GlobalFoundries has criticised subsidies that Berlin is preparing to offer the US chipmaker’s bigger Taiwanese rival TSMC for a planned plant in the east German city of Dresden. Thomas Caulfield, GlobalFoundries’ chief executive, told the Financial Times that the company welcomed competition “on a level playing field” but warned these funds to TSMC will distort competition. “However, if a subsidy benefits one dominant player disproportionately, there is a real risk of dependence on a single supplier, market foreclosure and less resilient supply chains as a consequence,” Caulfield said.
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LOL. I wouldn’t be surprised if we spin it that way. It’s how GF always spins almost everything and it’s cringey. This post reminds me of an older hilarious post where it was stated that, “you have lost to high ground when they start talking about your (TC) buttcheeks.” In reference to TC angling hard for the CHIPS act money in the early stages of it and posters saying he gave it up and bent over so schumer could violate him. Double LOL. I have to go back and find that post.
No hope left for GF. Tommy need beg with bigger bowl in hand.
Tommy is fully responsible why GF is close to bankruptcy. It was great opportunity to sell GF to bigger and better players in industry. Mubadala was made to believe that GF will be better alone with Tommy and his rejected and junk leaders. We are suffering due to someone’s greed.
To set an example, Globalfoundries will be declining any funds from CHIPS Act.
We should be aoutsourcing the jobs of Tommy boy, and his highly paid , highly incompetent senior leadership team to somewhere very low cost. I suggest the chimp cage in San Diego zoo
Germany is investing in a company with growth potential and a real technology roadmap unlike GF. Investment in AMD to build in Dresden was a big boost to the former East German region seeking high value jobs and global connections. However, today, any further investments in GF in Dresden are to keep it limping along without any significant growth potential. GF has slipped to 4th in foundry rankings and SMIC is a close 5th.
Go cry in your bowl of fruit loops, Tom, and fill the fabs you already have. The comment from the German spokesperson really sounded like they were trying to placate a whiny toddler.
"Not to worry. We’ll all be outsourced soon anyway."
I think that we might be outsourcing the wrongs folks.
We should be outsourcing the complacent unskilled folks like bankers, investors, bad teachers, "professors", and most bureaucrats. You know the ones that aren't terribly skilled, have a permanent job for life, and seem to be extra-ordinarily wealthy.
Not to worry. We’ll all be outsourced soon anyway.
The German government actually claps back at TC with;
The German government spokesperson noted that GlobalFoundries was receiving government subsidies under the auspices of a scheme called Important Projects Of Common European Interest. IPCEI permits EU member states to join forces to back big innovative projects without flouting the bloc’s state aid rules.
GlobalFoundries received about €400mn under the first round of IPCEI grants and is waiting for an update on further funding.
“GlobalFoundries is one of the companies that is being supported under the [IPCEI] framework and will be in future, too,” the spokesperson said.
Source: https://www.ft.com/content/592a3227-8bf3-4270-9833-ea4e3f194498
What an absolute dummy.
I think our leadership’s bigger fear is a mass exodus from Fab 1 to the new TSMC Dresden site. Tons of the best talent will head over their for greener pastures.
GF is woke joke while TSMC is not.
Germany overlooking Globalfoundries, and instead giving money to its superior competitors, makes my heart happy. Germany knows that any further investment in GF Dresden is a bad choice. Also, it’s nice to see that GF’s fab loading continues to plummet. Life is good. F’ GF
Yet another example of how bad our leadership is doing actual business and understanding the actual business environment.
It was easy when we were still a private company. You can do whatever shenanigans you wanted and any little positive results can be attributed and spun to your “legendary” vision, leadership and guidance. But once you get public with IPO the training wheels are off and safety net is gone! We are now on the public main stage with spotlight on us. And it exposes the fakes and inept business acumen our leadership was shielded for so long as a private organization.
Tommy boy is clearly high on something bad to consider the company being run to ground by himself and this bunch of incompetent rejects as a competition to the mighty TSMC!