UPDATE 1 — Japan to invest up to $21 billion in two US chip factories to be run by GlobalFoundries

(Adds shares in paragraph 2) By Stephen Nellis, Makiko Yamazaki and David Shepardson NEW YORK, Oct 14 (Reuters) — Japan will invest up to $21 billion in two chip factories in New York state that will be jointly owned by the US government and Japanese interests and operated by GlobalFoundries, the company said on Wednesday. Shares of the Malta, New York-based company rose nearly 5% in premarket trading. As of last close, the stock had gained more than 33% so far this year. The move is part of a deal for Japan to invest $550 billion in the US struck by President Donald Trump's administration last year in return for the US lowering tariffs on Japanese cars and other imports from at least 25% to 15%. The US will take a stake in the new chip factories, but Japan will provide all of the investment capital, GlobalFoundries said. The company, which is majority-owned by Abu Dhabi's sovereign wealth fund Mubadala Investment Co, will earn fees from building and operating the factories, as well as licensing chip manufacturing technology to them. In a separate agreement, the US government will take a 4% stake in GlobalFoundries, bringing its total ownership of the chipmaker to about 7%, GlobalF