Intel inches closer to completing its acquisition of Tower Semiconductor

More From Author

See more articles

Full Form IT in 2025: What are the best...

Full Form IT: The Best Guide IT stands for information technology in its entire form. Computers are utilised...

Full Form of ITI: What does it mean in...

Full Form of ITI: Here's everything to know about ITI Full Form of ITI: ITI is an abbreviation...

Full Form of DSLR: What is it and how...

Full Form of DSLR - Why is it so special? Full Form of DSLR: DSLR is an abbreviation...

According to a source familiar with the situation, Intel Corp is close to buying Israeli firm Tower Semiconductor for roughly $6 billion, as the US company aims to extend its strategy of contract manufacturing chips for other companies.

The person indicated on Monday that a deal might be announced as soon as this week, but declined to be identified since the topic was confidential. The acquisition would strengthen Intel’s position in a market dominated by Taiwan’s TSMC, the world’s largest contract chipmaker. It also comes at a time when a global semiconductor shortage is causing delays in the production of everything from smartphones to automobiles.

Tower Semiconductor specialises in analogue circuits used in the automotive, mobile, medical, and aerospace industries, and its U.S. shares rose 53 per cent in extended trade. As of Monday’s end, it had a market capitalization of $3.6 billion.

Last month, the American chipmaker announced plans to invest up to $100 billion in Ohio to develop what may be the world’s largest chip-making complex. The strategy aims to reclaim Intel’s chipmaking dominance while also reducing America’s reliance on Asian manufacturing centres.

According to a Wall Street Journal report from July, Intel was considering buying GlobalFoundries for around $30 billion, but the chipmaker went public a few months later.

Because chipmaking is both costly and complicated, most companies either develop or manufacture their products. To distribute expenses, Intel has opened its manufacturing to competing chip designers.

also read:

Alienware finally reveals the price updates for its AW3423DW 34-inch QD-OLED monitor

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

━ Related News

Featured

━ Latest News

Featured