Chip Maker AMD Gets Emirate Cash

The government of Abu Dhabi, through its investment arm, bought an 8.1% stake in Advanced Micro Devices for $622 million. It will receive 49 million newly-issued AMD shares, but won't get any board representation. The computer chip maker desperately needs the cash after a $396 million loss during the third quarter, reports the Wall Street Journal.

Analysts gave the paper conflicting opinions on whether the money will make a long-term difference for the struggling Intel rival. But David Kirkpatrick predicts in Fortune that now AMD can "keep up its healthy annoyance of Intel" -- "pushing the boundaries of computing for all of our benefit" -- for at least awhile longer. (More Advanced Micro Devices stories.)