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AMD to spin off chip production
AMD will spin off its chip production in a joint venture. The joint venture will then produce memory chips for both - AMD and other companies.
The rumours of the last few weeks have now been confirmed. The AMD factories in Dresden will be incorporated into the new company, reports the Wall Street Journal. The financing for the spin-off comes apparently from investment companies - which are said to be liked to the government of Abu Dhabi. One of the rumoured investors is Mubadala Development, which is already holds 8% of the group.
As the report further indicated, AMD will release additional information later today.
