October 13th, 2008
DOJ backs off ATI
More good news for AMD. The Department of Justice has officially closed its antitrust investigation into ATI, the graphics chipmaker it bought in 2006. The Justice Department was investigating practices in the hot-and-heavy battle between ATI and Nvidia. Coverage at PCWorld.
AMD announced last week saw its beleaguered stock shoot up 30% on the announcement it would spin off its manufacturing plants to a new joint venture with two government-controlled entities of the United Arab Emirates – the Mubadala Group, which had exchanged $614 million for an 8% stake, and Advanced Technology Investment , which takes on $1.2 billion of AMD’s long-term debt and contributes at least $3.6 billion to the new Foundry Company’s bank accounts, according to Motley Fool.
