aug 18 reuters  globalfoundries inc has filed confidentially with us regulators for an initial public offering ipo in new york that could value the chipmaker at around 25 billion people familiar with the matter said on wednesday the move is the clearest sign yet that globalfoundries which is owned by abu dhabi’s sovereign wealth fund mubadala investment co is not eager to accept a potential tieup with intel corp which the wall street journal reported last month was in talks to acquire the us chipmaker globalfoundries is working with morgan stanley bank of america corp jpmorgan chase  co citigroup inc and credit suisse group ag on the ipo preparations the sources said globalfoundries is expected to reveal its ipo filing in october and go public by the end of the year or early next year depending on how quickly its application is processed by the us securities and exchange commission sec the sources said the sources who requested anonymity because the deliberations are confidential cautioned that the chipmaker’s plans were subject to market conditions and that the timing could change intel has yet to make a formal offer for globalfoundries and may not do so according to the sources globalfoundries is concerned that such a combination would upset some of its key customers that compete with intel such as advanced micro devices inc the sources said it could also face intense antitrust scrutiny from us president joe biden’s administration which has become more hostile to transformative mergers the sources added mubadala globalfoundries and intel declined to comment the banks the sec advanced micro devices and the white house did not immediately respond to requests for comment globalfoundries’ ipo filing comes amid a boom in capital markets with other highprofile names such as robinhood markets inc coinbase global and roblox corp already taking advantage with public listings this year globalfoundries manufactures radiofrequency communications chips for 5g automotive and other specialized semiconductors and has emerged as a major resource for companies such as intel and advanced micro devices that have outsourced parts of their chip production it was created when advanced micro devices spun off its manufacturing facilities in 2009 and mubadala later merged it with singapore’s chartered semiconductor manufacturing ltd globalfoundries ceo tom caulfield told reuters in july the chipmaker was planning to go public in 2022 the chipmaker has pledged to boost output to meet robust demand and announced plans to build a second factory near its malta new york headquarters to address the global chip shortage reporting by anirban sen in bengaluru and krystal hu in new york additional reporting by stephen nellis in san francisco editing by matthew lewis