Transmeta Corporation has received a $7.5 million boost from Advanced Micro Devices Incorporated in exchange for an undisclosed amount of Transmeta preferred stock. Transmeta did not reveal what it will do with the money, and AMD did not explain why it made the investment. Dirk Meyer, president and chief operating officer of AMD, did however note: "Our investment will support Transmeta's technology development work and AMD's efforts to leverage Transmeta's innovative energy-efficient technologies to the benefit of AMD's customers."
"AMD has long been a leader in the development and delivery of energy-efficient, high-performance computing technologies, standards and initiatives. Transmeta has been proud to endorse and contribute to those industry leading activities, and we look forward to continuing our collaboration with AMD on technology initiatives in the future," said Les Crudele, president and chief executive officer of Transmeta.