Madshrimps Forum Madness - AMD to raise $700 million in share sell

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AMD to raise $700 million in share sell

CHIP FIRM AMD said in a filing to the SEC that it wants to raise $700 million of shares.The firm's share price was $12.70 when the NYSE closed yesterday.

The filing said that AMD expected Intel to maintain its dominant position in the market place, and it only started shipping its first quad core products during the third quarter.

http://www.theinquirer.net/gb/inquir...-million-share

Emirates-based firm buys 8.1 percent stake in AMD

Quote:

SUNNYVALE, Calif. - The Abu Dhabi government's investment arm is buying an 8.1 percent stake in No. 2 microprocessor maker Advanced Micro Devices Inc. for $622 million.
A unit of Mubadala Development Co. received 49 million newly-issued AMD shares at Thursday's closing price of $12.70 each, the Sunnyvale-based chip maker said Friday.

AMD received about $608 million, after reimbursing the United Arab Emirates investment firm for approximately $14.6 million in expenses.

AMD said it will use the proceeds for general corporate purposes including investing in research and development, product innovations and manufacturing.

The company said Mubadala will not receive any board representation as part of the non-controlling, minority investment. This transaction isn't therefore subject to review by the Committee on Foreign Investment in the U.S.

AMD shares rose 8 cents to $12.77 in morning trading after rising as high as $13.37 earlier in the session.

http://www.mercurynews.com/business/...nclick_check=1

Cooling AMD CPU with oil.:)