ATIC buying more of global foundries

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Abu Dhabi conglomerate ATIC (the Advanced Technology Investment Company) has announced plans to take its stake in Globalfoundries, a microchip developer, from 87% to over 90%.  Globalfoundries already had plans to open a new plant near the Abu Dhabi airport, estimated to cost between $6 and $8 billion.  Construction is expected to begin later this year.  ATIC’s initial investment in Globalfoundries was around $2.1 billion for a 65% stake, which it then increased to the current 87%.  The amount of the additional stake is unclear.

 

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Reading Time: 1 minute

Abu Dhabi conglomerate ATIC (the Advanced Technology Investment Company) has announced plans to take its stake in Globalfoundries, a microchip developer, from 87% to over 90%.  Globalfoundries already had plans to open a new plant near the Abu Dhabi airport, estimated to cost between $6 and $8 billion.  Construction is expected to begin later this year.  ATIC’s initial investment in Globalfoundries was around $2.1 billion for a 65% stake, which it then increased to the current 87%.  The amount of the additional stake is unclear.

Reading Time: 1 minute

Abu Dhabi conglomerate ATIC (the Advanced Technology Investment Company) has announced plans to take its stake in Globalfoundries, a microchip developer, from 87% to over 90%.  Globalfoundries already had plans to open a new plant near the Abu Dhabi airport, estimated to cost between $6 and $8 billion.  Construction is expected to begin later this year.  ATIC’s initial investment in Globalfoundries was around $2.1 billion for a 65% stake, which it then increased to the current 87%.  The amount of the additional stake is unclear.

 

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