AMD (Advanced Micro Devices) announced that they will be splitting their company in two. One division will concentrate on the designing of their microprocessors, while the other division will handle the costly business of manufacturing them.

AMD is now spinning off its manufacturing plants which is part of their agreement with Abu Dhabi government which is investing $8.4 billion in a new company called ‘Foundry’.

Foundry would manufacture processors for AMD and would also seek contracts from other companies.  AMD would design the chips and develop new technologies.