Thndr Claps » U.S. Claps » Tech 📲 » Qualcomm is spending big on chips 💻
The ClapQualcomm (NASDAQ: QCOM) will invest $4.2 billion in chips from GlobalFoundries (NASDAQ: GFS).The DeetsThis investment will bring the total commitment up to $7.4 billion in purchases until 2028. The chips will be used to produce 5G transceivers, Wi-Fi, automotive, and IoT connectivity.For GlobalFoundries, having Qualcomm as a long-term customer will help them expand and increase manufacturing.Why this MattersThe US Senate is set to subsidize the domestic semiconductor industry, providing $52 billion in subsidies.Intel and GlobalFoundries agreed to an expansion plan in order to benefit from the subsidies.
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