A $3-billion agreement was signed by chip consortium ISMC with government of Karnataka to set up a semiconductor manufacturing fab in the state, officials said on Sunday to team Ignited Minds. ISMC is a consortium of Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor. Tower Semiconductor is now the part of USA based Semiconductor giant Intel. This is the first commercial fab to be setup in independent Bharat of an advanced node.
ISMC is a joint venture between Abu Dhabi-based Next Orbit Ventures and Israel’s Tower Semiconductor. Tower is currently being acquired by US chip giant Intel Corp.