GlobalFoundries complained that IBM had shared IP and trade secrets with Rapidus, a new state-backed Japanese consortium that IBM is working with to develop and produce cutting-edge two-nanometre chips.

It claimed IBM had unlawfully disclosed and misused its IP with Intel, noting that IBM had announced in 2021 it would collaborate with Intel on next-generation chip technology.

"IBM is unjustly receiving potentially hundreds of millions of dollars in licensing income and other benefits," GlobalFoundries said in a statement.

IBM emailed Reuters, saying: "GlobalFoundries filed this meritless lawsuit after a court rejected the company's attempt to dismiss IBM's legitimate fraud and breach of contract claims. Their allegations are entirely baseless, and we are confident the court will agree."