AMD Sells, Rents Back Austin HQ

Posted by at 3:51 pm on March 13, 2013

AMD LogoChipmaker AMD has revealed that is is selling and leasing back the Austin, TX campus to generate a quick $164 million in cash to prop up the company. The company expected in November that it would be able to sell the 58-acre site for between $150 and $200 million. AMD has done this twice before — selling a Sunnyvale, CA site, as well as another site near Toronto, Ontario.

AMD is in a period of cost-cutting to stem the tide of red ink. The last year has seen AMD lay off 15 percent of its workforce, lose ex-CEO and then-CFO Thomas Seifert, and endure a loss of $157 million.

While many nalysts have been skeptical of AMD’s chances, AMD has revealed that it is producing parts for the PlayStation 4, is deploying the Temash system-on-a-chip, and has rolled out a new line of Radeon graphic processors in the last two months.

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