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: Amazon ups Ohio jobs to 1,000, begins collecting sales taxes

0 shares

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

The top 10 highest-paid female CEOs

May 29, 2015

Female CEOs are outpacing their male colleagues in pay, although they remain vastly outnumbered in the top echelons of American companies.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.