AMD hires JP Morgan to explore options, including possible outright sale


AMD’s woes are continuing today with news that the company has hired JP Morgan Chase to explore its options — one of which is a sale of the company. Reuters cited three sources “familiar with the situation” who say that a complete sale of the company is not a priority. Instead, other options like selling of its portfolio of patents may be more likely.

AMD has long been in a battle with Intel for desktop and laptop processor dominance, but with the rise of mobile computing and the ARM chips that power them, AMD has suffered greatly. Last month several different reports said that the company may lay off up to 30 percent of its workforce, and earnings have consistently been disappointing.

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