GlobalFoundries reaches agreement with U.S. Department of Commerce to boost AI - WCAX
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MALTA, N.Y. (WCAX) - GlobalFoundries is taking a big step to boost the technology behind artificial intelligence (AI).
The chipmaker based in the region signed a new agreement with the U.S. Department of Commerce to speed up research on silicon photonics.
Silicon photonics is the light-based technology that moves data more efficiently inside AI systems and high-performance data centers.
The Commerce Department is expected to award GlobalFoundries $300 million to advance manufacturing aimed at making AI infrastructure faster and more energy-efficient.
In a separate deal, the federal government will also receive an equity stake in GlobalFoundries, about 1% of the company, so the public can share in the company’s future growth.
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