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Intel denies seeking to derail AMD spinoff

Intel Corporation to agree to make public the patent cross-licensing agreement which the Santa Clara, Calif.-based chip giant is arguing should not cover the soon-to-be created entity called The Foundry Co. AMD is creating the new company in a joint venture with the Advanced Technology Investment Co. of Abu Dhabi and the Mubadala Development Co. and as part of the Sunnyvale, Calif.-based giant’s “asset smart” strategy. But in a Thursday filing with the Securities and Exchange Commission, AMD disclosed that Intel had sent a letter raising legal questions on the impact of the plan and accused its rival of trying to derail the spinoff. “We believe that the letter is another attempt by our competitor to cause uncertainty as we approach our Asset Smart deal closing next month,” AMD spokesman Drew Prairie said in an e-mail sent Thursday. Chart of INTC. Intel spokesman Chuck Mulloy denied the accusation, firing back, “They are free to do whatever they want. I’ve said many times before that it doesn’t matter to us wh...
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