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Intel acquires Tower Semiconductor for $5.4 billion to increase chip production

By Roland Udvarlaki February 16, 2022, 11:00 am
Intel logo Source: Pocketnow

Intel just announced that it will acquire Tower Semiconductor for $5.4 billion. Tower Semiconductor is a leading foundry for analog semiconductor solutions, and the new deal aims to help Intel manage and increase its chip production to meet the ever-growing demand and chip shortages.

In the press release, Intel said that acquisition would advance its IDM 2.0 strategy and expand its manufacturing capacity globally.

“The acquisition significantly advances Intel’s IDM 2.0 strategy as the company further expands its manufacturing capacity, global footprint and technology portfolio to address unprecedented industry demand.”

Tower has specialized in building relationships and service-first operations that will help Intel scale its foundry and improve its services. Tower’s technologies will advance Intel chips and the manufacturing process, and increase the capacity to meet the “unprecedented demand.”

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“Tower’s specialty technology portfolio, geographic reach, deep customer relationships and services-first operations will help scale Intel’s foundry services and advance our goal of becoming a major provider of foundry capacity globally, [...] This deal will enable Intel to offer a compelling breadth of leading-edge nodes and differentiated specialty technologies on mature nodes – unlocking new opportunities for existing and future customers in an era of unprecedented demand for semiconductors,” said Pat Gelsinger, Intel CEO.

Intel has invested billions of dollars in semiconductor businesses, and it announced that it would soon spend more than $20 billion in the largest semiconductor site in the world in Ohio. Intel will make thousands of new jobs, and the new site will allow it to meet the growing demand and develop and research new chips. Intel also launched its first-ever crypto mining chipset just a few days ago, joining the crypto race alongside other manufacturers such as NVIDIA.

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