AMD plans production venture with Abu Dhabi firm

[xpresso]

AMD plans production venture with Abu Dhabi firm - MarketWatch

NEW YORK (MarketWatch) -- Advanced Micro Devices Inc. said Tuesday it plans to spin off its manufacturing operations in the form of a multibillion-dollar joint venture with an Abu Dhabi investment firm.
The move by the struggling chipmaker will help shore up its balance sheet and allow Sunnyvale, Calif.-based AMD to focus on chip design. The cost of running its own manufacturing operations has become a financial drag and hampered AMD's ability to compete with larger rival Intel Corp. (INTC:Intel Corporation
AMD 5.41, +1.18, +27.9%) said it will own 44.4% of Foundry Co., as the venture will be called. The remaining 55.6% would be own by Advanced Technology Investment Co., an investment company formed by the government of Abu Dhabi.

[xpresso]

Link to AMD's presentation The Presentation

This is AMD's investor roadshow presentation for selling the new business model, good details here.

[SirRobin4ever]

Strangely, they're manufacturing is being bought by a company called ATI.

[Viperabyss]

I wonder what this means for AMD in the long run.

[xpresso]

Strangely, they're manufacturing is being bought by a company called ATI.

yeah I thought that was funny too

[xpresso]

I wonder what this means for AMD in the long run.

It means that are exiting chip manufacturing, but what really matters is that AMD now is in a much better position for the next 5 years.

[TSIMonster]

Strangely, they're manufacturing is being bought by a company called ATI.

I caught that too, funny stuff.

I wonder what this truly means for AMD and ATi(The one we know) in the long run?