The Middle East is getting its first microchip factory thanks to a massive $7 billion investment by the Abu Dhabi government-owned Advanced Technology Investment Company (ATIC).
You might recognize ATIC as the company behind GlobalFoundries, AMD's microchip business spin-off. ATIC has already plunked down $3.6 billion expanding GlobalFoundries and improving plants in Germany and the U.S.
According to company CEO Ibrahim Ajami, the new facility will ramp up its production between 2014 and 2015. GlobalFoundries will operate the 300mm fab, and with continued investments, has grown to rival chip making stalwart Taiwan Semiconducter Manufacturing Company (TSMC).