Friday, 24 March, 2023

Intel planning to acquire GlobalFoundries in a $30bn deal

<p>Intel Corp is negotiating a deal with GlobalFoundries for an estimated value of $30 bn. The deal does not involve GlobalFoundries directly as it was not in direct discussion with Intel. Earlier this year Intel announced expanding its advanced chip manufacturing business by spending $20bn in US factories. Intel is also looking to start making chips for carmakers who have struggled during the pandemic due to a shortage of chips.</p>