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Advanced Technology Investment Co (ATIC) of Abu Dhabi will be the major stakeholder in the new manufacturing firm,provisionally to be called "The Foundary Company".with a 55.6 per cent share of the venture.AMD,based in Sunnyvale,California,will own the rest.ATIC will invest 2.1 billion dollars to purchase its stake in The Foundary Company,of which it will invest 1.4 billion directly in the new entity,the statement said.
Friday, November 7, 2008
Advanced Micro Devices (AMD),the number two US computer chip maker,announced last month that it was splitting into two companies after receiving a huge infusion of capital from two Abu Dhabi investment firms.AMD,which has been struggling to keep up with market leader Inter Corp,said in statement that the move would result in one company that designs semiconductors and another which builds them.
Advanced Technology Investment Co (ATIC) of Abu Dhabi will be the major stakeholder in the new manufacturing firm,provisionally to be called "The Foundary Company".with a 55.6 per cent share of the venture.AMD,based in Sunnyvale,California,will own the rest.ATIC will invest 2.1 billion dollars to purchase its stake in The Foundary Company,of which it will invest 1.4 billion directly in the new entity,the statement said.
Advanced Technology Investment Co (ATIC) of Abu Dhabi will be the major stakeholder in the new manufacturing firm,provisionally to be called "The Foundary Company".with a 55.6 per cent share of the venture.AMD,based in Sunnyvale,California,will own the rest.ATIC will invest 2.1 billion dollars to purchase its stake in The Foundary Company,of which it will invest 1.4 billion directly in the new entity,the statement said.
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