ATIC owns unlisted Global Foundries, having completed a buyout of joint venture partner
"We have received commitments from Mubadala for an additional
ATIC, which expects to be profitable by 2015, also plans to invest in Global Foundries' chip manufacturing facilities in
ATIC wants to expand the factory to produce advanced chips with features measuring 20 and 14 nanometers, or a billionth of a meter, which will be growth areas in the next three to four years, Ajami said.
Contract chip manufacturers regularly upgrade their factories to produce smaller chips, a vital part of making electronic devices smaller, such as thinner mobile phones.
Global Foundries competes against leading contract chipmaker
Growth rates are in the high single-digits for the semiconductor industry, which has been hit by falling demand for personal computers as people switch to mobile devices such as tablets, Ajami said.
But chip manufacturers will continue to grow at a double-digit pace as more firms outsource production to companies like Global Foundries, he said.
Reacting to the slowdown in its core PC chip business,
"It is competitive but lots of segments are demanding more and more digital circuits such as automobiles, mobiles and electronics," Ajami said.
Plans to build a wafer fabrication plant in
But the company continues to invest in the oil-rich emirate, especially in research, development and training, Ajami said.
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