Word is going around that GlobalFoundries is gearing up for a sale. DigiTimes writes a number of major changes made in 2018 spark speculation that Abu Dhabi's Advanced Technology Investment (ATIC), the foundry's majority shareholder, may be getting the firm ready for a sale:
Globalfoundries' recent moves have invited speculation that the US pure-play foundry may be looking for a buyer. Does Globalfoundries' majority shareholder, Abu Dhabi's Advanced Technology Investment (ATIC), intend to quit?
Globalfoundries had a number of major announcements in 2018. The company in June disclosed plans to trim its workforce by 5% for cost reasons, after the appointment of a new CEO in March. Later in the year, the foundry announced a halt to its 7nm and more advanced process technology R&D and also a revision to its JV strategy in China.
Founded in 2009 as AMD divested its manufacturing arm, GlobalFoundries is world's second-largest chipmaker.