Hope for crisis-hit chip industry

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Hope for crisis-hit chip industry

Despite the economic slump that has battered the semiconductor business, a new player from the United States' Silicon Valley technology belt is investing billions of dollars in a bid to catch the next wave of growth.

GlobalFoundries, formed in March, will focus on making next-generation chips, which it hopes will accelerate competition in a global foundry market dominated by Taiwanese and Singaporean firms.