GlobalFoundries and Taiwanese chipmaker UMC mull potential merger, Nikkei reports

The news of a potential deal comes as the US seeks to strengthen its semiconductor supply chain amid rising geopolitical tensions in the Taiwan Strait and increasing competition from China in the mature chip market. GlobalFoundries has a market capitalisation of $20.40 billion, while UMC is currently valued at $16.90 billion, according to data compiled by LSEG.