Mubadala Development Company (Mubadala), the Abu Dhabi-based investment and development company, today announced the Advanced Technology Investment Company (ATIC) – the entity it established in 2008 – will become Mubadala Technology.
The move reflects the growth and maturity of GLOBALFOUNDRIES, now the world’s second-largest semiconductor manufacturing company, which was established by ATIC in 2009.
Since the creation of GLOBALFOUNDRIES, ATIC has formed strong capabilities – from establishing a semiconductor research and development ecosystem in Abu Dhabi, including partnerships with leading UAE universities, to training and recruitment of Emiratis into the industry – that will now report directly into Mubadala. They will join a strong asset management team, ensuring continued shareholder support for GLOBALFOUNDRIES as it attracts new customers at the industry’s most advanced technology nodes. Last month, GLOBALFOUNDRIES and industry giant Samsung announced a partnership agreement that will allow for 14-nanometer manufacturing production in particular at New York’s Fab 8 in the United States.
GLOBALFOUNDRIES was created by combining Advanced Micro Devices' (AMD) manufacturing assets in Germany and New York, and merging them with Chartered Semiconductor of Singapore. The combined entity now has over 13,000 employees with fabrication facilities on three continents.
ATIC CEO Ibrahim Ajami will become the head of Mubadala Technology, part of the company’s overall Technology and Industry platform, as well as Chief Strategy Officer of GLOBALFOUNDRIES. The Technology & Industry platform is one of four key areas of investment focus for Mubadala, along with Energy, Aerospace & Engineering Services and Emerging Sectors.