Despite rumors

We just managed to confirm from our industry sources that a report by China Knowledge, here, that TSMC has already signed a foundry contract with the struggling chipmaker to make CPUs is not accurate.

TSMC and AMD did indeed sign an agreement, but TSMC will produce GPUs at 40nm, not CPUs. There is no such a thing as 40nm CPU and it was never planned but AMD does have a 40nm GPU codenamed RV870.

AMD still owns its FABs and it will stay like that at least for today. Asset light / smart is obviously something else.