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Wednesday, 05 December 2012 09:42

Mubadala throws more money at AMD

Written by Fudzilla staff

Now has a 19 percent stake

AMD stocks are up on news that Mubadala Decelopment Co. has increased its stake in the company to about 19 percent from 15 percent, Bloomberg reports.

Aside from increasing its stake, Mubadala also got an extra board seat. Of course, Mubadala is not new to AMD. Back in 2008 the company bought up AMD’s manufacturing business and spun it off into Globalfoundries.

On Monday, AMD stock picked up 7.3 percent, but it’s still not enough to offset the 56 percent loss this year.

More here.

Fudzilla staff

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