Abu Dhabi investor of chip giant GlobalFoundries sees exponential growth for the industry

Abu Dhabi investor of chip giant GlobalFoundries sees exponential growth for the industry

The semiconductor industry is on track to record exponential growth over the next decade, according to the CEO of Abu Dhabi sovereign wealth fund Mubadala, who said chipmakers are poised to play a "crucial" role in the global economy. "It took 50 years for the semiconductor business to turn into a half a trillion-dollar business. It's going to take probably eight to 10 years to double. And it's going to double right after that, probably in four to five years," Khaldoon Al Mubarak told CNBC's Hadley Gamble in an exclusive interview. Mubadala is Abu Dhabi's state investment fund and manages roughly $240 billion in assets. It is also a major shareholder of chipmaker , recently raising almost $2.6 billion in an initial public offering — . "So, we take that, as one very important data point. You combine that with another very relevant data point … there's [only] five foundry businesses, global foundry businesses, four of which are in Asia," he added. "One of which, Global Foundries has, I think, the unique differentiated platform of being in the United States, in Europe, and in Asia." Al Mubarak's comments come as demand for chips . The shortage has hampered production across