Bulletins

Intel exploring $30 billion bid for GlobalFoundries

The deal would be the largest in Intel history, but GlobalFoundries says it isn't involved in talks right now.

Intel exploring $30 billion bid for GlobalFoundries
Intel earnings: What economic crisis?
Intel

Intel is reportedly considering a $30 billion offer to purchase GlobalFoundries, a semiconductor manufacturer owned by Mubadala Investment Co., the investment unit for the Abu Dhahbi government, according to the Wall Street Journal.

Any discussions don't appear to include GlobalFoundries; a spokeswoman told the outlet that it is not in talks with Intel.

The purchase would be the biggest in the chipmaker's history and the most significant move yet by newly-minted CEO Pat Gelsinger to leave his mark on the company. The proposed deal comes amid a widespread chip shortage that has U.S. officials worried about the tech industry's over-reliance on chip makers in Taiwan.

Gelsinger, however, has outlined an ambitious strategy to bolster Intel's U.S.-based manufacturing capabilities, including a $20 billion investment to build new factories in Arizona, part of a broader plan to boost its third-party business. If successful, the move would help beat back competition from the top two foreign semiconductor makers: TSMC and Samsung.

Correction:An earlier version of this story misstated the amount of money Intel invested in its new Arizona factories. This story was updated on July 16, 2021.

Joe Williams

Joe Williams is a writer-at-large at Protocol. He previously covered enterprise software for Protocol, Bloomberg and Business Insider. Joe can be reached at JoeWilliams@Protocol.com. To share information confidentially, he can also be contacted on a non-work device via Signal (+1-309-265-6120) or JPW53189@protonmail.com.

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