Featured Articles

IDC says PC market is rebounding

IDC says PC market is rebounding

Research firm IDC has published its latest report into the state of the PC market and while there are some signs…

More...
TSMC steps up development of 10nm process

TSMC steps up development of 10nm process

TSMC, the world’s biggest chip foundry for hire, has reportedly stepped up development of its 10nm manufacturing process.

More...
Broadwell 14nm desktop comes late in Q2 2015

Broadwell 14nm desktop comes late in Q2 2015

A while ago we mentioned that Broadwell won’t show up in the desktop space this year and we got it right.…

More...
AMD A8-7600 Kaveri APU reviewed

AMD A8-7600 Kaveri APU reviewed

Today we'll take a closer look at AMD's A8-7600 APU Kaveri APU, more specifically we'll examine the GPU performance you can…

More...
EVGA GTX 780 Classified reviewed

EVGA GTX 780 Classified reviewed

The EVGA GTX 780 Classified has been dethroned as the company’s fastest non-Titan card following the introduction of the GTX 780…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 07 January 2009 12:58

AMD gets official nod for Abu Dhabi joint venture

Written by Nick Farell


Image

US says OK

 

AMD has received an approval from US authorities for a joint venture with capital from two Abu Dhabi investment firms. The cash will be used to help it compete against Intel and the US authorities were a bit worried about the security implications of giving so much technical detail to an Arab country.

In the end the plan was cleared by the Committee on Foreign Investment in the United States (CFIUS). The venture is with the Advanced Technology Investment Company (ATIC), a firm owned by the government of Abu Dhabi. ATIC will own a 55.6 percent share of the venture.

The deal means that AMD through its joint outfit "The Foundry Company" will keep its  manufacturing facilities in Dresden, Germany with plans to expand that site as well as build a state-of-the art facility in Saratoga County, New York. The Foundry Company will be based in Silicon Valley, and its research and development and manufacturing teams in New York, Dresden, and Austin, Texas.

Another Abu Dhabi investment firm, the Mubadala Development will increase its investment in AMD to 19.3 percent from the current 8.1 percent through the purchase of shares and warrants worth 314 million US dollars.

Nick Farell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments