AMD gets cash infusion from Middle East firm

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In a sign that it is facing increasing financial pressure, PCWorld reported on Friday of last week that AMD has taken a $622M investment from Mubadala Development Company, an investment company based in the United Arab Emirates (UAE).

AMD logoMubadala bought 49 million newly-issued shares of AMD, although the investment does not put the development company on AMD’s board of directors, AMD said.

According to the article

In October, AMD reported a net loss of $396 million for the third quarter, compared to net income of $136 million a year earlier. It was the company’s fourth straight quarterly loss.

By the way, this investment gets Mubadala an 8.1% stake in AMD.