The American corporation Intel plans to acquire one of the world's largest chip manufacturers GlobalFoundries, owned by an investment fund from the UAE. The deal, already valued at $ 30 billion, could be the largest acquisition in Intel's history. However, GlobalFoundries is considering a proposal: due to the global shortage of microcircuits, their production has become an extremely popular and profitable business.
The Wall Street Journal (WSJ) learned about the negotiations between Intel and the owners of the chip maker, the investment fund Mubadala Investment Company, from sources familiar with the corporation's plans. According to the interlocutors of the publication, the outcome of the transaction is not yet guaranteed, since GlobalFoundries may decide instead of an acquisition to try to raise funds through an IPO (initial public offering of shares on the stock exchange).
Nevertheless, if the negotiations are successful, it will be the largest acquisition in Intel's history. So far, the record has been held by the acquisition of Altera, for which the tech giant paid $ 15.4 billion in 2015.
GlobalFoundries accounts for about 7% of the global microelectronics market revenue. The leading chip maker is Taiwan Semiconductor Manufacturing (TSMC), which has already pledged to ramp up its production and invest in manufacturing outside of Taiwan. This step was caused by the global crisis of chips, which are in short supply in all high-tech industries.
The acquisition of GlobalFoundries in the current environment could significantly improve Intel's position and reduce US dependence on foreign suppliers. In 2021, Intel has pledged to invest more than $ 20 billion to expand US chip manufacturing capacity. GlobalFoundries itself is also expanding production: in June, the company opened a new plant in Singapore, investing more than $ 4 billion in it.
GlobalFoundries was founded in 2008 as a result of a separation from one of Intel's main competitors, AMD, which remains a major client of the chipmaker in a multi-year deal for the supply of components. In 2021 alone, AMD acquired chips for $ 1.6 billion. According to WSJ experts, this could seriously complicate the takeover of the company by Intel.
Meanwhile, the shortage of chips continues to affect the market. The auto industry has been particularly hard hit by their shortage. But computer and home appliance manufacturers have also been forced to cut supplies and raise prices. The deficit is expected to continue in 2022, but will gradually ease as semiconductor component manufacturers begin to ramp up their capacity.
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