In order to focus on semiconductor research and development of cloud, mobile and big data systems, IBM has decided to transfer its chip manufacturing business to Globalfoundries.
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AMD has announced it will only buy $115 million of processor chip wafers from Globalfoundries in the fourth quarter of 2012, a massive decrease compared to its previous plan of paying $500 million.
AMD announced that it lost $590 million in its last fiscal quarter but added that it still had "solid results" as the results included a one time accounting charge of $703 million.
Globalfoundries, the company that once was a part of AMD's chip manufacturing business, has now bought back its remaining shares from AMD to become a true independent foundry.