AMD +1.3% AH after announcing it has amended its chip wafer purchase deal with Globalfoundries...

|By:, SA News Editor
AMD +1.3% AH after announcing it has amended its chip wafer purchase deal with Globalfoundries to reflect its slumping volumes. AMD says it will now buy $115M worth of wafers from its former chip foundry spinoff in Q4 and $1.15B in 2013, and will make a $320M termination payment related to the move. AMD will also cut its payments to Globalfoundries for certain R&D expenses. The chipmaker says these moves will help it return to positive free cash flow in 2H13.