Computers

GlobalFoundries Owner Eyes $20 Billion Valuation for IPO

Mubadala Investment Co. has started preparations for GlobalFoundries’ initial public offering (IPO), which is expected in late 2021. As chip demand is surging and the industry is suffering from shortages, GlobalFoundries’ business is expected to thrive.

Bloomberg reported this week that Mubadala has initiated talks with potential advisers about an IPO of GlobalFoundries in the U.S., eyeing a $20 billion valuation. The sovereign investment fund has not yet selected underwriters for the listing, which isn’t surprising as it previously targeted a 2022 IP — more than a year away. But that timeframe could be pushed forward. The discussions are private, so neither Mubadala nor GlobalFoundries have confirmed the report. 


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