Since Advanced Micro Devices acquired ATI Technologies back in 2006 they have experienced some financial hardship over this $5 billion USD purchase. In hopes of turning around this situation, AMD has announced this morning they have split themselves from their manufacturing facilities as part of their Asset Smart strategy.
AMD combined with Advanced Technology Investment Company, an investment firm from Abu Dhabi, supplying the capital they have formed The Foundry Company. The Foundry Company will be in control of AMD's manufacturing facilities and they'll continue to expand them through further enriching their Dresden facility along with building a campus in New York. Additionally, they're looking at building a R&D facility in Abu Dhabi.
AMD will be the leading client of The Foundry Company, but they'll also offer their semiconductor build services to other companies. The Foundry Company is also an IBM alliance partner. All of the news about this move to improve their financial outlook can be found on AMD's website.
Website : http://web.amd.com/newglobalfoundry/ | http://www.newglobalfoundry.com/