CHANGING HANDS: The Abu Dhabi government will get full control of Advanced Micro Devices Inc.’s former microchip manufacturing unit, though AMD will remain a key customer.
ABOUT THE COMPANY: GlobalFoundries was founded as a spin-off from AMD in 2009. AMD has had a minority stake but will give that up as part of a revised supply agreement. Abu Dhabi’s Advanced Technology Investment Co. will now have total ownership.
WHAT THIS MEANS: ATIC says GlobalFoundries will now be better positioned to diversify its customer base.