GlobalFoundries CEO shoots down Intel takeover story

Jul. 19, 2021 5:25 PM ETIntel Corporation (INTC)INTCBy: Brian Stewart, SA News Editor43 Comments

Computer Education Training Class
sefa ozel/E+ via Getty Images

  • Thomas Caulfield, CEO of semiconductor manufacturer GlobalFoundries, shot down reports that Intel (NASDAQ:INTC) was in talks to buy the company in a $30B deal.
  • "There's nothing to that story," he bluntly told CNBC in an interview Monday.
  • Caulfield also gave an upbeat forecast for the chip-making industry, saying that an increase in capacity won't create a boom-and-bust cycle for the sector because current demand can support a massive expansion in output.
  • "This industry has to double in the next eight years," he noted.
  • Last week, the Wall Street Journal reported that Intel was looking into a possible purchase of GlobalFoundries. The deal, potentially valued at $30B, would represent the biggest-ever purchase by Intel.
  • For more on Intel's prospects, check out an in-depth report from SA contributor Arne Verheyde, who says that inflection points are looming for the company.

Recommended For You

Comments (43)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.