GlobalFounderies was created as an AMD spin off back in 2008, but now it is not controlled by Team Red anymore. Nevertheless, AMD is still an important customer, and the two companies already signed a $1.6 billion multiyear deal for chip component supplies earlier this year, so the Intel deal might not be easily attainable.
https://www.notebookcheck.net/Intel-rumored-to-acquire-GlobalFoundries-for-30-billion.551312.0.html
I don't foresee Gelsinger separating manufacturing in a way that would clear a conflict of interest (that would essentially involve giving up control). The unique position they are in where they control their manufacturing to a much larger degree than their competitors has given them an advantage in this latest shortage. Also, it wouldn't solve their problem. Sure, they could get rid of their troubled manufacturing side, wash their hands, but what then? Join a queue at TSMC?
No. Way.
It's just gonna go like the (botched) Xerox-HP deal though, right?