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Investing.com -- GlobalFoundries (NASDAQ:GFS) stock jumped 5.9% Tuesday after the semiconductor manufacturer announced a definitive agreement to acquire MIPS, a supplier of AI and processor intellectual property.
The acquisition will expand GlobalFoundries’ portfolio of customizable IP offerings and aims to enhance its process technologies with IP and software capabilities. The deal includes MIPS’ RISC-V processor IP and software tools designed for real-time computing applications in autonomous mobility, industrial automation, datacenter and intelligent edge markets.
"MIPS brings a strong heritage of delivering efficient, scalable compute IP tailored for performance-critical applications, which strategically aligns with the evolving demands of AI platforms across diverse markets," said Niels Anderskouv, president and chief operating officer at GlobalFoundries.
MIPS recently launched its Atlas portfolio, a suite of compute cores for real-time processing and AI edge applications, along with Atlas Explorer, a virtual platform for performance optimization. Following the acquisition, MIPS will continue operating as a standalone business within GlobalFoundries.
MIPS CEO Sameer Wasson noted that joining GlobalFoundries "marks the start of a bold new chapter for MIPS" and will enhance the company’s ability to accelerate innovation and scale solutions.
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to complete in the second half of 2025. MIPS has operated for 40 years in RISC computing innovation and specializes in processor technology based on the open RISC-V instruction set architecture.
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