When AMD sold off its digital TV unit this summer, Chief Dirk Meyer said the move was the beginning of a plan to return the chip maker to “sustainable profitability”. In a continuing effort to reduce expenses, the company has announced a deal with investors in Abu Dhabi to spin off its fabs in a new joint venture. It’s hoped the deal will let AMD focus more closely on design and development while saving precious cash as it continues to recover from the Barcelona debacle and the ensuing financial fall-out. Mubadala Development Company will invest $314 Million in the venture, doubling it’s current holdings in AMD to over 19 percent. A second investment group, Advanced Technology Investment Company will put in over $1Billion to cover some of AMD’s existing debt.
AMD To Spin Off Factories Aiming For "Sustainable Profitability"
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