AMD sees $325M gain from GlobalFoundries spinoff
Advanced Micro Devices Inc. said Thursday that it would see a $325 million non-cash gain in the quarter ended March 27 from its spinoff of GlobalFoundries Inc.
AMD launched its former manufacturing business as GlobalFoundries in March 2009. The spinoff was done as a joint venture with Abu Dhabi-based Advanced Technology Investment Corp. AMD owns 34.2% of the venture.