GLOBALFOUNDRIES, APPLIED MATERIALS AND FORD TO CO-HOST CEO SUMMIT TO SECURE U.S. CHIP SUPPLY CHAIN

Business leaders and senior government officials to discuss new partnerships for U.S. technology leadership and collaboration on next steps following passage of CHIPS and Science Act

WASHINGTON, Aug. 8, 2022 /PRNewswire/ -- GlobalFoundries (Nasdaq: GFS) (GF), Applied Materials, Inc. (Nasdaq: AMAT) and Ford Motor Company (NYSE: F) today announced that the three companies' CEOs will be co-hosting a summit of senior government officials, CEOs and C-suite executives from companies either involved in technology manufacturing or companies whose ability to compete depends on continued innovation, technology leadership and access to semiconductor chips in the U.S.

The recent passage of the CHIPS and Science Act is a testament to the broad, bipartisan support and commitment to increasing semiconductor manufacturing in the U.S. These investments will enable the public-private partnerships that are needed to meet and keep up with the increasing demand for semiconductors. It will create the industrial strategy required to level the playing field for competitive semiconductor R&D and manufacturing in the U.S. 

The CEO summit is bringing industry and senior government partners together to engage in a constructive dialogue to discuss how these public investments can accelerate semiconductor and emerging technology manufacturing, support the electrification of automobiles with a ready supply of chips, including feature-rich chips, and strengthen the United States' economy, supply chains, and national security.

Joining industry leaders will be National Economic Council Director Brian Deese, Under Secretary of Defense for Acquisition & Sustainability Dr. William LaPlante, and National Security Council Senior Director for Technology & National Security, Tarun Chhabra underscoring the importance of domestic manufacturing to national and economic security.

"President Biden and Congress have taken the bold action to level the playing field for competitive semiconductor manufacturing in the U.S.," said Dr. Thomas Caulfield, President and CEO of GF. "The CHIPS and Science Act protects U.S. economic, supply chain and national security by accelerating semiconductor manufacturing on American soil and provides our customers with the supply chain predictability, reliability and security they expect and deserve."

The one-day summit is being held Monday, Aug. 8, 2022, in Washington and brings together leaders from:

• Semiconductor equipment, manufacturing and product companies, and industry associations
• Major automotive, technology and advanced systems companies
• The White House and Department of Defense

"Semiconductors are the foundation of incredible advances in technology that will transform nearly every area of the economy over the coming decades," said Gary Dickerson, President and CEO of Applied Materials. "The CHIPS and Science Act provides a catalyst for the industry to accelerate investments to make our supply chains more robust, speed up innovation and commercialization of next-generation technology, and create thousands of U.S. jobs."

With the investments that semiconductor manufacturers, their customers and the U.S. government will be making following the legislation's recent passage, summit participants will be discussing how industry stakeholders can best accelerate U.S.:

• Semiconductor manufacturing
• Transportation electrification
• Economic, supply and national security

"With his expected signing of the bipartisan CHIPS and Science Act tomorrow, President Biden is making it clear that government and industry leaders are laying the foundation for the next chapter in American innovation and manufacturing," said Jim Farley, President and CEO of Ford. "A reliable domestic supply of chips, including legacy semiconductors needed in the automotive and defense industries, will keep American manufacturing lines humming, help make sure customers get the connected and electric vehicles they want, and strengthen the American economy and national defense."

More than 35 senior executives and leaders will be joining Dr. Thomas Caulfield, President and CEO, GF, Gary Dickerson, President and CEO, Applied Materials and Jim Farley, President and CEO, Ford at the summit for these timely and critical discussions. A list of participants may be found here.

GlobalFoundries, Inc. (GF) is one of the world's leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, that is committed to helping build a better world, where every person is free to move and pursue their dreams. The company's Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for and deepen the loyalty of those customers. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, as well as connected services. Additionally, Ford is establishing leadership positions in mobility solutions, including self-driving technology, and provides financial services through Ford Motor Credit Company. Ford employs about 182,000 people worldwide. More information about the company, its products and Ford Credit is available at corporate.ford.com.

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SOURCE GlobalFoundries (GF)