Qualcomm agreed to buy an additional $4.2 billion in semiconductor chips from GlobalFoundries’s New York factory, bringing its total commitment to $7.4 billion in purchases through 2028, according to a filing released Monday.
The announcement expands on a prior $3.2 billion purchasing agreement between the two companies and will produce chips for use in 5G transceivers, Wi-Fi, automotive and Internet of Things (IoT) connectivity.
U.S. chipmaker Qualcomm, which specializes in mobile phone chips, was one of GlobalFoundries’ first customers to sign a long-term agreement in 2021, covering multiple geographies and technologies, according to a press release published by the firms.
GlobalFoundries Chief Executive Thomas Caulfield said in a statement that having Qualcomm as a long-term customer of its upstate New York factory would help, along with federal and state funding, to expand the company’s U.S. manufacturing footprint….