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Intel Bags Deal To Develop Government's Foundry Ecosystem

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  • Intel Corp (NASDAQ: INTC) won an opportunity from the U.S. Department of Defense to provide commercial foundry services in the first phase of the multi-phase Rapid Assured Microelectronics Prototypes - Commercial (RAMP-C) program.

  • Intel Foundry Services will lead the work. The financial terms of the deal remain undisclosed.

  • Intel Foundry Services will partner with companies including International Business Machines Corp (NYSE: IBM), Cadence Design Systems Inc (NASDAQ: CDNS), Synopsys Inc (NASDAQ: SNPS). The partnership aims to support the U.S. government's designing and manufacturing assured integrated circuit needs.

  • Intel Foundry Services President Randhir Thakur said that the RAMP-C program would drive commercial foundry customers and the DoD to tap Intel's investments in leading-edge process technologies.

  • Intel's customers and ecosystem partners will help bolster the domestic semiconductor supply chain and ensure U.S. maintains leadership in R&D and advanced manufacturing.

  • The initiative assumes significance as the U.S. aims to ramp up domestic chip production amid an intense chip crisis.

  • Intel raised its FY21 outlook following Q2 revenue, earnings, and margin beat.

  • Price Action: INTC shares traded higher by 0.69% at $52.37 in the premarket session on the last check Monday.

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