IBM and GlobalFoundries have reached a settlement after years of legal battles, ending years of litigation over allegations of breach of contract and misappropriation of trade secrets.
The companies announced the settlement in a joint statement and said the terms of the agreement are confidential. The companies said in a joint statement that the terms of the settlement are confidential and will allow them to “explore new opportunities for cooperation.”
However, the settlement resolves all outstanding litigation between the parties, including claims related to a 2021 lawsuit brought by IBM alleging that GlobalFoundries breached a $1.5 billion contract to manufacture high-performance chips. Ru.
GlobalFoundries countersued IBM in 2023, accusing the tech giant of misusing chip-making trade secrets and sharing them with Intel and Japanese consortium Rapidus.
The settlement ends a contentious legal saga that has affected the semiconductor industry. Both companies expressed satisfaction with the results and expressed their willingness to explore possibilities for future cooperation.
