IBM Corp announced yesterday that they will invest $150 million in India Semiconductor Manufacturing Company, giving the computer giant a 24 percent stake in the up-and-coming wafer fabricator. The company will set up shop in the southern city of Hyderabad, which is best known for software development, but actually already has one small fab owned by Teamasia Lakhi Semiconductors. The plant, a product of South Korea’s Intellect Inc, will be mass-producing 30,000 wafers a month starting July 2006.

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