Chip maker Globalfoundries Inc. is firming up plans to go public, its chief executive said, in a move that could give the company more financial firepower to take advantage of an expected surge in demand for computing power in phones, cars, and connected devices in homes and offices.

Santa Clara, Calif.-based Globalfoundries, one of the world’s largest chip makers, is aiming to pursue the listing in 2022, Thomas Caulfield told The Wall Street Journal on Tuesday.

The...