LMT - Lockheed Martin teams with GlobalFoundries on chip supply
2023-06-12 15:19:56 ET
Lockheed Martin ( NYSE: LMT ) and chipmaker GlobalFoundries ( NASDAQ: GFS ) on Monday said they are working together to secure semiconductor supply for national security systems.
The collaboration covers the manufacturing of advanced and next-generation chips, and will apply GlobalFoundries' ( GFS ) technology to increase anti-fragility in microelectronics systems and supply chains.
The announcement comes as defense contractors seek to overcome supply-chain impediments that reduce potential output. The Covid-19 pandemic exposed weaknesses in the global network of chip suppliers.
The collaboration supports the U.S. government's CHIPS and Science Act, whose goal is to boost domestic chipmaking, the statement said. Lockheed Martin ( LMT ) and GlobalFoundries ( GFS ) will also pursue external funding opportunities, technology development and collaboration with the U.S. government.
The companies also plan to work on a chiplet ecosystem, which stacks and stitches multiple chips together for rapid and affordable production, they announced.
GlobalFoundries' ( GFS ) factories in New York and Vermont have U.S. government accreditation and are authorized to produce secure chips for sensitive mission systems.
More about chip supplies
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- GlobalFoundries secures $117M deal from Dept of Defense for semiconductor supply
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Lockheed Martin teams with GlobalFoundries on chip supply