L&T Semiconductor Technologies and IBM have announced a strategic collaboration on processor technology innovations. The announcement was made at the SEMICON India 2024 event, with the partnership set to focus on designing advanced processors for sectors including automotive, energy, and industrial.

What Happened: The partnership could potentially extend to processor design for edge devices, hybrid cloud systems, and sectors such as mobility, industrial, energy, and servers.

The collaboration is expected to concentrate on innovation, functionality, and performance to enable reliable, secure, and scalable computing for a range of applications. This initiative aligns with India’s ambition to create globally competitive semiconductor technologies.

See Also: Apple In Talks With Micron, Tata Group To Secure India-Made Chips For Locally Made iPhones

Shares of Larsen and Toubro, the parent company of L&T Semiconductor Technologies jumped up as soon as the announcement made headlines.

“This is one of the most exciting times in the history of technology, specifically India's semiconductor tech ecosystem…The goal of our work with IBM is to harness our cutting-edge semiconductor design technology and IBM's advanced processors to forge next-gen technology products," said Sandeep Kumar, CEO, L&T Semiconductor Technologies.

This collaboration comes on the heels of L&T Semiconductor Technologies Limited’s acquisition of a 100% stake in SiliConch Systems Private Limited, a move aimed at enhancing the group’s presence in the fabless semiconductor business. The acquisition, which was announced in July 2024, added IP, engineering skillsets, and design expertise to L&T Semiconductor Technologies Limited’s portfolio, aligning with its overall growth strategy.

Price Action: L&T’s share price was up 1.14% to trade at ₹3,619.15 in the afternoon hours of trading on Tuesday.

Read Next: Bihar-Born Tata Veteran Offloads Entire Stake In Tata Sons After Spending Nearly 4 Decades At The Company