Advanced Micro Devices is in advanced talks to buy rival chip maker Xilinx, said people familiar with the matter, in a deal that could be valued at more than $30 billion
Advanced Micro Devices Inc. is in advanced talks to buy rival chip maker Xilinx Inc., according to people familiar with the matter, in a deal that could be valued at more than $30 billion and mark the latest big tie-up in the rapidly consolidating semiconductor industry.
The companies are discussing a deal that could come together as soon as next week, the people said. There is no guarantee they will get there, especially given that the talks had stalled before recently restarting, according to some of the people. AMD’s market value now tops $100 billion after its shares soared 89% this year as the coronavirus pandemic stokes demands for PCs, gaming consoles and other devices that use the company’s chips. Second-quarter revenue rose 26% to $1.93 billion, while net income jumped more than fourfold to $157 million on the back of record notebook and server-processor sales, AMD said.could embolden the company to make an acquisition using its stock as currency.
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