AMD chipmaking spinoff gets OK from U.S.

Advanced Micro Devices' manufacturing spinoff got an all-clear from the U.S. government on Tuesday.

The Committee on Foreign Investment in the United States (CFIUS), part of the U.S. Treasury Department, gave the green light to AMD and the Advanced Technology Investment Company (ATIC) to create The Foundry Company, the manufacturing operations that AMD spun off back in October.

CFIUS has also determined that "the proposed additional investment in AMD by Mubadala is not a covered transaction subject to CFIUS review," according to AMD.

ATIC will own 65.8 percent of The Foundry Company and AMD 34.2 percent, according to a revised statement from AMD in December.

ATIC is a technology investment company wholly owned by the Government of Abu Dhabi. The Foundry Company will be a U.S.-headquartered chip manufacturing company with manufacturing facilities in Dresden, Germany. Future plans call for manufacturing facilities in Saratoga County, New York.

[nicmart]

In a free country a company does not need the permission of the government to conduct business.

[Logecy]

I do so enjoy it when someone talks about the one of the virtues of a "free country" being the ability to conduct business without little things like permission (which falls under the oversight), when various governments are the only things keeping?literally?hundreds of companies in the US and abroad from bankruptcy.

By the way, selling heroin is also "business" to some, yet I suspect that you don't have an issue with the government intervening in that particular enterprise; even in a country as "free" as ours.

[Logecy]

I love it when I hear people equate a "free country" with the ability to conduct business, which works until a company jumps the shark. Then it's the government's problem, right?

[gfsdfge]

I live in Saratoga County NY. AMD came to NY and said it would open a plant. Our Politicians bribed them with a BILLION dollars of our tax money to build the plant. Now they say they'll only own a small percentage? I think this was a bait and switch. We should not give a Billion dollars to a company from Abu Dhabi. I wish the corperate press, like NBC, would junmp on this.