Intel in talks to buy GlobalFoundries for about $30 billion – WSJ

1 minute ago by Reuters1 minute ago by Reuters1 minute ago by Reuters1 ReadFILE PHOTO: An Intel Tiger Lake processor is shown at an Intel news conference at CES 2020 in Las Vegas, Nevada, United States, on January 6, 2020. (Reuters) – REUTERS/Steve Marcus/File Photo The Wall Street Journal reported on Thursday that Intel Corp is in talks to buy semiconductor producer GlobalFoundries Inc for approximately $30 billion, citing people familiar with the situation. GlobalFoundries is owned by Mubadala Investment Co., an Abu Dhabi sovereign wealth fund with industrial operations in the United States, Europe, and Asia. The agreement may allow Intel to increase chip production at a time when demand is highest. According to the WSJ article, GlobalFoundries isn’t in conversations with Intel, and a representative for the business stated the company isn’t in talks with Intel. Reuters reached out to Intel, Mubadala Investment Co, and GlobalFoundries for comment, but they did not immediately respond. Nivedita Balu contributed reporting from Bengaluru, while Krishna Chandra Eluri and Shounak Dasgupta edited the piece./nRead More