{"id":105105,"date":"2021-01-23T09:03:56","date_gmt":"2021-01-23T09:03:56","guid":{"rendered":"https:\/\/fin2me.com\/?p=105105"},"modified":"2021-01-23T09:03:56","modified_gmt":"2021-01-23T09:03:56","slug":"she-brought-amd-back-from-the-brink-of-bankruptcy","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/she-brought-amd-back-from-the-brink-of-bankruptcy\/","title":{"rendered":"She brought AMD back from the brink of bankruptcy"},"content":{"rendered":"<p><cite>New York (CNN Business)<\/cite>The coronavirus pandemic has forever changed the microchip industry, kicking its consolidation into high-gear as people rely more on massive data centers to host their video conferences and other productivity services. Capping off a year of massive change for semiconductors, AMD agreed to buy rival chipmaker Xilinx in a $35 billion deal.<\/p>\n<p>The two companies announced Tuesday that the all-stock transaction will create the industry&#8217;s largest high-performance computing company and further bolster AMD&#8217;s growing portfolio. Combined, it will have 13,000 employees with the deal expected to close at the end of 2021.<br \/>\nTogether, the companies are hoping to further establish itself against Intel and other rivals as demand booms for chips needed for computers, cars and aerospace.<br \/>\n&#8220;Our acquisition of Xilinx marks the next leg in our journey to establish AMD as the industry&#8217;s high performance computing leader and partner of choice for the largest and most important technology companies in the world,&#8221; AMD CEO Dr. Lisa Su said in a statement.<br \/>\nShares of <span>AMD<\/span> <span>(<span>AMD<\/span>)<\/span> fell in 5% in premarket trading, while <span>Xilinx<\/span> <span>(<span>XLNX<\/span>)<\/span> stock soared 10%. <\/p>\n<p>It&#8217;s the latest and largest move under Su, which has reversed AMD&#8217;s declines since taking over in 2014. Since she became CEO, the company&#8217;s shares are up more than 1,300%, despite the fact that AMD, like many tech companies, has taken hits from the US-China trade war and, more recently, from disruptions caused by coronavirus.<br \/>\nAMD also released earnings early Tuesday, reporting a 56% jump in sales to $2.8 billion. &#8220;Strong customer momentum drove our fourth straight quarter of greater than 25% year-over-year revenue growth,&#8221; the company said.<br \/>\nThe acquisition marks the latest big tie-up in the rapidly consolidating semiconductor industry.<br \/>\nEarlier this month, <span>Intel<\/span> <span>(<span>INTC<\/span>)<\/span> sold part of its memory chip business to SK Hynix for $9 billion in a deal that would make the South Korean company the world&#8217;s second biggest flash memory chipmaker. And <span>Nvidia<\/span> <span>(<span>NVDA<\/span>)<\/span>, known mainly for making chips for video game graphics, announced recently that it would acquire UK-based chip designer Arm for $16 billion.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2020\/10\/27\/investing\/amd-xilinx-purchase\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (CNN Business)The coronavirus pandemic has forever changed the microchip industry, kicking its consolidation into high-gear as people rely more on massive data centers [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":105104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>She brought AMD back from the brink of bankruptcy - 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