JAPAN WILL INVEST UP TO $21 BILLION IN TWO US CHIP FACTORIES TO BE RUN BY GLOBALFOUNDRIES

Japan will invest up to $21 billion in two chip factories in New York state that will be jointly ​owned by the US government and Japanese interests and operated by GlobalFoundries, the company ‌said on Wednesday.

Shares of the Malta, New York-based company rose more than 4% in early trading. They have gained more than 33% this year. The move is part of a deal for Japan to invest $550 billion in the US struck ​by President Donald Trump's administration last year in return for the US lowering tariffs on Japanese cars ​and other imports from at least 25% to 15%.

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