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Magnachip Semiconductor Corporation announced that the Board of Directors of the Company has approved an initiative intended to enhance independent Board oversight and feedback to management in conjunction with the Company’s previously announced transition to a pure-play Power business, implementation of management’s 3-3-3 strategy, and launch of new-generation Power discrete products.
The 3-3-3 strategy aims for Magnachip to achieve $300 million in annual revenue and a 30% gross margin over a three-year horizon to align Magnachip’s product roadmap, R&D investments, and operational priorities to drive structural improvements and sustainable profitability.
The Company’s Chairman, Camillo Martino, has agreed, on behalf of the Board to spend additional time on-site at the Company’s headquarters in Korea to meet with management and report back to the full Board during the implementation phase of its 3-3-3 strategy to achieve profitable growth and to maximize shareholder value. The Board expects Mr. Martino to spend several days each month in Korea for at least the remainder of 2025 in order to more closely oversee and report regularly to the Board’s other independent directors on the Company’s progress in its important strategy milestones, as well as to provide more timely feedback to management on behalf of the Board.
Camillo Martino, Chairman of Magnachip, said, “I look forward to spending more time on the ground with our management team in Korea to assist the full Board in its oversight responsibilities during the Company’s implementation of its 3-3-3 strategy as a pure-play Power business. Spending additional time on-site with the management team will allow more streamlined and timely communication with the rest of the independent Board members as Magnachip management implements its strategy to deliver new-generation Power discrete and Power IC products while also achieving its financial targets.”
YJ Kim, Magnachip’s CEO, said, “We welcome the additional support from Camillo on behalf of the Board, and look forward to continuing to provide timely feedback to the rest of the Board as we pursue these new exciting opportunities for Magnachip.”
Original – Magnachip Semiconductor
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GlobalFoundries announced plans to invest $16 billion to expand its semiconductor manufacturing and advanced packaging capabilities across its facilities in New York and Vermont. GF’s investment is a strategic response to the explosive growth in artificial intelligence, which is accelerating demand for next-generation semiconductors designed for power efficiency and high-bandwidth performance across datacenters, communications infrastructure and AI-enabled devices.
GF is collaborating with major technology companies such as Apple, SpaceX, AMD, Qualcomm Technologies, Inc., NXP and GM, that are committed to reshoring semiconductor production to the U.S. and diversifying their global supply chains. These companies partner with GF to support their production of U.S.-made chips, underscoring GF’s role as a trusted supplier of essential semiconductors and a key enabler of supply chain security.
“At GlobalFoundries, we are proud to partner with pioneering technology leaders to manufacture their chips in the United States—advancing innovation while strengthening economic and supply chain resiliency,” said Tim Breen, CEO of GlobalFoundries. “The AI revolution is driving strong, durable demand for GF’s technologies that enable tomorrow’s datacenters – including GF’s leading silicon photonics, as well as GaN for power applications. Meanwhile at the edge, GF’s proprietary FDX technology is uniquely positioned to support AI functionality with low power consumption. With all these technologies and more manufactured right here in the U.S., GF is proud to play its part in accelerating America’s semiconductor leadership.”
“GlobalFoundries investment is a great example of the return of United States manufacturing for critical semiconductors,” said U.S. Secretary of Commerce, Howard Lutnick. “President Trump has made it a fundamental objective to bring semiconductor manufacturing home to America. Our partnership with GlobalFoundries will secure U.S. semiconductor foundry capacity and technology capabilities for future generations.”
The rapid rise of AI in both the cloud and at the edge is driving the adoption of new technology platforms and 3D heterogeneous integration technologies. These advanced solutions are essential to meet the exponentially growing requirements for power efficiency, bandwidth density and performance. GF is uniquely positioned to lead in this space, with its 22FDX® and silicon photonics capabilities in production in New York and advanced development of differentiated GaN-based power solutions in Vermont.
GF’s investment builds upon the company’s existing U.S. expansion plans, including more than $13 billion to expand and modernize its New York and Vermont facilities and funding for its recently launched New York Advanced Packaging and Photonics Center—the first U.S.-based facility of its kind dedicated to silicon photonics packaging. GF is committing an additional $3 billion, which includes advanced research and development initiatives focused on packaging innovation, silicon photonics and next-generation GaN technologies. In aggregate, these investments represent a $16 billion plan to strengthen U.S. semiconductor leadership and accelerate innovation in AI, aerospace, automotive and high-performance communications.
“Today’s announcement is a direct result of President Trump’s leadership and his vision to bring back high-paying manufacturing jobs and reestablish secure, domestic supply chains for critical technologies,” said Dr. Thomas Caulfield, Executive Chairman of GlobalFoundries. “We look forward to continuing to work with the U.S. government to help create the conditions for industry and government to work together and drive meaningful, long-term impact.”
“GlobalFoundries has supplied semiconductors for Apple products since 2010 and we’re excited to see them expand right here in the United States. These chips are an essential part of Apple products like iPhone, and they’re a powerful example of American manufacturing leadership.”
Tim Cook, Apple’s CEO
“Advanced semiconductors are critical to the advanced satellite capabilities which SpaceX has been pioneering for over two decades. We are excited by the expansion of GlobalFoundries’ manufacturing base right here in the U.S., which is core to Starlink’s growth and our commitment to manufacturing in the U.S., as well as our mission to deliver high-speed internet access to millions of people around the world.”
Gwynne Shotwell, president and COO at SpaceX
“As a valued technology partner, we’re pleased to see GlobalFoundries deepen its commitment to U.S. manufacturing. These efforts are critical to building a secure and resilient semiconductor supply chain in the U.S. to support the next wave of innovation in our industry.”
Dr. Lisa Su, AMD Chair and CEO
“As a strategic supplier of Qualcomm, GlobalFoundries shares our vision for strengthening U.S. chip production capacity. This commitment from GlobalFoundries will help secure a resilient semiconductor supply chain to support the next wave of U.S. technology innovation, especially in areas vital to enabling power efficient computing, connectivity, and edge intelligence.”
Cristiano Amon, president and CEO of Qualcomm Incorporated
“Deepening our partnership with GlobalFoundries aligns with NXP’s hybrid manufacturing strategy, where we work with leading foundry partners to better serve our customers’ strategic technology, capacity and resilience needs. This collaboration allows us to scale efficiently, expand production in the U.S. and continue delivering for our customers. It’s a strong step forward in building a resilient, high-performing semiconductor supply chain in the United States.”
Kurt Sievers, chief executive officer of NXP Semiconductors
“Semiconductors are critical to the future of vehicles, and their importance will only grow. GlobalFoundries’ investment supports our work to secure a reliable, U.S.-based chip supply—essential for delivering the safety, infotainment and features our customers expect.”
Mark Reuss, president of General Motors
Original – GlobalFoundries
