Intel Corp (INTC)

[Elmer Phud]

Looks like AMD and Intel will be headed back to Court:

Advanced Micro Devices Inc. has reached a deal to allow a new joint venture in China to produce chips there using proprietary technology long considered the crown jewel of AMD and its rival Intel Corp.

The move, which could spur opposition from Intel, underscores AMD's pressing search for new revenue following its long-running struggle in the microprocessor market. It also reflects China's high-profile quest to become less dependent on foreign technology, using investments and acquisitions that at times have prompted U.S. government scrutiny.

Under the deal, AMD said it had licensed x86 chip technology to a new venture it is forming with Tianjin Haiguang Advanced Technology Investment Co., which will use the technology to develop chips for server systems to be sold only in China. In exchange, AMD said it expects to receive $293 million in licensing fees plus royalties on sales of any chips developed by the venture.

Another "Hail Mary" signaling utter desperation.