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GlobalFoundries Inc. sued International Business Machines Corp. for misappropriation of trade secrets.
The lawsuit, filed in federal court in New York, alleges that after IBM sold its chip business to GlobalFoundries in 2015, IBM illegally sold GlobalFoundries’ intellectual property to its partners, including Intel Corp. and Japanese state-owned chip maker Rapidus. It claims to have disclosed
Semiconductor company GlobalFoundries, which has been co-developing the technology in question for decades in Albany, New York, said it has sole and exclusive rights to license and disclose the technology as part of the 2015 sale. said that
A screen displaying the company logo of semiconductor and chip maker GlobalFoundries Inc. during its IPO at the Nasdaq MarketSite in Times Square, New York City, USA, October 28, 2021. REUTERS/Brendan McDermid (Reuters photo)
GlobalFoundries claims that by disclosing this technology to its partners, IBM unfairly received hundreds of millions of dollars in licensing revenue and other benefits.
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The Malta- and New York-based company said it is seeking compensatory and punitive damages, along with an injunction, to prevent further alleged misappropriation of trade secrets.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| GFS | Globalfoundries Co., Ltd. | 63.98 | -1.14 | -1.75% |
| IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 126.30 | -1.46 | -1.14% |
| INTC | Intel Corporation | 31.15 | -0.68 | -2.14% |
GlobalFoundries also alleges that IBM is targeting engineering talent at its Albany manufacturing facility, halting those hiring purportedly increased after IBM and Rapidus entered into a manufacturing partnership in December. I am asking the court to do so.
In a statement, IBM said in a statement that it is responding to an adverse court ruling received by GlobalFoundries in another fraud and breach of contract lawsuit filed by IBM in 2021 in connection with the sale of its chip business in 2015. said it was pointless and had been sued.
A man stands near the IBM logo during the Mobile World Congress in Barcelona, Spain on February 25, 2019. REUTERS/Sergio Perez//File Photo (Reuters photo)
“Their allegations are completely baseless and we are confident the court will agree,” IBM said.
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A spokesperson for GlobalFoundries refuted the allegations on Wednesday, saying the two lawsuits were unrelated.
A view of the PsiQuantum Wafer, a silicon wafer containing thousands of quantum devices, including single-photon detectors, manufactured through PsiQuantum’s partnership with GlobalFoundries in Palo Alto, California, USA. Undated photo taken at Marc
“This is something completely different,” said Chief Communications Officer Laurie Kelly. “This is no big deal.”
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In 2014, IBM agreed to pay GlobalFoundries $1.5 billion to take over the technology company’s unprofitable chip business. Once a pioneer in semiconductor technology, IBM lagged behind others in mass-producing chips.
IBM Senior Vice President and Director of Research Dario Gill and IBM Fellow and VP of Quantum Computing Jay Gambetta hold the 433-qubit IBM Osprey chip while IBM Fellow and Director of Quantum Infrastructure Jerry Chow poses. I am taking pictures.
Most of IBM’s chip manufacturing facilities are in New York state, giving New York-based GlobalFoundries, which is owned by the investment arm of the Abu Dhabi government, a geographic advantage over other bidders to build these businesses. take over the
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The chip industry, which was booming during the pandemic at the intersection of supply shortages and surges in demand, has retreated over the past year as fears of a potential recession led to austerity across the tech sector. bottom.
Intel, which was considering a potential $30 billion acquisition of GlobalFoundries in 2021, cut its quarterly dividend by two-thirds in February.
