Intel Is in Talks to Buy GlobalFoundries for About $30 Billion

guest · Jul 15, 2021

Intel is reportedly in talks to buy the $30 billion foundry company AMD spun off a decade ago
Intel isn’t saying either way
July 15, 2021
https://www.theverge.com/2021/7/15/22579404/intel-globalfoundries-acquisition-buy-rumor

In 2008, chipmakers Intel and AMD took two distinct paths: Intel kept manufacturing its own chips to maintain full control, while AMD decided to spin off its semiconductor business as GlobalFoundries, relying on it and other manufacturers to provide the actual silicon. Now, The Wall Street Journal is reporting that Intel is looking to snap up AMD’s former fabs as well, in a deal that could value them at $30 billion.

It’s clear from the WSJ story that the deal isn’t a sure thing, and GlobalFoundries outright denied that it was in talks with Intel. But it’s possible Intel’s negotiating with the investment firm that owns GlobalFoundries instead, as the WSJ points out. It’s also intriguing that the Journal doesn’t have a “no comment” from Intel itself — that’s sometimes a canary to indicate a company did comment, just off the record or on deep background.
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There’s an obvious reason why Intel might want GlobalFoundries — it’s actually ramping up its foundry business now.
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guest · Jul 22, 2021

GlobalFoundries shoots down Intel buyout rumor, will move ahead with IPO
Intel hasn't formally put an offer on the table... yet
July 21, 2021
https://www.techspot.com/news/90505-globalfoundries-shoots-down-intel-buyout-rumor-move-ahead.html

Recap: Intel might not be buying GlobalFoundries after all. Word around the water cooler last week suggested Intel was in talks to buy semiconductor manufacturer GlobalFoundries for roughly $30 billion. But, in talks with who, specifically? The rumor also came with an interesting asterisk – that GlobalFoundries executives didn’t appear to be involved.

In a follow up from Bloomberg, that last nugget has seemingly been confirmed. GlobalFoundries CEO Tom Caulfield told the publication that there was “nothing there in that discussion.” Instead, the chipmaker is moving forward with plans for an initial public offering, with Caulfield adding that “you can expect a lot of speculation to take place.”
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Of course, just because Intel hasn’t approached GlobalFoundries owner Mubadala Investment Company about the acquisition doesn’t mean they won’t put an offer on the table, and it doesn’t mean Mubadala wouldn’t entertain it or even take it. At the end of the day, money talks, and if there’s enough of it, most will walk off with it.
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guest · Aug 19, 2021

GlobalFoundries files for IPO, dashing hopes of Intel acquisition
August 18, 2021
https://siliconangle.com/2021/08/18/globalfoundries-files-ipo-dashing-hopes-intel-acquisition/

The chipmaker GlobalFoundries Inc. has reportedly filed its plans for an initial public offering, delivering a blow to Intel Corp.’s hopes of acquiring the company.

Reports emerged in July that Intel was in discussions to acquire GlobalFoundries for as much as $30 billion, in order to accelerate new Chief Executive Officer Pat Gelsinger’s plans to manufacture more computer chips for other companies.
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But today’s report from Reuters suggests GlobalFoundries is not interested in a sale. The chipmaker, which is owned by Abu Dhabi’s sovereign wealth fund Mubdala Investment Co., is said by sources to be working with Morgan Stanley, Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc. and Credit Suisse Group AG on preparations for its IPO.

Reuters’ sources said Intel has not yet made a formal offer to buy GlobalFoundries and that it may decide not to do so. It’s believed GlobalFoundries executives are worried that selling itself to Intel would upset key customers, including AMD.
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Intel Is in Talks to Buy GlobalFoundries for About $30 Billion

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