Diabytes
IBM Corp News
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Shares of the company, whose competitors include IBM Corp and India's Infosys Ltd and Tata Consultancy Services, were up 2.1 percent in premarket trading.
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IBM will pay Globalfoundries $1.5 billion in cash over the next three years to take the chip operations off its hands, the companies said in a statement on Monday.
The closing purchase price is lower than the $2.3 billion valuation announced in January.
Unlike most chips, which operate on pre written paths, IBM`s version processes data in realtime and is capable of dealing with ambiguity, the company said. It runs on the energy equivalent of a hearing aid.
Shares of Facebook Inc hit a record high on Thursday after a surge in mobile advertising revenue helped the world`s No. 1 social network trounce analysts` expectations for quarterly profit and revenue.
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