Company: GFS
Filing Date: 2025-03-20
Form Type: 20-F
Source: 0001709048-25-000024
Chunk: 5

Company: GLOBALFOUNDRIES Inc.
Filing Date: 2025-03-20
Form: 20-F
Item: Item 4
Chunk 5
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 Europe, which may lead to increased competition for customers, funding and talent in those jurisdictions.

Government Regulations

Our operations are subject to diverse environmental, health and safety laws and regulations that govern, among other things, emissions of pollutants into the air, wastewater discharges, the use and handling of hazardous substances, waste disposal, the investigation and remediation of soil and ground water contamination and the health and safety of our employees. Our products and technology are subject to export controls in the jurisdictions where we do business and we are also subject to the applicable anti-corruption, anti-bribery, anti-money laundering and counter-terrorist financing laws and regulations in the countries in which we conduct business. See “ Risk Factors - Political, Regulatory and Legal Risks" for additional details.

Governments have in recent years created bold new incentive programs to fund and secure their local semiconductor manufacturing industries. In the United States, the CHIPS and Science Act provided for a 25% investment tax refund and appropriated $52 billion in grants to support the domestic semiconductor industry, of which $39 billion was earmarked for manufacturing capacity expansion. The EU has enacted the European Chips Act, which is intended to provide, through its member states, significant funding to strengthen the EU’s semiconductor industry. See Section “ D. Property, Plant and Equipment” for details regarding how these programs impact on our manufacturing capabilities.

Seasonality

Our revenue is subject to some seasonal variation. Historically, our revenue has been lower in the first half of the year.

For a discussion of our business’s seasonality, see “Item 3. K ey information - D. Risk Factors - Risk Factors - Risks Related to Our Business and Industry - The cyclical nature and seasonality of the semiconductor industry and periodic overcapacity make us vulnerable to significant and sometimes prolonged economic downturns.”