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GlobalFoundries' NY chip plant to get up to $10B boost

ATIC says it will invest the money over the next to years, which will aid the factory's expansion to produce 20- and 14-nanometer nodes.

An aerial view of GlobalFoundries' Fab 8 factory in Malta, N.Y. GlobalFoundries

Abu Dhabi-based Advanced Technology Investment Company plans to drop $10 billion into GlobalFoundries' semiconductor factory in New York, the company has confirmed.

Speaking to Reuters in an interview published on Friday, ATIC CEO Ibrahim Ajami said that the $10 billion investment will be made over a period of two years. The funds will be used to expand the chipmaker's factory and allow for the production of 20- and 14-nanometer nodes. Producing chips with these smaller nodes will allow device makers to build yet smaller products -- like thinner phones and tablets.

GlobalFoundries' New York plant went into full production in Malta, N.Y., in 2012. According to Reuters, the plant can produce 60,000 chip wafers per month. GlobalFoundries has alsoreportedly been in talks to make chips for Apple as the iPhone maker looks to expand its chip partners and decrease its dependency on Samsung.

The area is a high-growth segment of the industry as more companies pass off chip production to companies like GlobalFoundries. Ajami told Reuters that companies in non-traditional markets, like automobiles, are looking to firms like GlobalFoundries for chips, which should help the plant see increased growth.