Global Foundries is set to receive $1.5 billion in government funds under the CHIPS Act, and another $600 million from New York state in one form or another.

tomshardware.com/tech-industry/manufacturing/globalfoundries-gets-15-billion-from-chips-fund-dollar600-million-from-ny-state

Global Foundries was originally the manufacturing arm of AMD, and was then spun off as a separate company, acquired the semiconductor operations of AMD, and was bought by the UAE, not necessarily in that order.

The company is planning to invest $12 billion over the next decade, mostly on specialised production like gallium nitride and expanding bulk processes on 12nm.

Is this money well spent? Probably not; if it were, Global Foundries wouldn't need the money. Is it money better spent than almost anything the US federal government does? Maybe.