Thomas Des on investment

About Thomas Des

Thomas Des, Executive Chairman of GlobalFoundries, has been discussing the company's expansion plans and the broader semiconductor market. In February 2024, he commented on a $1.5 billion award from the CHIPS Act, calling it "a big deal for GlobalFoundries" and stating that the funding "creates the ability for us to create globally competitive capacity and to do it right here in the U.S." He noted that the investment would support doubling the scale of the company's New York facility and modernizing its Vermont facility. Des also said the semiconductor industry "needs another quarter or so to bring inventory down" and that a recovery would require "strength in the second half, getting interest rates under control, and getting consumer spending again." In earlier appearances, Des emphasized the importance of supply chain resiliency and the long-term growth of the semiconductor industry. He stated that the industry "has to double in the next eight to ten years" and that GlobalFoundries was investing $6.5 billion over two years to increase output. Des argued that expanding existing facilities is faster than building new ones, saying "it's better to expand existing facilities." He also addressed geopolitical tensions, noting that semiconductors are critical to "economic security, supply chain security, and national security," and that rebalancing global concentration "is going to take decades."

Profile compiled from Thomas Des's verified public interviews and appearances. See all quotes & transcripts →