Intel Forges Foundry Chip Collaboration With This TSMC Partner After Qualcomm, Amazon

Intel Corp INTC and Media Tek Inc MDTKF collaborated to manufacture chips using Intel Foundry Services' (IFS) advanced process technologies.
Intel said the first products would be manufactured in the next 18- to 24- month period and will be in a more mature technology process called Intel 16, with the chips used for smart devices, Reuters reports.
In addition to maintaining a close partnership with Taiwan Semiconductor Manufacturing Co Ltd TSM in advanced process nodes, this collaboration will enhance MediaTek's supply for mature process nodes.
The alliance aimed to help MediaTek build a more balanced, resilient supply chain by adding a new foundry partner with significant capacity in the U.S. and Europe.
MediaTek looks to use Intel process technologies to manufacture multiple chips for various smart edge devices.
IFS offers a broad manufacturing platform with technologies optimized for high performance, low power, and always-on connectivity.
Intel previously disclosed foundry business collaborations with Qualcomm Inc QCOM and Amazon.com Inc AMZN.
Qualcomm used Intel's new transistor technology to reduce chips' power consumption. Amazon used Intel's packaging technology.
Price Action: INTC shares traded lower by 0.94% at $38.83 on the last check Monday.