News

The Wall Street Journal: Intel explores deal to buy chip maker GlobalFoundries for around $30 billion

0

Intel Corp.
INTC,
-1.26%

 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.

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 headquartered in the U.S.

Any talks don’t appear to include GlobalFoundries itself as a spokeswoman for the company said it isn’t in discussions with Intel.

An expanded version of this report appears on WSJ.com.

Also popular on WSJ.com:

Is a graduate degree worth the debt? Check it here.

Your child tax credit payment just arrived. Are you sure you want it?

What’s Worth Streaming: Here’s what’s coming to Hulu in August 2021, and what’s leaving

Previous article

NewsWatch: Apple, Amazon, ARKK, and other big names indicate a market correction is coming, strategist says. Here’s why.

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News