AMD foundry gets U.S. government OK

AMD announced that an arm of the US Treasury Department has approved its plan to create a separate foundry company with investment from Abu Dhabi.

An arm of the US Treasury Department has approved Advanced Micro Devices' plan to create a new foundry company with major investment from the government of Abu Dhabi.

AMD announced in October that it would spin off its chip-making operations into a separate company. Two investment funds owned by the government of Abu Dhabi said they'd contribute new capital to AMD and to the new foundry company.

On Tuesday, AMD announced that the Committee on Foreign Investment in the United States has cleared the creation of The Foundry Company, the company that will make chips. The CFIUS is an office within the Treasury Department that examines foreign investments in U.S. companies in part with an eye toward safeguarding national security.

The committee also determined that the Abu Dhabi fund's investment in AMD does not require review.

Last month, AMD and the Abu Dhabi investment funds renegotiated the terms of the agreement, likely due to AMD's plunging stock price. As a result, AMD will now own 34.2 percent of the foundry company, rather than 44.4 percent as originally planned. In addition, the Abu Dhabi investment firm will pay less per share for the 58 million shares it agreed to buy of AMD.

As of early December, AMD said it expects the deals to close at the beginning of this year.

Join the PC World newsletter!

Error: Please check your email address.

Tags AMD

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Nancy Gohring

IDG News Service
Show Comments

Essentials

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?