Abu Dhabi gets full ownership of chip manufacturer

Mar 05, 2012

(AP) -- A microchip manufacturer controlled by the Abu Dhabi government says it has reached an agreement to acquire a minority stake held by former owner Advanced Micro Devices.

The chip company, Milpitas, Calif.-based GlobalFoundries, said Monday that it would acquire AMD's share but retain the producer as a key customer.

GlobalFoundries said that the deal fulfills its ambition of becoming an independent foundry. A foundry typically manufacturers chips made to order for microchip producers such as AMD.

Financial details weren't immediately available.

GlobalFoundries was founded as a spin-off of AMD in 2009. Abu Dhabi's government-owned Advanced Technology Investment Company took a majority stake following the separation.

Explore further: HP revenue inches up after years of decline

not rated yet
add to favorites email to friend print save as pdf

Related Stories

US firm investing billions in crisis-hit chip industry

Apr 09, 2009

Despite the economic slump that has battered the semiconductor business, a new player from the United States' Silicon Valley technology belt is investing billions of dollars in a bid to catch the next wave ...

AMD whittles 2Q loss as chip sales rebound

Jul 15, 2010

(AP) -- Advanced Micro Devices Inc. shrank its second-quarter loss on reviving sales of computers that use its chips and a wrenching years-long effort to shed costs.

AMD stock sinks on profit-margin worries

Jul 21, 2009

(AP) -- Advanced Micro Devices Inc. narrowed its loss in the second quarter, though not by as much as Wall Street hoped. Its sales slumped 13 percent.

Recommended for you

HP revenue inches up after years of decline

12 hours ago

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

14 hours ago

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

Chip maker Infineon to buy California firm for $3B (Update)

17 hours ago

German chip maker Infineon Technologies AG says it has agreed to pay $3 billion in cash for California-based semiconductor firm International Rectifier, which produces power-management components used in everything from cars ...

User comments : 0