AMD · 10-K · 2025A · Full report

Acquisition / Divestiture

ADVANCED MICRO DEVICES INC · 2026-02-04 · Importance 53 · Surprise 60

AMD completed the acquisition of ZT Systems in March 2025 for $3.2 billion in cash and 8.3 million shares, retaining select IP and employees (ZT Design Business). In October 2025 AMD sold the ZT Manufacturing Business to Sanmina for $2.4 billion in cash and 1.2 million shares of Sanmina common stock, with contingent cash consideration of up to $450 million payable through 2028 if conditions are met. AMD received $1.4 billion in cash, net of cash divested, and 1.2 million Sanmina shares valued at $154 million upon close of the sale and settled the contingent consideration liability with former ZT shareholders and warrant holders. AMD designated Sanmina as a preferred manufacturing partner for complex AI solutions and retained design IP and certain employees to support its AI strategy.