AMD gets US clearance for Abu Dhabi joint ventureAdvanced Micro Devices said Tuesday it received clearance from US authorities for a joint venture with capital from two Abu Dhabi investment firms to help it compete against sector leader Intel. The US computer chip maker said the plan was cleared by the Committee on Foreign Investment in the United States The Committee on Foreign Investment in the United States (or CFIUS) is an inter-agency committee of the United States Government that reviews the national security implications of foreign acquisitions of U.S. companies or operations. (CFIUS CFIUS Committee on Foreign Investment in the United States ), an intergovernment agency that can review deals on national security grounds, for the creation of a venture known as The Foundry Company. The venture is with the Advanced Technology Investment Company (ATIC ATIC Aicar Transformylase/IMP Cyclohydrolase ATIC Air Technical Intelligence Center ATIC Advanced Thin Ionization Calorimeter (NASA/LSU project) ATIC Arizona Telecommunications & Information Council ), a firm owned by the government of Abu Dhabi. ATIC will own a 55.6 percent share of the venture. The Foundry Company will include manufacturing facilities in Dresden, Germany with plans to expand that site as well as build a state-of-the art facility in Saratoga County, New York Saratoga County is a county located in the U.S. state of New York. As of the 2000 census, the population was 200,635. It is part of the Albany-Schenectady-Troy Metropolitan Statistical Area. The county seat is Ballston Spa. . The new company will have its principal headquarters in Silicon Valley, and its research and development and manufacturing teams in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Dresden, and Austin, Texas. Simultaneously, another Abu Dhabi investment firm, the Mubadala Development Co. will increase its investment in AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. to 19.3 percent from the current 8.1 percent through the purchase of shares and warrants worth 314 million dollars. According to AMD, CFIUS has determined that the investment by Mubadala is not subject to review. AMD, which has been losing money and falling behind market leader Intel Corp., has said the move would result in one company that designs semiconductors and another which builds them. 
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