Microchip designer Advanced Micro Devices
AMD, which competes against Intel
AMD said in a filing it amended its funding and shareholders' agreements with ATIC, that its stake in GlobalFoundries was 14 percent, and that it would begin accounting for its investment in the company using the cost method.
By shedding most of capital-intensive GlobalFoundries, AMD is focusing on designing microprocessors and graphics cards. It has said it would not invest further in the manufacturer.
Shares of AMD were unchanged at $8.05 in after hours trading after edging up 1 cent during the regular trading session.
(Reporting by Noel Randewich; Editing by Tim Dobbyn)