It appears from the US Chips Act of the $1.5B GF received, Fab 9 in Vermont will get $125M of that and $1.375B will go to Malta. The Fab 9 site has a huge amount of work needed, the buildings are in really bad shape, some buildings just need to be bulldozed into the ground others need compete update. The fab needs money to add in GaN and update the fab overall. $125M by itself won't be close enough to do what is needed, the interesting question will be how much GF will invest into Fab 9 beyond the US Chips Bill funding??
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Time to transfer Fab9 people to Malta and write off the site. With all the attrition in Malta it could use some experienced influx from Fab9, and there's plenty of room to absorb them.
Unfortunately the plan is to keep outsourcing.
Yes as some have pointed out for a variety of different reasons; our recent “win” of getting Chips Act money is really a curse. It appears to be a good thing but really it’s poison. We will invest into these sites with that money but then be on hook for a larger percentage to finish them. It’s a Trojan horse and in the end the employees will be hurt by it.