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AMD chipmaking spinoff gets OK from U.S.

The Foundry Company gets the green light to go forward from the U.S. government.

Advanced Micro Devices' manufacturing spinoff got an all-clear from the U.S. government on Tuesday.

The Committee on Foreign Investment in the United States (CFIUS), part of the U.S. Treasury Department, gave the green light to AMD and the Advanced Technology Investment Company (ATIC) to create The Foundry Company, the manufacturing operations that AMD spun off back in October.

CFIUS has also determined that "the proposed additional investment in AMD by Mubadala is not a covered transaction subject to CFIUS review," according to AMD.

ATIC will own 65.8 percent of The Foundry Company and AMD 34.2 percent, according to a revised statement from AMD in December.

ATIC is a technology investment company wholly owned by the Government of Abu Dhabi. The Foundry Company will be a U.S.-headquartered chip manufacturing company with manufacturing facilities in Dresden, Germany. Future plans call for manufacturing facilities in Saratoga County, New York.