GLOBALFOUNDRIES makes chips so AMD doesn't have to worry about expensive manufacturing issues. In 2009 the company was spun off by AMD as a joint venture with Abu-Dhabi-based Advanced Technology Investment Company (ATIC) to handle semiconductor production. Wafer fabrication facilities (or fabs) are multibillion-dollar facilities to build and maintain; many semiconductor companies are chip design firms that contract out their manufacturing to silicon foundries, chip makers that provide wafer fabrication services. GLOBALFOUNDRIES offers manufacturing services to AMD, QUALCOMM, STMicro, and IBM. The company absorbed Chartered Semiconductor in 2010, making it a global leader in the industry.