GlobalFoundries (GF) has revealed plans to invest €1.1 billion ($1.2 billion) to expand its manufacturing capabilities at its Dresden, Germany site. The investment will enable a production capacity increase to more than one million wafers per year by the end of 2028, making it the largest site of its kind in Europe, according to the company. The expansion, known as project SPRINT, is expected to be supported by the German federal government and the State of Saxony under the framework of the European Chips Act, with EU approval for the full program expected later this year. As a part of the project, the facility will be upgraded to offer end-to-end European processes and data flows for critical semiconductor security requirements. The new manufacturing capacity will focus on GF’s highly differentiated technologies — with critical performance features including low power, embedded secure memory, and wireless connectivity — all essential for meeting Europe’s chip demand for automotive, internet of things (IoT), defense, and critical infrastructure applications. The investment will also support continued innovation in next-generation compute architectures and quantum technologies as they scale into the next decade.