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Remember that IBM paid Global Foundries $1.5 billion to take their fabs and design services group.

GF did not pay IBM. IBM paid GF to take the fabs away.

It was 15 years ago. Whole management got replaced, they are quite ambitious. Let's see if how this works out now.

The plan doesn't involve running fabs again. Too expensive. IBM licenses their manufacturing technology (so far to Rapidus in Japan).