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Ford, GlobalFoundries form pact to address chip shortage

GlobalFoundries Inc. (Nasdaq: GFS), a semiconductor manufacturer, and Ford Motor Co. (NYSE: F) have announced a strategic collaboration to advance semiconductor manufacturing and technology development within the U.S., aiming to boost chip supplies for Ford and the U.S. automotive industry. According to a news release, the companies have signed a non-binding agreement that opens the door for GF to create further semiconductor supply for Ford’s current vehicle lineup and joint research and development to address the growing demand for feature-rich chips to support the automotive industry.

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