Chip Maker AMD Gets Emirate Cash

Abu Dhabi buys 8.1% stake in Intel rival for $622 million

By Laila Weir, Newser User

Posted Nov 16, 2007 4:39 PM CST

(Newser) – The government of Abu Dhabi, through its investment arm, bought an 8.1% stake in Advanced Micro Devices for $622 million. It will receive 49 million newly-issued AMD shares, but won't get any board representation. The computer chip maker desperately needs the cash after a $396 million loss during the third quarter, reports the Wall Street Journal.

Analysts gave the paper conflicting opinions on whether the money will make a long-term difference for the struggling Intel rival. But David Kirkpatrick predicts in Fortune that now AMD can "keep up its healthy annoyance of Intel" -- "pushing the boundaries of computing for all of our benefit" -- for at least awhile longer.

Advanced Micro Devices CEO Hector Ruiz is seen in this photo provided by AMD. (AP Photo/Advanced Micro Devices, ho) (Associated Press)

The new Opteron chip is seen in this photo released by Advanced Micro Devices Inc. AMD is hoping the new chip will help it reverse some of the embarrassing market-share losses it has endured over the... (Associated Press)

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Chip Maker AMD Gets Emirate Cash

Abu Dhabi buys 8.1% stake in Intel rival for $622 million

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Abu Dhabi buys 8.1% stake in Intel rival for $622 million

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OTHER STORIES ON OUR RADAR

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Silicon Valley • Intel • finance • Abu Dhabi • computer chip • Advanced Micro Devices • microprocessors

MOST POPULAR STORIES

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FTC Opens Antitrust Investigation of Intel

Smaller rival AMD has long accused it of unfair practices

Piles of Evidence Delay Intel Antitrust Trial

AMD has accused Intel of banned business moves

Intel, Microsoft Fund Multicore Research

Future products call for chips with many more microprocessors

Intel Pushes 'Atom' Chips

Tiny microprocessors are intended for mobile Internet devices and low-end computers

Intel Makes Smaller, Cheaper Chip

Processor targeted at very low-end computers

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