Press Release

WASHINGTON, D.C. — Today, U.S. Senator Peter Welch (D-Vt.) celebrated the announcement of $300 million in new federal funding for Vermont’s GlobalFoundries. This federal investment, funded through the Biden Administration’s bipartisan CHIPS and Science Act and administered by the Department of Commerce, will support GlobalFoundries’ research and development of next-generation silicon photonics wafer technologies, which have the potential to substantially increase the energy efficiency of AI and other critical technology infrastructure projects. “GlobalFoundries is a global leader in semiconductor manufacturing, and I’m glad Vermont will benefit from this $300 million federal investment to help power America’s AI boom in a more energy-efficient way, reducing its impact on ratepayers and the environment,” said Senator Welch . “This funding will help create jobs and support American innovation. I will continue to support collaborative workforce development opportunities that help boost our state’s research and manufacturing economy.” Senator Welch helped pass the CHIPS and Science Act in 2022 as a Member of the House of Representatives. Learn more about Senator Welch’s work by visiting his website or by following him on social media . ###