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-   -   AMD sells 8.1% to Abu Dhabi Gov't (http://www.hardwarecanucks.com/forum/press-releases-tech-news/3306-amd-sells-8-1-abu-dhabi-govt.html)

Babrbarossa November 17, 2007 02:20 PM

AMD sells 8.1% to Abu Dhabi Gov't
 
I'm sure this as necessary, but I'm not so sure this is going to help them win any US gov't contracts....

With oil prices surging and U.S. stock prices slumping, chip maker Advanced Micro Devices Inc.'s sale of an 8.1 percent stake to the Abu Dhabi government's investment arm represents the latest plunge by a wealthy Middle Eastern nation into a troubled U.S. corporation.

.threshold_hidden {visibility:hidden;position:absolute;} .threshold_visible {visibility:visible;} div.threshold_visible { visibility:visible; }div.threshold_hidden { visibility:hidden; position:absolute; height:5px; } It also raises fresh questions about the appropriateness of Middle Eastern firms owning large chunks of U.S. businesses that specialize in advanced technologies.

Sunnyvale-based AMD, the world's No. 2 microprocessor maker, needs the $622 million investment from the Mubadala Development Company to help lift the company out of a deep financial slump.

AMD has lost more than $1.6 billion so far this year, and has just $1.5 billion in cash on hand as it works to pay down $5.3 billion in debt. The financial woes have caused AMD's stock to fall more than 35 percent since the start of the year, a slide that has wiped out nearly $4 billion in shareholder wealth.

The infusion, announced Friday, is a necessary jolt for AMD is it hunts for money to fund its counteroffensive against Intel Corp., the world's largest chip maker, and amid a huge spike in investments in U.S. companies from Middle Eastern nations.

Read more at The Ledger

Prof. Dr. Silver November 17, 2007 02:22 PM

I think now is the time to buy AMD stocks!!! w00000t

Babrbarossa November 17, 2007 03:42 PM

They're not doing anything stellar yet (ater-hours trading considered)- still at about $12 USD which is pretty much as low as they've ever been considering the state of the greenback

b1lk1 November 17, 2007 04:18 PM

As for raising questions as to who owns what in this world, I feel that North America has a bad penchant for trying to tell the rest of the world what to do, especially the US. As I am a US Citizen, I must admit I am very much not happy with the approach my government has taken as of late. I am a die-hard conservative, but even I would most likely vote for Hillary in the upcoming election. I am sorry, but I firmly believe that the US and Canada need to just pull out of NATO and stop all this sillyness on trying to fix the world when they both have major problems at home they cannot handle.

qwerty November 18, 2007 06:10 PM

Quote:

Originally Posted by b1lk1 (Post 26578)
As for raising questions as to who owns what in this world, I feel that North America has a bad penchant for trying to tell the rest of the world what to do, especially the US. As I am a US Citizen, I must admit I am very much not happy with the approach my government has taken as of late. I am a die-hard conservative, but even I would most likely vote for Hillary in the upcoming election. I am sorry, but I firmly believe that the US and Canada need to just pull out of NATO and stop all this sillyness on trying to fix the world when they both have major problems at home they cannot handle.


I agree with you. I am not a US citizen but I follow politic closely. I don't think that the US needs another term with Hillary at the helm you guys already had that with Bill as she was the real President. I am hoping that Ron Paul gets in down there. Then you will see some real change as he vows to remove the USA from NATO and the UN. Two agencies which meddle and dictate far too much. Hopefully then Canada would follow suit...only in a perfect world.


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