AMD Refutes Reuters' Claim, Company Not Up For Sale

The Internet is abuzz this evening after Reuters ran an exclusive report claiming Advanced Micro Devices (AMD) had hired J.P. Morgan Chase & Co. to "explore options," including a potential sale of the company. You can imagine the sullen faces on AMD fans far and wide, and also those who favor healthy competition in the market place. There's just one problem -- AMD isn't shopping for a buyer, not for itself or for any of its assets, or so the chip maker says.

Reuters based its report on un-named sources who said a sale of the company wasn't necessarily a priority, but it was definitely looking at available options, such as selling some of its patents to the highest bidder. Given AMD's recent financial struggles, it at least seemed plausible that the company might look to raise cash by selling certain assets. After Reuters ran its report, shares of AMD surged 18 percent before things calmed down. In after hours trading, AMD stock is up 5 percent to $2.09.  Two dollars and nine cents. Yes, that's pretty much bargain basement for a big name semiconductor company.

AMD Headquarters

That said, it bears repeating that AMD is rejecting the notion that any of the sales talk is true. However, AMD has not come out and refuted that it's working with J.P. Morgan & Co. Regardless of everything else, AMD is still dealing with significant long-term debt, lease obligations, and an uncertain future as the PC industry shifts to mobile, all of which are reasons it may seek out financial advice and/or outside assistance.
Via:  Reuters
Tags:  AMD, Business, Technology
Comments
realneil 2 years ago

I hope that they don't go under.

mhenriday 2 years ago

Agree with realneil here - what this branch needs is more, not fewer makers....

Henri

3vi1 2 years ago

Who would buy them? TI? There's no way a deal to sell to Intel would get approved.

mhenriday 2 years ago

But perhaps other parties than Intel might feel they could make a go of the business ? Or at least find some of its components of interest and worth purchasing ?...

Henri

LarryDarren 2 years ago

When I first read this, my heart sank.

AMD is innovative and should continue to be a part of this industry.

dwisen 2 years ago

Thank God!
I can't imagine what it would be like without AMD.

kidbest100 2 years ago

I want AMD to live. they have had tons of rough patches, but since the Athlon/Phenom days, things have kind of been going downhill.

Bulldozer was a big disappointment, and so is Piledriver.

We need AMD to live, and get their crap together, to make competition for intel.

If theres no competition, intel wont try and keep the technology booming, and we will see very insignificant performance jumps. :(

WendellWoW 2 years ago

I've had AMD fit years, I can't see them going out of business. "un-named source"? Oh, you mean rumors?

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