GF denied being acquired! IPO next year, another $1 billion investment in expansion

According to foreign media reports, on the 19th local time, Caulfield denied Intel’s rumors of its acquisition in an exclusive interview and said that the IPO plan for 2022 will proceed as scheduled.

Caulfield provided optimistic forecasts for the chip manufacturing industry, stating that the increase in production capacity will not cause a cycle of prosperity and decline for the industry, because current demand can support the industry's massive expansion. He believes that "the scale of the industry is expected to double in the next 8 years."

It is reported that the predecessor of GlobalFoundries was AMD's chip manufacturing department, which was spun off in 2009 and is currently owned by Mubadala Investment Co., the sovereign investment fund of Abu Dhabi, and is headquartered in the United States. It is currently the world's fourth-largest chip foundry after TSMC, Samsung Electronics, and UMC. AMD is one of its main customers.

Prior to this, Reuters also quoted sources on the 19th that Mubadala also intends to make GlobalFoundries publicly listed through an IPO. According to news, Mubadala is still focusing on GlobalFoundries' IPO plan and has not discussed the acquisition with Intel.

Seems to be part of the preparation for the IPO, GlobalFoundries announced the launch of a new brand through its official WeChat public account at 9 o'clock on the 20th Beijing time.

At the same time, GlobalFoundries also announced that in the next few years, it will implement an expansion plan for its advanced wafer foundry in Upstate New York. The company will immediately invest in the existing Fab 8 wafer fab, and build a new wafer foundry in the same park, doubling the production capacity of the site to cope with the global chip shortage.

It is understood that GlobalFoundries plans to spend US$1 billion to expand the annual production capacity of the existing fab by 150,000 wafers. After that, the company will build a new factory, directly creating more than 1,000 high-tech jobs, and indirectly creating thousands of jobs locally, including high-paying construction jobs.