AMD (AMD) needs more money. It appears that it got about $700 million from Abu Dhabi’s Mubadala Development, accordiing to Reuters. The country that controls the fund is one of the world’s largest oil producers.
It appears that the fund now own over 8% of AMD. Why the company needs the money is not entirely clear, although it is being beaten to a pulp by larger rival Intel (INTC).
For sharesholders, it is not a good sign.
Douglas A. McIntyre
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