In quite an unexpected turn of events, Intel on Tuesday announced that its foundry division would produce chips for contract chip maker Tower Semiconductor. Tower was a previous acquisition target for Intel, with that deal unraveling just a few weeks ago due to a lack of regulatory approval from China. But, as it would seem, despite the failure of the acquisition, it seems that Intel and Tower will be working together after all – just with Intel doing fab work for Tower. Under the new deal, Intel will make chips for Tower's customers at its Fab 11X in Rio Rancho, New Mexico, which is one of Intel's leading-edge fabs. Based on the agreement's conditions, Intel Foundry Services will provide a 'new capacity corridor of over...

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