GlobalFoundries, IBM Settle Lawsuits
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lawsuitsReuters
•IBM, GlobalFoundries settle lawsuits over contract, trade secrets
80% Informative
IBM sued GlobalFoundries in 2021 for allegedly breaking a $1.5 billion contract to make high-performance chips for IBM .
The chipmaker also sued IBM in federal court in 2023 for allegedly misappropriating its trade secrets.
The companies said in a joint statement that the terms of the settlement were confidential.
The settlement would allow them to "explore new opportunities for collaboration".
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