By Denny Jacob

Lockheed Martin and GlobalFoundries on Monday said they would collaborate to advance domestic semiconductor manufacturing.

The defense company said its collaboration with GlobalFoundries will secure manufacturing across a range of advanced and next-generation chip technologies. The companies also will work to develop a chiplet ecosystem to produce more chips rapidly and affordably.

The collaboration is one of the latest for GlobalFoundries. In February, the chip maker established a long-term agreement to supply semiconductors for automotive company General Motors.

The partnership between Lockheed and GlobalFoundries comes as the U.S. has bolstered funding for chip production, namely through the $53 billion Chips Act.

The Chips Act was approved by Congress and signed by President Biden last year as chip shortages exacerbated by the pandemic and supply-chain snags hobbled auto makers, appliance makers and other manufacturers reliant on semiconductors. Lawmakers also were spurred by increasing tensions with China, which is investing heavily in its semiconductor industry and its military.

The program includes manufacturing incentives totaling $39 billion to be given to companies to help invest in domestic semiconductor manufacturing. More than $13 billion will fund research and development, as well as workforce advancement.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

June 12, 2023 13:06 ET (17:06 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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