Advanced Micro Devices Inc.is said to be in advanced talks to acquire rival chip maker Xilinx Inc. for a deal worth more than $ 30 billion, according to The Wall Street Journal. The deal could be concluded next week, but not guaranteed as talks had stalled before restarting.
- AMD’s market value topped $ 100 billion after stocks soared by 89% due to demands for PCs, gaming consoles, and other devices that use company chips
- AMD’s Q2 revenues rose 26% to $1.93 billion, while net income were up than fourfold to $157 million due to record notebook and server-processor sales
- Surge in shares strengthen the company to acquire Xilinx using its stock as currency
Purchase of Xilinx will be the latest big tie-up in the rapidly consolidating semiconductor industry. XLNX:NASDAQ is up on premarket 16.59%, AMD:NASDAQ is down on premarket 2.21%