AMD CPU technology is encumbered by the Intel x86 license. Only AMD, and not an AMD acquiror, can exercise rights (i.e., make, use and sell x86 products) under the license. A buyout gives Intel a termination right for the license.
x86 is still 65% of the company's revenue (spread between semi-custom and PCs/laptops). It is also absolutely necessary for Zen. The real value of AMD as a takeover target is the enterprise value without 65% of its revenue producing product lines.
With a tiny real takeover value and a mountain of debt ($2.3 billion that would accelerate to maturity in the event of a change in control), there are no buyers. With all that debt, the bankers likely have a veto over sale of assets or divisions, too.
It's a mess.
Makes perfect sense. If you're Google and looking to pioneer with an ARM chip maker in the nascent server CPU space, why would you partner with a penniless husk with a 40-year history of coming in last and not living up to promises when you can partner with one of the premiere ARM chip makers in the world who is well-funded and has a long history of success with few set-backs?
AMD clearly doesn't have an "honesty mirror". If AMD had a clear picture of itself and its decrepit position, it would not waste money blindly on new segments in which it lacks the credibility, talent or capital to succeed. Very, very poor management.
Wow, that is just plain bleak. It makes me feel sorry for Lisa, almost. Having your own employees perceive you to be a pocket-lining sham with no conception of what is possible and what is not with the company's lagging, under-funded, over-hyped technology.
LOLZ! LOLZ! LOLZ!
You should do stand-up. Or maybe join a circus as a clown.
You definitely shouldn't work in tech investments, though. You obviously don't have a knack for it.
I just picked up a Surface 3 for controlling a connected home and fully automated astronomical observatory.
Lowly Atom has come a long way, baby. No fan, no noise, no heat, 10 hour battery life with a small batter, full Windows 10, HD5300 (Gen 8) integrated graphics, great screen, small, light, etc.
AMD has nothing now nor nothing on any future roadmap that bridges the PC world to the mobile world, and increasingly laptop sales will be sales of ultra-thin, ultra-light, fanless, long life devices.
That's a product design "miss" every bit as large as the one that got Dirk "Diggler" Myer fired for failing to foresee the rise of iPad.
Lisa Su's walking papers are probably being printed now.
I'd go so far as to say that AMD has a better chance of finding a talking cat than launching a successful Zen.
The devil is in the details. That is a 40% IPC increase over Excavator. Not a 40% IPC increase over any Intel product or architecture. Haswell at 22nm had more than 40% greater IPC than current Excavator. What AMD is really claiming is that finally, when Zen launches and faces Sky Lake and Kaby Lake it will be as fast as Haswell, Broadwell's ancient predecessor.
The best way to be certain that Zen won't be competitive is that AMD is too chickenschitz to compare its projected performance against any current Intel chip. If AMD had a prayer that Zen would be remotely performance competitive with even Broadwell, they would be making claims relative to Broadwell rather than Excavator.
Maybe this is their new strategy for hiding the inventory problems. You but the cooler and they bundle unsellable APUs with it to claim they "sold" them, albeit at a loss.
And yet she has failed and crippled her company badly in each prior position.
I guess having a handful of degrees does not a good technology leader make.
AMD doesn't need a bookish tranny for CEO. AMD needs someone who understands where CPUs and GPUs are headed.
Under Su AMD has repeatedly fought the last battle rather than innovating. Every new product launches into a second or third place role compared to the technology generation its competitors are just migrating from. This is exactly how she performed in past positions as well. "Me too" without a novel idea in her pointy little head.
Perhaps it's cultural - imitation above innovation.
Unfortunately for AMD its competitors hold not only more patents for their competitive technologies, but also their patents when implemented clearly result in better products. AMD's market share in both CPUs and GPUs had reached all-time lows. Ergo, patents for inferior technologies aren't worth all that much.
Selling off today. Pump and dump suckerage gets 'em every time.
x86 belongs to intel. AMD implements x86 only by permission from Intel. That permission is not transferable. The DOJ in the FTC consent decree actually commented on the non-transferability of AMD's x86 rights to a buyer.
AMD's ARM chips are primitive and frankly a total joke. Even puny X-Gene blows AMD's ARM server entry away.
No ARM company will want AMD. No would-be x86 company can become an x86 company by buying AMD without obtaining its own permission from Intel.
Zen is a munch of "ifs". Polaris is also a bunch of "ifs". AMD is a company that hasn't launched a successful product in living memory. It has bungled and messed up every single chip it has launched for more than a decade. These flubs were made when it had a lot more R&D spend and much, much better technical talent.
The odds of a cash strapped AMD led by a no body CEO and staffed with everyone's third or fourth choice for the job personnel pulling a rabbit out of its hat with either Zen or Polaris are less than zero.
Farcical or not, it's still an impossibility for AMD. They will have another massive APU inventory write down this year coupled with declining ASPs across the board which will erase the $312 million payment she's banking on for selling off some of the assets.
I'd say we'll see a new AMD CEO in the second half. Lisa won't keep her job past mid-year. She's a total joke.
Well done Lisa Su! Well done indeed!!
"Back"? How can AMD be "back". It was never here to begin with. You can't go back to a place you've never occupied in living memory.
Maybe she means "back to creditors asking for more loans" or "back to GF asking them to waive penalties" or "back making excuses for poor execution to shareholders" on yet another 4 quarters worth of conference calls.
That is great news - for Qualcomm, since that is who Samsung is fabbing for. AMD is using GF and TSMC. Oof, mis-pump there, pumpwad. Though GF is licensing Samsung's fab technology, it's still GF. We all know how bad GF is. Even the owners want to dump it but can't find a buyer.
Um, you're aware that this has already been fixed, right? The fix was released before the article was published even. Keep flailing at straws. I know you've been in a great deal of pain ever since AMD stopped funding lube for fanboys, but your flaming blistered pucker-hole is no excuse for disseminating out of date information.
Heck, doesn't look like AMD will survive Friday, much less the year.