After announcing the deal last year, Intel will no longer acquire Tower Semiconductor for $5.4 billion..
its foundry services as a separate business unit back in 2021, committing $20 billion to build two Arizona factories. It also revealed plans to build a massive semiconductor facility in Ohio designed to become"the largest silicon manufacturing location on the planet."
Intel said its still executing its roadmap"to retain transistor performance and power performance leadership by 2025," with the aim of becoming the second-largest global external foundry by 2030."Our respect for Tower has only grown through this process, and we will continue to look for opportunities to work together in the future." As part of its merger agreement, Intel will pay a termination fee of $353 million to Tower.
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