The newest major chip manufacturing corporation finally has a name: GlobalFoundries. The next step is to build its new fab.

AMD has been slowly spinning off its chip fab business for the past few years, and in the process is building a new US$4.2 billion fab in the northeast USA - near Albany, New York. Cash-strapped AMD was only able to do this via a joint venture with an investment fund headquartered in Abu Dhabi.

More details are available at eWeek, PCWorld, and the major newspaper in Albany, the Times Union.