AMD wants to sell and lease back its campus in Austin, Texas, to raise some cash.
The fabless chipmaker thinks that it can make $150 million selling the 58-acre site.
Company spokesperson Drew Prairie told X-Bit that while the chip industry is in the doledrums, there were favourable economic conditions in the part of Austin where the campus is located.
If the company can find an investor who wants to do a multiyear lease-back, it’s a good opportunity for AMD to unlock the value of the real estate to fund operations, Prairie said.
AMD has its HQ in Sunnyvale, California, and a building near Toronto which were both sold and leased back, Prairie said.
The company has been looking at lots of different options to raise money as the chip industry has tanked. These include restructuring and gettting rid of its engineers. There have been some worries that AMD might not have the talent left in the building to create new products when the economy picks up.
AMD Chief Executive Rory Read told investors that the US Thanksgiving weekend was encouraging for PC sales. However, he warned that the PC industry still faces long-term problems. He did not think that the PC market, which accounts for about 85 percent of AMD’s business, will get any better for several quarters.