According to Mubadala (CEO of Abu Dhabi sovereign wealth funds), the semiconductor industry will experience exponential growth in the coming decade. He said that chipmakers have a role to play in the world’s economy.

“It took fifty years for the semiconductor company to grow into half of a trillion dollars. The second half of the business will take between eight and ten years. In an exclusive interview, Khaldoon Al Mubarak stated that it will take between eight and ten years for the double.

Mubadala, Abu Dhabi’s investment fund is managed by $240 billion. The Mubadala also holds a large stake in the chipmaker GlobalFoundries, recently raising almost $2.6 billion in an initial public offering — one of the largest on a U.S. exchange this year.

We take this as one important data point. You combine that with another very relevant data point … there’s [only]He added that five of the global foundry companies, including four in Asia, are foundry business, and they include five other businesses.

Global Foundries, one of the three, has I believe, the distinctive platform that is in the United States, Europe, and Asia.

Al Mubarak makes comments that are indicative of the demand for chip products continues to outstrip supply. Production in many industries has been affected by the shortage, including automobiles, smartphones, computers, and consumer appliances.

Some investors and analysts expect the supply crunch to persistThrough at most 2023, others are more bullish.

GlobalFoundries stated in its IPO filing, that to maintain demand in the semiconductor industry, there will be a substantial increase in investments. This is despite the fact that GlobalFoundries believes the imbalance in supply and demand could decrease in the near future.

It is the third-largest market player in semiconductor fabrication. Taiwan Semiconductor ManufacturingSouth Korea’s (TSMC), Samsung.

Taiwan-based United Microelectronics CorporationChina’s (UMC) Semiconductor Manufacturing International Corporation(SIMC), are some of the top semiconductor companies.

GlobalFoundries produces chips that are designed and manufactured by customers. These include contactless payment, touch screen drivers for battery power management touch displays, and other uses. It has three U.S. plants — two in New York State and one in Burlington, Vermont — as well as a plant in Germany and another in Singapore.

— CNBC’s Saheli Roy Choudhury & Ari Levy contributed to this report.