Abu Dhabi buys 8.1% of AMD

Abu Dhabi just like Dubai and Qatar are trying to start relying more on anything but oil, because they realize its not going to stay forever, this is not new tho, it have been happening for around a decade now in the region. We see Dubai’s government investing in different kind of industries from time to time, in addition of providing an open market on their land.

Abu Dhabi has bought what is thought to be 8.1% of AMD (Advanced Micro Devices), the price lies between $550 million and $700 million. The organization who actually made the purchase is Mubadala Development, which is a government funded organization.

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Comments November 17th, 2007