Just a month after AMD announced layoffs that would affect 15 percent of its workforce, the struggling PC processor and graphics maker is rumored to have hired a bank to help it work through some future options.
Reuters reports, via unnamed sources, that AMD has brought in JPMorgan Chase & Co to assist in coming up with some financial choices. One of them could be a all out sale of the company itself. However, the report claims that option is not AMD"s first choice and the company might just sell off other parts of itself to stay afloat, including some of its patents. AMD has not commented on these rumors.
AMD is certainly in trouble as the number two maker of PC processors has not only lost ground to its main rival, Intel, but also has suffered through the overall decline of the PC market itself. The company"s Radeon graphics chip business has also been far behind NVIDIA, but the company will have a version of the Radeon graphics processor inside the upcoming Wii U game console. There are also rumors that AMD processors will be inside the successor to Microsoft"s Xbox 360 console along with Sony"s next Playstation product.
Update: The Verge reports it has received an internal email sent out to AMD employees by its CEO Rory Read, who claims " ... we are not actively pursuing the sale of AMD or any of our significant assets."
Source: Reuters | Image via AMD