According to Nikkei Asia, GLOBALFOUNDRIES CEO Tom Caulfield said the company will decide by the end of this year to further increase production capacity at one of its sites in Singapore, New York or Germany as the global semiconductor shortage has not eased.

The report noted that GF has been investing heavily over the past few years to increase capacity at all three of its manufacturing locations. Caulfield said the company would continue to ramp up capacity to meet demand over the next five to 10 years, stressing its willingness to make additional investments in any of its three existing production sites.

Prior to this, GF has announced an investment of US$4 billion in Singapore and is currently building a new factory with a 23,000-square-meter cleanroom. In addition, the company announced that it will expand the capacity of its production sites in the United States and Germany.

"Our investments now will allow GF to add capacity by the end of 2024. But for continued growth, we will have to start building new factories in a planned way. By the end of this year, we will decide where to add capacity," Caulfield said.