Intel looks to buy AMD's spun-off unit for $30 billion: Report

Closely held GlobalFoundries, controlled by Abu Dhabi's sovereign fund Mubadala Investment, could be valued at about $30 billion, the Wall Street Journal reported

Intel is exploring a deal to acquire semiconductor manufacturer GlobalFoundries, the Wall Street Journal reported, citing people familiar with the matter.

Closely held GlobalFoundries, controlled by Abu Dhabi’s sovereign fund Mubadala Investment, could be valued at about $30 billion, the Journal reported. The deal isn’t guaranteed and GlobalFoundries —  which came into being as a result of Intel rival AMD’s decision to spin off its own semiconductor manufacturing business back in 2009 — may continue to pursue an initial public offering, the paper said, adding that the talks don’t appear to include GlobalFoundries itself. A spokesperson for Santa Clara, California-based Intel