AbuDhabi’s ATIC eyes full Globalfoundries ownership
AbuDhabi’s ATIC has filed an application with Germany’s cartel office to take over Globalfoundries, a contract chipmaking venture it established with Advanced Micro Devices (AMD) last year. The Advanced Technology Investment Co. (ATIC) filed the application on Jan 12 according to the cartel office website.
“This action is simply consistent with the long-announced plan for AMD to gradually become fab-less, which was one of the key strategies behind the creation of Globalfoundries,” Atic said. “Fab-less” is the industry term used when semiconductor makers design their own products but outsource their manufacture. ATIC invested $2.1 billion for a 65.8 percent stake of the venture. Of that, $700 million went directly to AMD, which holds the remaining stake.
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