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No. GlobalFoundries did not ask the court to dismiss IBM’s lawsuit. It asked to strike IBM’s jury demand based on jury-waiver clauses in the companies’ agreements. The New York Supreme Court granted the motion, and the Appellate Division, First Department affirmed as to IBM’s fraudulent-inducement and promissory-estoppel claims. IBM and GlobalFoundries later settled all litigation matters in January 2025.
What did GlobalFoundries ask the court to do?
IBM sued GlobalFoundries U.S. Inc. in New York on June 8, 2021, bringing claims that included fraudulent inducement, breach of several agreements, and promissory estoppel. After discovery, IBM sought a jury trial. GlobalFoundries moved to strike that demand, arguing that the parties had agreed to waive jury trials in their contracts.
That was a procedural dispute about how covered claims would be tried—not a request to decide whether IBM’s claims were valid or to end the lawsuit. The court’s ruling did not itself dismiss IBM’s case.
What did the New York courts decide?
- May 2024: New York Supreme Court granted GlobalFoundries’ motion to strike IBM’s jury demand.
- December 19, 2024: The Appellate Division, First Department affirmed the order as to IBM’s fraudulent-inducement and promissory-estoppel claims. It concluded that the agreements’ broad jury waivers covered those claims. The court’s disposition stated: “Order, Supreme Court, New York County, entered May 14, 2024, affirmed, without costs.”
The appellate ruling concerned the jury demand for the claims identified in its decision. It should not be described as a dismissal of IBM’s lawsuit or as a ruling that every allegation in the broader dispute was true or false.
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What was the IBM–GlobalFoundries dispute about?
The appellate opinion says the companies discussed a collaborative venture from 2013 to June 2015. Their arrangement involved IBM transferring its microelectronics business—including technology, engineers, and employees—and money, while GlobalFoundries would develop, manufacture, and supply advanced semiconductor chips.
- $1.5 billion: The New York Supreme Court, Appellate Division, First Department’s 2024 opinion describes this as part of the money IBM was to transfer in the arrangement.
- $500 million: The same 2024 appellate opinion recounts IBM’s second installment, paid in December 2016.
- $250 million: The same 2024 appellate opinion recounts IBM’s third installment, paid in December 2017.
These are transaction figures described in the court’s account of the business agreements, not reported settlement payments. IBM alleged it would not have entered the arrangement without GlobalFoundries’ representation of a long-term strategic and financial commitment to high-performance chips. GlobalFoundries’ position was that the detailed written agreements set out the parties’ commitments; those competing positions should be treated as party arguments, not as findings established by the jury-demand ruling.
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How did the separate trade-secret dispute fit in?
In April 2023, GlobalFoundries separately announced that it had sued IBM, alleging trade-secret misappropriation. GlobalFoundries asserted that IBM disclosed its intellectual property and trade secrets to partners including Intel and Rapidus. Those were GlobalFoundries’ allegations in a separate action, not findings in the decision about IBM’s jury demand.
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Did IBM and GlobalFoundries settle?
Yes. On January 2, 2025, the companies announced that they had settled their ongoing lawsuits, resolving all litigation matters between them, including breach-of-contract, trade-secret, and intellectual-property claims. They said the settlement terms were confidential. The companies did not announce a settlement amount or an admission of wrongdoing in that announcement.
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