Intel shelves plan to take over GlobalFoundries’ abandoned chip plant in Chengdu, sources say

Source: Tech – South China Morning PostUS semiconductor giant Intel Corp was poised to expand its operations in China by taking over the abandoned joint venture factory of GlobalFoundries in the southwestern city of Chengdu, but that plan has been shelved, according to two people familiar with the matter.The deal, part of what the people described as “secret projects” inside Intel, could have revived one of China’s major foreign-invested semiconductor projects, for which the Chengdu government rolled out the red carpet in 2017.The…Read More

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