IBM, GlobalFoundries settle lawsuits over contract, trade secrets
IBM, GlobalFoundries settle lawsuits over contract, trade secrets
On Thursday, GlobalFoundries and IBM announced that they had achieved a settlement in their legal battles, which claimed that GlobalFoundries had broken a contract with IBM and that the computer giant had improperly used the chip makers trade secrets.
The settlement's terms, according to a joint statement from the corporations, were private and would enable them to "explore new opportunities for collaboration.
" In 2015, IBM's semiconductor factories were acquired by GlobalFoundries. For allegedly breaching a $1.5 billion contract to produce high-performance semiconductors for IBM, IBM filed a lawsuit against the Malta, New York-based corporation in New York state court in 2021.
In 2023, GlobalFoundries, primarily owned by Abu Dhabi's sovereign wealth fund Mubadala, filed a separate lawsuit against IBM in a federal court in New York for allegedly stealing its trade secrets for chipmaking and disclosing them to Intel and the Japanese consortium Rapidus while collaborating with both businesses.
Rapidus and Intel spokespeople did not immediately reply to inquiries about the settlement. In November, the U.S. Commerce Department gave GlobalFoundries a $1.5 billion contract to increase its semiconductor manufacturing in Vermont and New York.
No comments