Meyer speaks
"This is the biggest announcement in our history," said Meyer. "This will make us a financially stronger company, both in the near term and in the long term, as a result of being out from the capital expense burden we have had to bear."
There are in fact two Abu Dhabi investors involved in this move. ATIC is a government backed organisation that is putting up $2.1 billion straight away and up to $6billion more for reinvestment in existing fabs and construction of a new one in Malta, New York.
The other investor is the Mubadala Development Company, already the owner of eight percent of AMD, which has bought a further 11 percent or so of the pre-split company for $314 million.
AMD is getting $700 million of the $2.1 billion ATIC is investing. The rest is going straight into The Foundry Company, which will also take on $1.2 billion of AMD debt.
