Advanced Micro Devices Inc., the chipmaker struggling to take on Intel Corp., said Monday the U.S. Justice Department closed its investigation of pricing and marketing practices at its graphics-processors unit.
The agency disclosed the end of the probe Friday, AMD said in a statement. The Justice Department began investigating AMD's ATI Technologies Inc. unit and competitor Nvidia Corp. in 2006 as part of a price-fixing probe of the industry.
The $5.4 billion ATI acquisition was AMD's largest purchase ever and now dwarfs the company's market value of about $2.4 billion. The Sunnyvale, Calif.-based company hasn't posted a quarterly profit since October 2006, when it purchased the business.
AMD rose 4025 cents, or 10.56.6 percent, to close at $4.21 Monday$4.06 at 9:37 a.m. on the New York Stock Exchange and earlier advanced as much as 11 percent. The stock previously had fallen 49 percent this year. before today.
Michael Silverman, a spokesman for AMD, didn't immediately return a call seeking further comments before regular business hours.
AMD and Santa Clara, Calif.-based Nvidia rank behind Intel in sales of graphics chips.
Source : http://timesunion.com/
The agency disclosed the end of the probe Friday, AMD said in a statement. The Justice Department began investigating AMD's ATI Technologies Inc. unit and competitor Nvidia Corp. in 2006 as part of a price-fixing probe of the industry.
The $5.4 billion ATI acquisition was AMD's largest purchase ever and now dwarfs the company's market value of about $2.4 billion. The Sunnyvale, Calif.-based company hasn't posted a quarterly profit since October 2006, when it purchased the business.
AMD rose 4025 cents, or 10.56.6 percent, to close at $4.21 Monday$4.06 at 9:37 a.m. on the New York Stock Exchange and earlier advanced as much as 11 percent. The stock previously had fallen 49 percent this year. before today.
Michael Silverman, a spokesman for AMD, didn't immediately return a call seeking further comments before regular business hours.
AMD and Santa Clara, Calif.-based Nvidia rank behind Intel in sales of graphics chips.
Source : http://timesunion.com/
