Globalfoundries has one simple goal -- to become the biggest contract manufacturer of computer chips on this or any other planet. Working towards that goal, the company will increase spending from $2.7 billion in 2010 to $5.4 billion this year, the company's CFO, Robert Krakauer, said in an interview .
The increased spending will be used to upgrade a plant in Dresden, Germany, as well as putting up two new plants, one in New York and one in Abu Dhabi.
Not many chip makers can spend the kind of money Globalfoundries has allocated, the Taiwan Semiconductor Manufacturing Company (TSMC) being one of the ones which can. TSMC spent $5.9 billion in 2010 and expects to spend even more in 2011. Intel ponied up $5.2 billion last year, and Samsung trumped them all by spending around $10 billion.