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SVTPerformance's Chain of Restaurants
Road Side Pub
Frying Pan Into the Fire -- Chip Shortage
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<blockquote data-quote="Weather Man" data-source="post: 16876325" data-attributes="member: 137766"><p><h3><a href="https://seekingalpha.com/news/3934332-general-motors-inks-chip-supply-agreement-with-globalfoundries?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">General Motors inks chip supply agreement with GlobalFoundries</a></h3><p><a href="https://seekingalpha.com/symbol/GM?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">GM +3.08%</a>Feb. 09, 2023 11:49 AM ET<a href="https://seekingalpha.com/news/3934332-general-motors-inks-chip-supply-agreement-with-globalfoundries?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments" target="_blank">3 Comments</a></p><p></p><p>General Motors Co. (NYSE:<a href="https://seekingalpha.com/symbol/GM" target="_blank">GM</a>) and GlobalFoundries (<a href="https://seekingalpha.com/symbol/GFS" target="_blank">GFS</a>) jointly announced a long-term chip supply agreement on Thursday.</p><p></p><p>Under the terms, GlobalFoundries (<a href="https://seekingalpha.com/symbol/GFS" target="_blank">GFS</a>) will manufacture chips for the automaker at an upstate New York plant. The exclusive agreement is expected to allow chips to be produced in higher volumes and stave off shortages such as those seen by the auto manufacturer in recent years.</p><p></p><p>"We see our semiconductor requirements more than doubling over the next several years as vehicles become technology platforms,” Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain, commented. “The supply agreement with GlobalFoundries will help establish a strong, resilient supply of critical technology in the U.S. that will help GM meet this demand, while delivering new technology and features to our customers.”</p></blockquote><p></p>
[QUOTE="Weather Man, post: 16876325, member: 137766"] [HEADING=2][URL='https://seekingalpha.com/news/3934332-general-motors-inks-chip-supply-agreement-with-globalfoundries?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']General Motors inks chip supply agreement with GlobalFoundries[/URL][/HEADING] [URL='https://seekingalpha.com/symbol/GM?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']GM +3.08%[/URL]Feb. 09, 2023 11:49 AM ET[URL='https://seekingalpha.com/news/3934332-general-motors-inks-chip-supply-agreement-with-globalfoundries?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain#scroll_comments']3 Comments[/URL] General Motors Co. (NYSE:[URL='https://seekingalpha.com/symbol/GM']GM[/URL]) and GlobalFoundries ([URL='https://seekingalpha.com/symbol/GFS']GFS[/URL]) jointly announced a long-term chip supply agreement on Thursday. Under the terms, GlobalFoundries ([URL='https://seekingalpha.com/symbol/GFS']GFS[/URL]) will manufacture chips for the automaker at an upstate New York plant. The exclusive agreement is expected to allow chips to be produced in higher volumes and stave off shortages such as those seen by the auto manufacturer in recent years. "We see our semiconductor requirements more than doubling over the next several years as vehicles become technology platforms,” Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain, commented. “The supply agreement with GlobalFoundries will help establish a strong, resilient supply of critical technology in the U.S. that will help GM meet this demand, while delivering new technology and features to our customers.” [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Frying Pan Into the Fire -- Chip Shortage
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