Intel Corporation is exploring a deal to buy GlobalFoundries Inc., 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.
Intel Corporation
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.
![Intel Corporation](https://newsstedy.com/wp-content/uploads/2021/07/1626402430_social-300x150.jpeg)
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 Corporation](https://newsstedy.com/wp-content/uploads/2021/07/intel-corporation.jpg)
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 Also: Netflix Videogame Gambit Is Taking Streaming Competition