The head of chip maker Advanced Micro Devices Inc. is celebrating a $1.45 billion antitrust fine by the European Union against its rival, Intel Corp.

Intel will appeal the commission’s decision to the EU courts in Luxembourg.

AMD's CEO, Dirk Meyer, said the European Union ruling against Intel should mark the end of its rule over European markets and is an important step toward establishing a truly competitive market, according to the Associated Press.

Following an eight-year investigation, the EU Competition Commissioner Neelie Kroes said Wednesday that Intel’s conduct harmed millions of consumers by giving rebates to PC makers that buy all or almost all of their chips from Intel instead of other chipmakers.

“Such a serious and sustained violation of the EU’s antitrust rules cannot be tolerated,” Kroes said in a statement.

The computer makers that were persuaded not use AMD’s chips included Acer Inc., Dell Inc., Hewlett-Packard Co., Lenovo Group Ltd. and NEC Corp., the commission said.

Intel has about 80 percent of the world's market for computer microprocessors, while AMD has almost the remainder, apart from other smaller competitors.

AMD, founded in 1969 and now enduring one of the worst slumps in its history, has sued over Intel's tactics and complained to regulators for years.

Meanwhile, Giuliano Meroni, president of AMD’s European unit, said in a statement that the decision “will shift the power from an abusive monopolist to computer makers, retailers and above all PC consumers.”