Mubadala did not disclose the sale price; but the market value of the 34.9 million shares was about $842 million.  The move still sees Mubadala as a major shareholder in the global semiconductor firm after the transaction, with ownership of about 6.9 percent, once the 75 million warrants are converted to common equity shares, the company said.

The Abu Dhabi state fund first invested in AMD in 2007 but has been trimming its stake in recent years. Mubadala had an initial stake of 12.9 percent in the chipmaker, according to its annual report for 2017 financial year.

“Today’s transaction remains in line with Mubadala’s overall investment strategy to monetise mature holdings to deliver attractive commercial returns”, Brian Lott, a spokesman for Mubadala said.

Converting the warrants will provide AMD with $448.5 million, Mubadala said in a statement issued in Abu Dhabi, the capital of the United Arab Emirates.