Intel Bags Deal To Develop Government's Foundry Ecosystem

Intel Corp 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 IBM, Cadence Design Systems Inc CDNS, Synopsys Inc 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.