Overview
- The Project SPRINT plan will scale GlobalFoundries’ Dresden site to more than one million wafers per year by the end of 2028, positioning it as the largest site of its kind in Europe.
- The company expects support from Germany’s federal government and the State of Saxony, with formal European Commission signoff anticipated later this year.
- Upgrades will establish end-to-end European processes and data flows to meet security requirements, focusing on low-power chips, embedded secure memory and wireless connectivity for automotive, IoT, defense and critical infrastructure.
- Chancellor Friedrich Merz and Saxony Minister President Michael Kretschmer welcomed the investment as a boost to European semiconductor sovereignty, as industry partners including Infineon, NXP, Bosch and Siemens endorsed the move.
- On the same day, CFO John Hollister resigned for personal reasons and Senior Vice President Sam Franklin was named interim CFO.