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GlobalFoundries The slotxo semiconductor maker on Monday sued. International Business Machines Corp (UN.N) asked a judge to rule that it had not breached its contract with the U.S. company, which it claims it owes $2.5 billion in damages.IBM accused GlobalFoundries of The company, which is owned by Abu Dhabi state fund Mubadala, has failed to continue producing chips for IBM, according to a GlobalFoundries complaint. to the state court in New York.
GlobalFoundries It bought IBM's semiconductor factory in 2014 when IBM decided to leave its own chip manufacturing business. But it gave up its pursuit of advanced chip manufacturing technology in 2018 due to high development costs, and IBM turned to Samsung Electronics Co Ltd (005930.KS) to make chips instead.IBM has been "silent for nearly two and a half years" after the changes in 2018, but in April this year it sent a letter to. GlobalFoundries Alleging that the chipmaker violated the contract,” the filing states.
Aside from threatening to sue unless it succumbs to the demands, IBM has yet to provide a critical explanation of its claims.” write in this case IBM said in a statement that it believes GlobalFoundries Failure to comply with obligations under the contract IBM donated $1.5 billion to Global Foundries to provide next-generation chips, and Global Foundries abandoned IBM as soon as it received its final payment and sold assets from the deal to increase its own value. |
