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MAY-JUNE 2020      TAP TIMES          -12-          Mubadala is 100 percent government
                                                                owned, and boasts assets worth more than
                  Silicon Valley (from 11)                      $65 billion.

        Originally Mubadala and Advanced Micro                  Aside from GLOBALFOUNDRIES, the UAE-
        Devices, Santa Clara, were the major own-               government has invested in real estate,
        ers of GLOBALFOUNDRIES.                                 health care, communications, metals and
                                                                mining, petroleum and utilities.
        For iconic AMD, the goal was to shed the
        burdensome expense of maintaining wafer                 The Missing Link
        fabs on several continents by joining with              Middle Eastern countries have coveted the
        GLOBALFOUNDRIES, which began opera-                     position held by semiconductor-rich coun-
        tions in 2009.                                          tries for years.

                                                                        Mubadala is the first major Middle
                                                                        Eastern investor to set its sights on

                                                                        This giant began in 2002 and now
                                                                        boasts more than 18,000 employ-
                                                                        ees in several diversified industries

                                                                        In a deal that closed in July 2015,
                                                                        GLOBALFOUNDRIES acquired IBM’s
                                                                        money-losing microelectronics busi-

        This  is  downtown  Dubai  at  night,  a  modern,  western-  Not your typical acquisition
        ized city.  Although the UAE has become a destination for
        wealthy tourists, it hopes to expand into a manufacuring   This was not your typical acquisition. In
        giant. (Anna Om)                                        fact, IBM paid GLOBALFOUNDRIES some
                                                                $1.5 billion to take the business unit with
        AMD: from 34.2 Percent to Zero                          plants in East Fishkill, N.Y., and Essex
        In the beginning AMD held 34.2 percent                  Junction, Vt.
        of GLOBALFOUNDRIES, a figure which                                                             next page
        dropped to 8.8 percent a few years later
        and finally to zero.

        GF’s showplace fab is in Malta, N.Y., lo-
        cated in Saratoga county in upstate New
        York, a few minutes’ drive from Saratoga

        The location, before becoming a tech cen-
        ter, was known as the home of the Sarato-
        ga Racetrack—a retreat for the horsey set
        to watch thoroughbred racing  The region
        is also featured in Edna Ferber’s classic
        Saratoga Trunk.                                         Before it was a tech center, Saratoga county was a water-
                                                                ing place for wealthy New Yorkers. (
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