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Global Foundries CEO Denies Reports of Intel Acquisition

Intel’s possible acquisition of GlobalFoundries has been the topic of many discussions over the last few days. Valued at $30 billion, such a deal would greatly bolster Intel’s in-house production capabilities in the United States. It would be like killing two birds with one stone, as it’d provide the former AMD foundry with sufficient capital to expand its capacity, all the while boosting Intel’s IDM 2.0 initiative.

However, as per Thomas Caulfield, CEO of GlobalFoundries this report is far from the truth. Speaking to CNBC on Monday, he straight-up dismissed the deal, stating that there was nothing to that story. Caulfield was positive about the future of the chipmaking industry, saying that an increase in capacity wouldn’t create a boom-and-bust cycle as the rapidly growing demand should be able to support a massive expansion in capacity.

We’ll keep an eye on the story, and update you as we hear more. We wouldn’t completely dismiss the possibility of an Intel acquisition of GloFlo just yet. The latter has recently announced multiple expansion projects in the US, as well as a rebranding of its several-year-old logo.

Via: SeekingAlpha

Areej

Entrepreneur, tech-analyst, PC gamer, and hardware enthusiast. Former co-founder of Techquila (2017-2019), a fairly successful tech outlet. Been working on Hardware Times since then, an outlet dedicated to computer hardware and its applications.

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