Former AMD CEO, GlobalFoundries Chairman Ruiz Ensnared in Insider Trading Case
AMD's former CEO fed illegal tips to current defendant
Two weeks ago, the U.S. Securities and Exchange Commission aired shocking charges in the largest insider trading case to date. The case nabbed an Intel Capital executive and IBM's head of hardware, Robert Moffat. Now another high profile name has been implicated in the case.
A criminal case filed in the Manhattan U.S. Attorney's office stated that an unnamed Advanced Micro Devices executive had passed insider stock tips to a defendant -- now that unnamed executive has been revealed to be none other than former AMD CEO Hector Ruiz. At the time when he allegedly passed information to defendant Danielle Chiesi, he had already stepped down from CEO and was serving as the company's Chairman.
Lawyers for Ms. Chiesi's lawyers refused comment, as did Mr. Ruiz. Mr. Ruiz is the largest name in the tech industry to be implicated in the case yet. Currently Mr. Ruiz is facing no criminal charges.
Allegedly Mr. Ruiz tipped Ms. Chiesi in 2008 that a major reorganization of AMD was about to occur. That reorganization was the spinoff of AMD's fabrication business and creation of the Abu Dhabai backed Globalfoundries Inc. Globalfoundries makes chips for AMD and other firms. Mr. Ruiz has served as its chairman since its founding.
Industry sources are confident that AMD is geting ready to axe a lot of jobs in Q1 2010. AMD already cut a lot of jobs in European operations in late 2008 and 2009 and it looks like the same strategy will continue in 2010.
We don't know any numbers, but AMD is preparing for a tough 2010, as when it comes to the CPU side, AMD falls behind Intel by a big margin and it will be next to impossible for AMD to make money in 2010.
Good times might start only in 2011, probably toward the end of it, as AMD should be ready to reveal its next generation CPU architecture codenamed Bulldozer. We hope that AMD won't lose too many good people, and the job cut will also affect US operations.
Intel has also augmented the integrated graphics portion of Clarkdale by adding extra execution units and higher clock-speeds when compared to presently-available GMA X4500.
As you can see, Clarkdale graphics are around 50 per cent faster than X4500, according to the Intel-provided numbers, above.
The upshot is 3D perf that is roughly analogous to AMD's 785G's, intimating that you will be able to play basic games at low-ish resolutions.