Published in News
Globalfoundries goes fully independent
ATIC buys final 8.8% share
Three years into the Globalfoundries spin-off, the foundry has finally announced that it is fully independent from AMD.
On Monday AMD announced that it would transfer all of its ownership to Abu Dhabi’s ATIC investment fund, thus finalizing the deal. Under the terms, AMD will pay Globalfoundries $425, but it also not have to pay $430 million that it already owes the foundry. AMD will also be free to pursue deals with other manufacturers for certain types of 28nm chips, as it was bound to buy some 28nm chips from Globalfoundries, despite the fact that the node was not ready.
Globalfoundries also experienced yield issues with 32nm products, but it managed to resolve them last year. Of course, 32nm is the process of choice for AMD’s Bulldozer and Llano products, as well as the upcoming Trinity APU.
AMD CEO Rory Read said the companies will remain committed to their long-term strategic partnership, while Globalfoundries CEO Ajit Manocha noted that the deal marks the start of a new era for the foundry.