Intel rumored to be interested in buying Globalfoundries

Intel is in talks to acquire Globalfoundries for roughly 30 billion dollars, the Wall Street Journal reports based on anonymous sources. A spokesperson for Globalfoundries denied that negotiations are taking place, but it’s possible that Intel is talking to Globalfoundries’ owner, the Mubadala investment fund. The WSJ doesn’t mention a reaction from Intel, but the company has refused comment to other media.

The rumored buy-out plan follows a radical overhaul that was announced by CEO Pat Gelsinger earlier this year. In an attempt to turn around the struggling company, Intel is opening the doors of its plants for external customers. It has also announced to invest in expanding production capacity worldwide. Globalfoundries operates fabs in Europe, the US and Asia.