For those who came in late, Chipzilla has been in a spot of bother, and sharks have been circulating to see if they can buy it cheap. The latest suiter for what is left of Intel’s reputation is GloFo.
Those of us who were around at the time know that GlobalFoundries (GloFo) was established in March 2009 when AMD, facing financial struggles, spun off its manufacturing division to go fabless.
This was a good idea at the time because it allowed AMD to remain competitive in the semiconductor industry. Over time, GlobalFoundries grew into a major player in the foundry business, operating across the US, Europe, and Asia. It focused on speciality chips rather than competing at the cutting edge.
Under the leadership of Thomas Caulfield, who took over as CEO in 2018, GlobalFoundries adopted a strategy that positioned it as the third-largest semiconductor foundry by revenue. This trajectory culminated in its public listing in 2021.
According to the rumours, first reported by eeNews Europe, Caulfield may soon take the helm at Intel after an unexpected leadership transition at GlobalFoundries. Caulfield is set to move into an executive chairman role while Tim Breen, a long-serving company executive, takes over as CEO.
This change has prompted industry observers to question whether Caulfield could be preparing for a leadership position at Intel, which has been without a permanent CEO since Pat Gelsinger’s departure in December 2024.
Caulfield’s extensive background in semiconductor manufacturing has led to suggestions that instead of directly becoming Intel’s CEO, he might play a pivotal role in a merger between Intel and GlobalFoundries.
According to eeNews Europe, such a deal could see Caulfield appointed executive chairman of the combined entity, with Michelle Johnston Holthaus overseeing Intel’s product business and Breen managing GlobalFoundries’ integration into Intel Foundry.
This merger could benefit both companies, particularly as Intel has been struggling in recent years while AMD’s market performance has soared.
By merging with GlobalFoundries, Intel would gain access to a broader range of manufacturing capabilities, strengthening its position in the semiconductor sector.
eeNews Europe has also pointed to an unusual stock purchase of 8,913,000 Intel shares at $19.29—an acquisition made just two days before GlobalFoundries’ leadership changes were announced. Observers on Reddit have compared the $172 million stock incentive granted to Gelsinger when he assumed Intel’s top role in 2021.
Despite the potential advantages of a merger, regulatory hurdles could present a significant challenge. China, for example, previously blocked Intel’s attempt to acquire Tower Semiconductor, raising concerns that a GlobalFoundries-Intel merger could face similar obstacles.
eeNews Europe suggests an alternative scenario in which Caulfield becomes Intel’s CEO while maintaining a close relationship between the two companies.
