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Intel Is In Talks To Buy GlobalFoundries For About $30 Billion

Friday July 16, 2021. 04:02 AM , from Slashdot/Apple
Intel Is In Talks To Buy GlobalFoundries For About $30 Billion
New submitter labloke11 shares a report from The Wall Street Journal: Intel is exploring a deal to buy GlobalFoundries (source paywalled; alternative source), according to people familiar with the matter, in a move that would turbocharge the semiconductor giant's plans to make more chips for other tech companies and rate as its largest acquisition ever. A deal could value GlobalFoundries at around $30 billion, the people said. It isn't guaranteed one will come together, and GlobalFoundries could proceed with a planned initial public offering. GlobalFoundries is owned by Mubadala Investment Co., an investment arm of the Abu Dhabi government, but based in the U.S. Any talks don't appear to include GlobalFoundries itself as a spokeswoman for the company said it isn't in discussions with Intel.

Intel's new Chief Executive, Pat Gelsinger, in March said the company would launch a major push to become a chip manufacturer for others, a market dominated by Taiwan Semiconductor Manufacturing Co. Intel, with a market value of around $225 billion, this year pledged more than $20 billion in investments to expand chip-making facilities in the U.S. and Mr. Gelsinger has said more commitments domestically and abroad are in the works.

Read more of this story at Slashdot.

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