Intel (Nasdaq: INTC) is in discussions to acquire GlobalFoundries for approximately $30 billion, The Wall Street Journal reported Thursday.
GlobalFoundries is a semiconductor company based in Malta, New York, that was established after Advanced Micro Devices (Nasdaq: AMD) decided to spin off its chip manufacturing operations. The company is now owned by Mubadala Investment, the Abu Dhabi government’s investment unit.
The move comes as Intel advances efforts to produce more chips for other technology companies and as GlobalFoundries broadens its manufacturing footprint with the construction of a new facility in Singapore.
In March, Mountain View, California-based Intel announced a $20 billion investment plan to support the expansion of semiconductor facilities in the U.S. to help address the current chip shortage.
A spokeswoman for GlobalFoundries said the company is not in talks with Intel.