AMD enters advanced talks with Xilinx for a potential buyout

The Wall Street Journal reported Advanced Micro Devices Inc (NASDAQ: AMD) to have entered advanced talks with Xilinx Inc (NASDAQ: XLNX) on Thursday for a potential buyout. AMD is expected to invest over £23 billion to acquire its rival chipmaker. AMD opened about 2% down on Friday and slid another 1% before the market close. Including the price action, shares of the company are now trading at £63.70 per share that represents a massive 120% growth since March when the Coronavirus pandemic had pushed the stock down to as low as £29.67 per share. AMD is currently valued at £75