GloFo aims to raise $1bn

Update: August 6, 2023
GloFo aims to raise $1bn

GloFo has said that it aims to spend $6 billion expanding and upgrading its fab stable in the USA, Singapore and Dresden.

GloFo is said to have made a loss for at least the last three years.

Net revenue for H1 2021 was $3.04 billion, up nearly 13% from a year earlier, but with a net loss of $301 million, though down from the $534 million loss for H1 2020.

From 2018 to 2020 GloFo’s net losses amounted to over $5 billion.

GloFo is thought to be banking on a move in the US to use domestic, rather than Asian, foundries,