Grid Core $100m Expands New York Plant, CEO Quashes Intel Takeover Rumors, Says IPO Will Go Ahead

U.S. semiconductor maker Global Foundries will build a second plant near its headquarters in Malta, New York, and invest $10 million to boost capacity to ease a global chip shortage, the company said Monday. Also participating in the day were U.S. Secretary of Commerce Gina Raimondo (Gina Sen. Chuck Schumer (D-N.Y.) and Sen. Raimondo (R-Mo.).

Meanwhile, in response to the recent "Wall Street Journal" reported that Intel (Intel) is ready to buy Grid Core for $30 billion, Gridcore CEO Tom Caulfield also denied on the spot and will continue to seek an IPO listing.

During the IPO, you'll see all kinds of rumors

Thomas Caulfield said the Intel deal was speculation and denied there had been such discussions. “We did not open any discussions on this. You're likely to see a lot of speculation as the company moves ahead with its IPO plans.”

From the grid core aspect of the response, they deny Intel's $30 billion acquisition news, whether it is really unaware or can not admit. However, it has also been reported that Intel's acquisition is likely to cross the grid core company and the parent company - the United Arab Emirates Mubadala Investment Fund (UAE) to talk, The latter burned tens of billions of dollars on grid cores.

But the focus of Mubadala is still to push Grid Core to go public according to established plans, people familiar with the matter said.

Intel 300000000000 US dollars to acquire Grid Core has a great impact, not only will reshape the global wafer foundry market pattern, For AMD is also at stake, grid core is still their important long-term OEM partner, if bought by Intel, the relationship will be somewhat troubled.

NH Investment & Securities analysts said the grid core could still be attractive to Intel despite its lack of up-to-date production processes, Business Korea reported. In the long-term development of the company, Grid Core accumulated a wide range of customers, IP and technology patents, which created a high asset value for its. For potential deals, these factors are as important as production processes, the agency argues.

Also, given that Intel's corporate culture and customer relationships revolve around its dominance of the PC and server CPU markets, it would be difficult for the company to re-enter the foundry space if it relied solely on process technology. The combination of Grid Core's assets and Intel's production processes will provide the necessary synergies for the foundry market.

The agency noted, however, that if the deal is finalized, competition in the foundry industry will become more intense, affecting incumbents such as Samsung and TSMC.

As for the expansion news, the grid cores are still in place a day early Official Account message template On sold a customs son, let a person think will announce and Intel, we did not expect to wait for the announcement of a new grid core brand and expansion of the news...

Grid Core said in its official news release that it will invest $10 million to immediately add 150,000 wafers a year to its existing Fab 8 fab to help solve the global chip shortage. Grid Core just moved its headquarters from California to New York earlier this year.

Later, Grid Core plans to build a new fab that will create more than 1,000 direct high-tech jobs and thousands of indirect jobs in the region, including high-paying construction jobs. According to Fab 8's successful investment model, Grid Core plans to fund new facilities through a public-private partnership that includes customer, federal and state investments. This additional capacity will meet growing demand for secure, feature-rich chips in high-growth markets including cars, 5G connectivity and the Internet of Things.

"There has been a chip shortage for 15 years." Thomas Caulfield said at the launch. These investments aimed at expanding Grid Core's U.S. manufacturing footprint are part of the company's broader global expansion plans, These include the recently announced new plant in Singapore and the planned $10 billion expansion of capacity in Germany, all to meet growing demand from customers worldwide.

Grid Core employs more than 15,000 people worldwide, 7,000 in the United States and nearly 3,000 at its headquarters in Malta, New York. Over the past decade, Grid Core has invested more than $15 billion in its Fab 8 plant to support innovation and increase production capacity.