Friday, November 16, 2007

AMD Gets $622M From United Arab Emirates

Sunnyvale-based semiconductor maker AMD said Friday morning that it has received a $622M investment into the firm by Mubadala Development Company, a firm headquartered in Abu Dhabi, United Arab Emirates. AMD said that the investment will give Mubadala a 8.1% stake in the firm. According to publicly held AMD, the sale of common stock will be used for general corporate purposes. Mubadala Development Company is the investment arm of the government of the United Arab Emirates (UAE).