GlobalFoundries and STMicroelectronics to Announce French Factory Plans

GlobalFoundries and STMicroelectronics, the world's third-biggest chip foundries, will announce plans on Monday to invest nearly 4 billion euros in a semiconductor factory in France, part of Europe's efforts to increase its independence in the microchip space, according to reports. . This will help support an effort by the European Commission to produce 20 percent of the world's microchips in Europe by 2030. The investment is expected to be announced Monday at French President Emmanuel Macron's fifth "Choose France" summit in Versailles.