Intel looking to boost semiconductor capacity with GlobalFoundries buy, says report

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Intel Corporation (NASDAQ:INTC) is in talks to buy semiconductor manufacturer GlobalFoundries Inc for about US$30bn, according to reports in the US.


GlobalFoundries is owned by Abu Dhabi sovereign wealth fund Mubadala Investment and has manufacturing operations worldwide.


The Wall Street Journal reported that Intel is looking to expand its chip capacity at a time when a shortage of semiconductors is affecting the recovery of a variety of sectors.


Earlier this year, Intel earmarked US$20bn to invest in US factories and said it would open its facilities to outside chip designers having traditionally both designed and produced its own chips.


One potential issue in any deal is that GlobalFoundries still supplies former parent Advanced Micro Devices, Intel’s main US rival, which might pose competition issues.


According to Reuters, Mubadala was looking to list GlobalFoundries later this year.


Neither Intel nor GlobalFoundries confirmed the report.

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