: Intel in talks to acquire GlobalFoundries for bn: Report #IndiaNEWS #Business Chip-maker Intel is reportedly exploring a deal to acquire GlobalFoundries, a semiconductor company its rival AMD

Intel in talks to acquire GlobalFoundries for bn: Report #IndiaNEWS #Business
Chip-maker Intel is reportedly exploring a deal to acquire GlobalFoundries, a semiconductor company its rival AMD spun off a decade ago, for nearly billion.

According to a report in The Wall Street Journal citing sources, It isnt guaranteed one (the deal) will come together, and GlobalFoundries could proceed with a planned initial public offering.

Both GlobalFoundries and Intel (which have a market value of nearly 5 billion) have denied any suck talks.

We will decline to comment on rumor and speculation, an Intel spokesperson told The Verge.

GlobalFoundries is owned by US-based Mubadala Investment Co, an investment arm of the Abu Dhabi government.

Intel in March announced to invest billion for two new manufacturing facilities in the US, along with plans to outsource more of its chip production to third-party foundries.

New Intel CEO Pat Gelsinger also unveiled a new branch of the company called Intel Foundry Services, to become a major provider of foundry capacity in the US and Europe to serve customers globally.

The two new fabs (or factories) will be built in Arizona, located at the companys Ocotillo campus. These fabs will support the increasing requirements of Intels current products and customers, as well as provide committed capacity for foundry customers.

The Intel CEO expects Intels engagement with third-party foundries to grow and to include manufacturing for a range of modular tiles on advanced process technologies, including products at the core of Intels computing offerings for both client and data center segments beginning in 2023.