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Mubadala-backed GlobalFoundries buys new semiconductor tech

Globalfoundries says the gallium nitride technology will boost power in electric vehicles, among other applications Unsplash/Michael Fousert
GlobalFoundries says the gallium nitride technology will boost power in electric vehicles, among other applications
  • GlobalFoundries buys Tagore tech
  • Faster with lower energy consumption
  • Mubadala a major sharedholder

Chipmaker GlobalFoundries, backed by Abu Dhabi’s Mubadala Investment Company, has bought the rights to a new technology to boost power in electric vehicles, artificial intelligence and data centres.

It bought the gallium nitride (GaN) technology from semiconductor company Tagore Technology for an undisclosed sum.

The acquisition includes a team of Tagore engineers with expertise in GaN technology, which offers faster performance and lower energy consumption than traditional silicon chips.



Tagore has design centres in Illinois in the US and Kolkata in India.

Its co-founder and chief operating officer Amitava Das said the team of engineers “will help address power design challenges and support the continued evolution of automotive, industrial and AI datacenter power delivery systems”.

US-based GlobalFoundries received a $1.5 billion funding boost under the country’s CHIPS and Science Act, passed in 2022 to allocate around $280 billion to semiconductor research and production.

Part of these funds are allocated for high-volume GaN production, potentially securing a domestic supply chain for critical technologies.

GlobalFoundries’ first-quarter revenue dipped to $1.55 billion from $1.85 billion year-over-year. Net income dropped to $134 million from $278 million.

The company’s current valuation is $30 billion.

Mubadala is a major shareholder in GlobalFoundries but offloaded $950 million worth of shares in May, raising questions about the investment firm’s long-term commitment to the chipmaker. 

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