Cash Strapped AMD Selling Texas Facility to Raise Funds

[[Coi] Mr.CLuBBeR]

Advanced Micro Devices (AMD) is reportedly shopping its 58-acre Texas camp in hopes of raising $150 million to $200 million. The Sunnyvale chip designer's financial struggles have been well documented up to this point, leaving some to wonder if the end might be nigh for a semiconductor company that's been around for over four decades. Certainly the end already arrived for the thousands that have been laid off from AMD in the past year.
Company spokesman Drew Prairie informed Reuters of AMD's plans to sell its Texas location. The money raised will be used on various projects, especially as AMD tries to establish itself in the mobile sector.
"There are favorable economic conditions in the part of Austin where the campus is located," Prairie told Reuters. "Contingent on finding an investor who wants to do a multiyear lease-back, it's a good opportunity for us to unlock the value of the real estate to fund operations."
AMD's been hit hard by the recent slump in PC sales. The company recently closed an open source development fab in Germany shortly before reportedly hiring J.P. Morgan to "explore options," including an outright sale of the company (AMD later denied reports that the company is for sale). Then earlier this month, AMD's share price dropped below $2 for the first time since 2008.
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