Abu Dhabi government buys into U.S. chipmaker"Advance Micro Devices has found a way to compete with Intel's balance sheet," declared 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. founder Jerry Sanders, "and that is by using Abu Dhabi's balance sheet." Many companies have shied away from the costly business of chip manufacturing, but the government of Abu Dhabi is betting up to $8.4 billion on the sector, as part of a financial rescue plan for Advanced Micro Devices Inc. The complex deal marks a major shift in the fortunes of AMD, which has been losing lots of money. It also reflects the longterm shift of wealth to oil-rich countries as well as short-term jitters jitters 'Butterflies' Psychology An episode of nervousness or anxiety that often precedes a public event; jitters is a type of performance anxiety which may affect actors in a stage production–stage fright or soloist musicians; it may respond to anxiolytics in financial markets that have kept other investors on the sidelines On the sidelines An investor who decides not to invest due to market uncertainty. on the sidelines Of or relating to investors who, having assessed the market, have decided to avoid committing their funds. . Advanced Micro Devices Inc. and a recently formed investment firm owned by Abu Dhabi's government said October they will become joint owners in a new company that will take over AMD's factories in Germany. The firm will make a $1.4 billion initial investment in the new venture, temporarily called Foundry Co., and make a $700 million payment to AMD for its share of the new company's assets. The firm, dubbed ATIC ATIC Aicar Transformylase/IMP Cyclohydrolase ATIC Air Technical Intelligence Center ATIC Advanced Thin Ionization Calorimeter (NASA/LSU project) ATIC Arizona Telecommunications & Information Council , or Advanced Technology Investment Co., will provide $3.6 billion to $6 billion over five years to fund expansion plans, including upgrading an existing factory in Dresden and building a $3.2 billion chip factory and research center in upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. that will employ 1,400 people. A factory in Abu Dhabi may also eventually follow, if financial conditions warrant, though Brazil and other locations are also possibilities, said Waleed Al Mokarrab, ATIC's chair. The idea is for Foundry to assume the burden for running factories from debt-ridden AMD, which has struggled to keep up with giant Intel Corp. in developing new production processes. © 2008 Instrument Society of America Provided by ProQuest LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . All Rights Reserved. 
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