AMD Is Officially Leaving Intel in the Dust
The tech giant has superior chips and its purchase of Xilinx gives it entry into new lucrative markets.
AMD, under the leadership of CEO Lisa Su, has become the undisputed leader in chips.
Photographer: Bridget Bennett/BloombergNot only is business booming for Advanced Micro Devices Inc. The chip giant now even has the swagger to pull off a megadeal without breaking a sweat as it extends its lead over rival Intel Corp.
AMD on Tuesday posted better-than-expected third-quarter results and raised its revenue guidance for the current quarter, while also announcing a definitive agreement to acquire Xilinx Inc. for $35 billion in an all-stock deal, one of the biggest of the year. On an call with investors, AMD CEO Lisa Su said the takeover will enable the company to sell more of its chips to the aerospace-defense, industrial and telecommunications markets, where Xilinx has strong customer relationships.