Abu Dhabi firm buys 8pc of US chip-maker.DUBAI: Abu Dhabi's Mubadala Development said yesterday it had bought 8.1 per cent of US-based Advanced Micro Devices, the second-largest maker of computer processors, for $622 million. Mubadala, owned by the government of the world's sixth-largest oil exporter, will not get a seat on the board of the California chip-maker, which will spend some of the cash on research and development, the two companies said in a statement. Advanced Micro Devices controls about a fifth of the market for the central processing units See CPU. (architecture, processor) central processing unit - (CPU, processor) The part of a computer which controls all the other parts. Designs vary widely but the CPU generally consists of the control unit, the arithmetic and logic unit (ALU), registers, temporary buffers at the heart of the world's one billion personal computers and servers, and Intel the rest. The two companies have been locked in a price war and Advanced Micro Devices has reported four straight quarters of net losses. Mubadala bought 49m new shares at a price of $12.70 each, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the statement. The US company reimbursed Mubadala for $14.6m in expenses and kept the rest. Mubadala is one of the state-agencies Abu Dhabi Abu Dhabi (ä`b  thä`bē, zä–, dä–), Arab. Abu Zabi, sheikhdom (1995 pop. 928,360), c. and other members
of the UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. are using to invest their windfall from a five-fold increase
in oil prices in the past five years.
Mubadala's investments include the 1.3 billion Swiss franc Noun 1. Swiss franc - the basic unit of money in Switzerland franc - the basic monetary unit in many countries; equal to 100 centimes centime - a fractional monetary unit of several countries: France and Algeria and Belgium and Burkina Faso and Burundi and ($1.16 billion) takeover of Swiss aircraft maintenance firm SR Technics tech·nic n. 1. technics (used with a sing. or pl. verb) The theory, principles, or study of an art or a process. 2. technics (used with a pl. verb) Technical details, rules, or methods. 3. last year with other UAE agencies, and a 5 percent stake in Ferrari, the Italian sports car maker. Advanced Micro Devices said in a registration statement with the U.S. Securities and Exchange Commission on Thursday it would sell up to $700 million in common stock periodically and use the proceeds for general corporate purposes. The deal with Mubadala could attract the attention of the U.S. Committee on Foreign Investment, which vets acquisitions by overseas investors, particularly in technology and defence companies, on national security grounds, the Financial Times said on Friday. A spokesman for Advanced Micro Devices said that, contrary to the Financial Times report, the company's work did not include government contracts. (Additional reporting by Valerie Lee in Singapore and Justin Grant 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 ; Editing by Quentin Bryar/Sue Thomas) Copyright [c] 2008 Gulf Daily News Provided by Syndigate.info an Albawaba.com company |
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