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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags AMD

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

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?