One Of AMD's Biggest Shareholders Just Unloaded Stock
According to Business Insider, on Monday one of AMD's largest shareholders, Mubadala Investment, disclosed that it sold 34.9 million shares in AMD.
The chipmaker's stock was down 3.15% to $23.37 apiece early Tuesday.
Mubadala, the investment arm of the Abu Dhabi government, said Monday in an emailed statement that it plans to convert 75 million warrants into equity of AMD, providing $448.5 million to the chipmaker.
Mubadala owned nearly 142 million AMD shares between 2014 and 2016 after buying the chipmaker's plants to create Globalfoundries, an American semiconductor foundry headquartered in Santa Clara, California.