According to media reports, ATIC, a subsidiary of the United Arab Emirates Mubadala Investment Fund, which owns 90% of Globalfoundries’ stake, is looking for potential buyers for Globalfoundries.
Globalfoundries, the world's second-largest chip foundry, recently announced plans to abolish the 7nm process and plan to use all resources for 14nm/12nm FinFET and FD-SOI processes. Insiders have shown that the Globalfoundries’ move represents that it has focused its future direction on profitability rather than cutting-edge technology development. It joins the ranks of UMC, SMIC, and TowerJazz, becoming a profitable factory and maintaining a leading position among competitors.
Although the current 14nm/12nm market is very large, ATIC is concerned about the adjustment of Globalfoundries' market strategy. The main concern is that Globalfoundries will lose its market leading position as technology moves toward. For this reason, ATIC is looking for potential buyers. There are also insiders who say that ATIC wants to sell it before the value of GlobalFoundries falls.