ATIC moves to buy out GlobalFoundries

[lopri]

I actually like this very revealing thread. :twisted:

 

[hans007]

Middle Eastern (Arabic) company, most likely using oil money.

ATIC is basically the venture capital arm of the government of the arab amirates.


The arabs know that oil will not be there forever and they are diversifying into other industries. This is along the same vein as the abu dhabi ports deal.

I have 0 problem with buying stuff made by arabs, and I do not get the anti arab sentiment in this thread. THey are just trying to ensure some sort of future for their nation, given they are in the middle of the desert and their one export will eventually run out.

If you guys are going to not buy stuff from someone there are plenty of other countries such as say china, that makes EVERYTHING that also have reasons to not support them, but of course i'm sure there are plenty of ill informed idiots in america who think the word middle east or arab and immediately think osama bin laden is making their cpus.

 

[hans007]

How is them building a fab in NY, the state of NY funding them? If anything, arab money is funding the state of NY, not the other way around

I believe amd /gf is getting a huge tax subsidy or something like that. So indirectly NY is funding them since they will not have to pay those taxes. but lots of states do that, why do you think all the hyundai / bmw plants etc are in the south now.

 

[Kuzi]

It also means NY state is funding Arabs who have Alot of money . Sad we help Arabs fund . But what of american companies that could use that funding . I new this is how this would turn out . NY state is broke and now it seems it is funding Rich arab nations LOL.

Well not all Arab countries are rich and have a lot of money, there are 21 Arabic countries and only a few of them have lots of oil and can be called rich. And the Fab that will be built in NY will open up jobs for U.S citizens and the chips produced there will be made in the U.S. I'd say that is better than Intel produced chips in Israel.

Agreed, I am Indian and I have no problems buying American, European or Asian but Arab sorry Intel it is for me from now on, just wish Nvidia would come out with a low power graphics card.

I really don't get this kind of mentality. So you won't buy chips made in Germany and the U.S just because an Arabic company owns a majority stake in the manufacturer? For your information, millions of Indians work/live in the Middle East because they can have a much better life there than in India.

Did you guys know that Al-Walid Bin Talal, a prince from Saudi Arabia, owns 5% of Apple. OMG, Macs & iPhones are made by Arabs!?! He also owns large stakes in Motorola, Citigroup, AOL and others companies, OMG the HORROR

 

[Lonyo]

Well not all Arab countries are rich and have a lot of money, there are 21 Arabic countries and only a few of them have lots of oil and can be called rich. And the Fab that will be built in NY will open up jobs for U.S citizens and the chips produced there will be made in the U.S. I'd say that is better than Intel produced chips in Israel.



I really don't get this kind of mentality. So you won't buy chips made in Germany and the U.S just because an Arabic company owns a majority stake in the manufacturer? For your information, millions of Indians work/live in the Middle East because they can have a much better life there than in India.

Did you guys know that Al-Walid Bin Talal, a prince from Saudi Arabia, owns 5% of Apple. OMG, Macs & iPhones are made by Arabs!?! He also owns large stakes in Motorola, Citigroup, AOL and others companies, OMG the HORROR

He's an investor who also has investments in the recognized international names of Four Seasons Hotels and Resorts, George V Hotel in Paris, Fairmont Raffles International Inc., Mövenpick Hotels & Resorts, Songbird Estates (Canary Wharf), Apple Inc., Time Warner, News Corp., Walt Disney, Euro Disney, PepsiCo, Procter & Gamble, Motorola, Hewlett Packard and Eastman Kodak, among others.

Don't use the internet, don't watch TV, don't drink, don't use toiletries, don't print, don't go on holiday.

 

[Aaluran]

To sum up, the world is already one global village, [I tried to think of a non-insulting epithet for all you "patriots" and failed]. Practically everything you use, eat, wear and wipe your ass with includes another country somewhere in its production or supply line, and there's nothing you can do about it. And you know what? You shouldn't. Humanity didn't defeat all its predators and pretty much master its planet by isolating themselves in tiny societies, but by coming together. And if it weren't for all those foreigners your everything would cost several times as much as it does now. YOU benefit from stuff made in other countries. The workers at the american plants and foundries and whatnot benefit from stuff made in other countries. I literally cannot express how absurd such "patriotism" is strongly enough.

Sorry for the excessive ranting but crap like what's on this thread just pisses me off.

PS: And for a fun history "Did you know that..." - A great deal of ancient (Greek and Roman) literature reached modern times thanks to its translation to arabic, which kept it from being lost in the Dark ages. Yes, if it weren't for the Middle East (and India), human technology would be minus a ton of knowledge and back a few centuries right now. Don't equate a few madmen to the entire population (or significance) of the Middle east.

And to (finally) get on topic - I wonder what's going to happen to GF in the next five-year? Can they make their a good deal for other customers? Somehow I don't see it unless ATIC or whoever dumps a whole lot of money in them to get them on their feet.

 

[Kuzi]

Don't use the internet, don't watch TV, don't drink, don't use toiletries, don't print, don't go on holiday.

hehe true

But I really don't believe AMD would sell all their stake in GlobalFoundries, maybe just lower it, if needed.

 

[Lonyo]

To sum up, the world is already one global village, [I tried to think of a non-insulting epithet for all you "patriots" and failed]. Practically everything you use, eat, wear and wipe your ass with includes another country somewhere in its production or supply line, and there's nothing you can do about it. And you know what? You shouldn't. Humanity didn't defeat all its predators and pretty much master its planet by isolating themselves in tiny societies, but by coming together. And if it weren't for all those foreigners your everything would cost several times as much as it does now. YOU benefit from stuff made in other countries. The workers at the american plants and foundries and whatnot benefit from stuff made in other countries. I literally cannot express how absurd such "patriotism" is strongly enough.

Sorry for the excessive ranting but crap like what's on this thread just pisses me off.

PS: And for a fun history "Did you know that..." - A great deal of ancient (Greek and Roman) literature reached modern times thanks to its translation to arabic, which kept it from being lost in the Dark ages. Yes, if it weren't for the Middle East (and India), human technology would be minus a ton of knowledge and back a few centuries right now. Don't equate a few madmen to the entire population (or significance) of the Middle east.

And to (finally) get on topic - I wonder what's going to happen to GF in the next five-year? Can they make their a good deal for other customers? Somehow I don't see it unless ATIC or whoever dumps a whole lot of money in them to get them on their feet.

They already bought out Chartered and made them a subsidiary of GF (for $3.9bn), so yeah, they are dumping a whole lot of money in them above just running the existing AMD operations.

 

[yh125d]

I believe amd /gf is getting a huge tax subsidy or something like that. So indirectly NY is funding them since they will not have to pay those taxes. but lots of states do that, why do you think all the hyundai / bmw plants etc are in the south now.

I see





It still takes pretty thick glasses to see that as "NY is funding arabs". They do stuff like that to ensure that the plant there gets built (that will be a TON of well paid skilled jobs for americans in NY). It's less that "NY is funding arabs" and more like "NY is giving arabs $5 so that they give NY/american workers millions (billions?) of dollars in business and jobs"

 

[Aaluran]

They already bought out Chartered and made them a subsidiary of GF (for $3.9bn), so yeah, they are dumping a whole lot of money in them above just running the existing AMD operations.

I didn't know that. I guess we'll see if it'll be worth it soon. I still think GF was set up to take most of AMD's debt (incurred large part in fab upkeep, of course) and go down without taking AMD with it (unless they really get lucky with customers), but maybe the "ZOMG terrible arabs" have a better plan for it. What do I know, finance is definitely not one of my strong points. Seems like a cash sinkhole so far as I can tell, though.