GlobalFoundries set the goal to capture 30 percent of the foundry market within three years:
"Am I setting very aggressive targets? Yes. We need to be a $5 billion company in the next two to three years," a Bloomberg report quoted Ibrahim Ajami, chief executive officer of Advanced Technology Investment Co. (ATIC), as saying. ATIC is the government-owned investment company that has a majority stake in GlobalFoundries.
Unfortunately, $5 billion in annual sales won't quite get GlobalFoundries to 30 percent and it will be up against a dominant market leader in Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC). In 2009 TSMC was ranked the top foundry with about 45 percent of a market worth about $20 billion. It was three times larger than its nearest rival, United Microelectronics Corp. That market is expected to grow strongly in 2010 and 2011.