MALTA, N.Y. (NEWS10) -- GlobalFoundries will be investing $16 billion to expand its chip manufacturing operations throughout its New York and Vermont facilities, the company announced on Wednesday. The investment comes as technology companies move to boost the domestic semiconductor manufacturing industry.

GlobalFoundries will reportedly support the semiconductor production and advanced packaging of companies like Apple, SpaceX, General Motors, Qualcomm Technologies, Inc. and more. The tech industry is aiming to onshore components of its supply chain due to the rapid rise of artificial intelligence, which has increased demand for more advanced semiconductors, GlobalFoundries said.

"At GlobalFoundries, we are proud to partner with pioneering technology leaders to manufacture their chips i

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