US penalizes GlobalFoundries for shipping chips to Chinese firm

Quick Summary:

The United States has imposed a $500,000 mitigated penalty against GlobalFoundries for shipping chips to a Chinese company without seeking authorization, the Department of Commerce said on Friday.

In a statement, it said GlobalFoundries had sent 74 shipments worth $17.

Exports to firms on the list require a license, which GlobalFoundries did not apply for, the department said.

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Category: EconomyBusiness

Markets: SingaporeUnited States

Topics: Mediacorp Company Globalfoundries Displays Department Photo: Logo Experience File List Screen

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-02 @ 02:01:55 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 161 words

Reading Time: 1 minutes read

Sentences: 7 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23366130

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News Last Updated: 4 hours ago

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