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GlobalFoundries to announce new customer next month

Posted on Thursday, July 23 2009 @ 18:41:17 CEST by

EE Times claims GlobalFoundries is expected to announce its first new customer within the next three to four weeks. Additionally, the new foundry is planning to raise new cash from its shareholders in coming months. This will dilute AMD's stake in the foundry as the company doesn't have the money to maintain its share.
Since its spin off by AMD as an independent foundry, the wafer supplier has been trying to add new customers to reduce its reliance on AMD for the majority of its sales. Company executives did not disclose details of discussions with potential customers but indications are that talks are at an advanced stage, according to industry sources.

AMD's shareholding interest in Global Foundries is also expected to drop further in coming months as the company moves to shore up its cash reserves. Global Foundries is expected to call on shareholders to increase capital contribution to the foundry towards the end of the year but AMD has indicated it will not participate in the additional round of funding.



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