IBM to pay Globalfoundries $1.5B for chip arm: WSJ

A sign marks the entrance to IBM Corporate Headquarters in Armonk, New York.
Stan Honda | AFP | Getty Images

IBM is to hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries, The Wall Street Journal reports.

The U.S. tech giant will pay Globalfoundries $1.5 billion to take the chip operations off its hands, sources close to the matter told the WSJ.

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