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Japan to invest $21 billion in US chip production facilities
Japan is committing up to $21 billion toward two semiconductor manufacturing plants in New York, which will be operated by GlobalFoundries and are partially owned by the US government and Japanese entities. This funding is part of a larger accord where Japan will increase its investment in the US by $550 billion in exchange for reduced tariffs on its exports. GlobalFoundries' CEO, Tim Breen, indicated that Renesas Electronics and Apple are among the initial clients for these new plants.
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