STMicro and GlobalFoundries Set to Announce French Chip Factory

GlobalFoundries Inc. and STMicroelectronics NV will announce plans to build a semiconductor factory in France next week with the help of government funds, people familiar with the matter said.

The announcement will be part of French President Emmanuel Macron’s push to attract foreign investors during a Choose France summit on Monday and a trip to Grenoble on Tuesday, the people said, asking not to be identified because the plans are still private.