GlobalFoundries sues IBM, says trade secrets were unlawfully given to Japan's Rapidus

A screen displays the company logo for semiconductor and chipmaker GlobalFoundries Inc. during the company's IPO at the Nasdaq MarketSite in Times Square in New York City, U.S., October 28, 2021. REUTERS/Brendan McDermid

OAKLAND, California, (Reuters) -Chip manufacturer GlobalFoundries Inc said on Wednesday it had filed a lawsuit against International Business Machines Corp, accusing it of unlawfully sharing confidential intellectual property and trade secrets.

New York-based GlobalFoundries said in its complaint that IBM had shared IP and trade secrets with Rapidus, a new state-backed Japanese consortium that IBM is working with to develop and produce cutting-edge two-nanometre chips.