established in 2017 when then-named Mubadala Development Company and the International Petroleum Investment Company merged.
Mubadala Investment Company and Apple have a relationship centered around investments in the technology sector, specifically in areas related to manufacturing and innovation.
Key aspects of their relationship:
° GlobalFoundries and Apple’s Supply Chain: Mubadala owns GlobalFoundries. Apple collaborates with GlobalFoundries to produce US-made chips, demonstrating the importance of this relationship for securing Apple’s supply chain.
° SoftBank Vision Fund: Apple was an initial investor, alongside Mubadala and others, in the Softbank Vision Fund, a major technology and innovation fund.
° Advanced Manufacturing Fund: Apple established a $5 billion fund in 2017 to support advanced manufacturing in the US. ° UAE Retail Presence: Mubadala played a role in facilitating the opening of a new Apple Store in Abu Dhabi’s Al Maryah Island, a premier business and lifestyle destination.
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