Advanced Micro Devices has dumped its share in GlobalFoundries Inc, 3 years after spinning off the company that manufacturer it’s chips. With the seperation, AMD will now be free to use other foundries to manufacture their processors as the Abu Dhabi-controlled foundry would no longer have exclusive manufacturing rights to some of AMDs chips.
In the past, GlobalFoundries struggled to bring its 28nm chip fabrication on-line last year, prompting AMD to shift its production to rival TSMC. This probably sour relationships and is the fundamental reason for dumping it’s stake in GlobalFoundries.
AMD shares were down nearly 3 percent at $7.27 in morning trading on the New York Stock Exchange.
Source : Reuters