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.
Brooke Crothers has been an editor at large at CNET News, an analyst at IDC Japan, and an editor at The Asian Wall Street Journal Weekly, among other endeavors, including co-manager of an after-school math-and-reading center. He writes for the CNET Blog Network and is not a current employee of CNET. Disclosure. 
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.
- by gfsdfge January 7, 2009 9:59 AM PST
- 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.
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