Reuters
The upbeat forecast is the latest positive sign for the industry after earnings of chip firms including NXP Semiconductors and Texas Instruments showed that demand was picking up, aided by orders from the industrial sector. "Pockets of the semiconductor industry" have started to emerge from inventory corrections, GlobalFoundries CEO Thomas Caulfield said in a statement. GlobalFoundries — the world's third-largest contract chipmaker — had won $1.5 billion in subsidies from the U.S. government earlier this year, which it plans to use for the construction of a new semiconductor production facility in Malta, New York and expand existing operations there and in Burlington, Vermont.