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Intel in Talks to Buy GlobalFoundries for About $30 Billion

posted by martyb on Tuesday July 20 2021, @09:09AM   Printer-friendly
from the Glo-with-the-Flo dept.

upstart writes:

Intel in talks to buy GlobalFoundries for about $30 billion:

July 15 (Reuters) - Intel Corp (INTC.O) is in talks to buy semiconductor manufacturer GlobalFoundries Inc for about $30 billion, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Any deal talks don't appear to include GlobalFoundries directly, as a spokesperson for the company told the Journal it was not in discussions with Intel, according to the report. (https://on.wsj.com/3yXFQLU)

Talks come as a semiconductor shortage is hobbling industries around the globe. A deal could help Intel ramp up production of chips at a time demand is at its peak and the company is looking to start producing chips for car makers that have struggled to keep operations running due to severe shortages.

Intel, one of the last companies in the semiconductor industry that both designs and manufactures its own chips, said earlier this year it would expand its advanced chip manufacturing capacity by spending as much as $20 billion to invest in factories in the U.S.

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  • (Score: 3, Informative) by takyon on Tuesday July 20 2021, @10:08AM

    by takyon (881) <takyonNO@SPAMsoylentnews.org> on Tuesday July 20 2021, @10:08AM (#1158207) Journal

    GlobalFoundries is majority owned by Mubadala Investment Company [wikipedia.org]:

    Mubadala Investment Company PJSC (Arabic: شركة مبادلة للاستثمار‎) (Mubadala) is an Emirati state-owned holding company that can be characterized as a sovereign wealth fund. The organization is strongly connected to Mohamed bin Zayed, crown prince of Abu Dhabi.

    It was established in 2017 when then-named Mubadala Development Company (now Mamoura Diversified Global Holding) and the International Petroleum Investment Company (IPIC) merged. It is a wholly owned investment vehicle of the government of Abu Dhabi, in the United Arab Emirates. Reportedly, Mubadala Investment was formed after Khadem al-Qubaisi, ex-managing director of IPIC, was arrested over his and the company’s involvement in the 1MDB scandal [wikipedia.org].

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