IT Home News Sept. 30 According to the Wall Street Journal, Tom Caulfield, CEO of GlobalFoundries, the world's second largest pure wafer factory, told the newspaper that its Fab 8 Semiconductor Wafer Factory in Malta, New York, has 3,000 employees and is planning to make its first operation in 2022. The way of public offering is to sell minority shares of the company to achieve listing.
GlobalFoundries was underwritten by Abu Dhabi sovereign wealth fund Mubadara in 2009, spun off from AMD, and then AMD continued to reduce holdings until it had nothing to do with GlobalFoundries. At present, GlobalFoundries is already a private enterprise.
Earlier, the only global Foundries manufacturing plant was a former AMD factory in Germany, and the Fab 8 wafer factory in question was built with investment from Abu Dhabi and about $1.4 billion from New York State. In a subsequent deal, Global Foundries acquired IBM's chip factories outside East Fishkill, New York, and Burlington, Vermont, as well as Singapore's licensed semiconductor manufacturing plants.
But Caulfield, a former IBM executive who served as general manager of Fab 8 before becoming CEO of Global Foundries, has been cutting costs and selling assets for the past year, a series of initiatives that have eased the pressure on Global Foundries to invest in next-generation chip research and made the company profitable for the first time. Many people see Caulfield's approach as a preparation for listing, and now Caulfield has finally confirmed that.
At the same time, some analysts argue that listing is also a must for Global Foundries, because Abu Dhabi is likely to have stopped financing Global Foundries, and Caulfield has to keep the company afloat.