Cross words
AMD made a short filing with the SEC (Securities and Exchange Commission) today in which it revealed that it had received correspondence from CPU rival Intel.
The filing went on to say: "In this correspondence, Intel (i) alleges that the Company [AMD] has committed a material breach of the Cross License through the creation of the Company's GLOBALFOUNDRIES joint venture and (ii) purports to terminate the Company's rights and licenses under the Cross License in 60 days if the alleged breach has not been corrected.
In the subsequent and final paragraph of the filing AMD stressed, as it has before, that it doesn't think it has breached the terms of the cross license and, furthermore, it doesn't think Intel has the right to terminate AMD's rights under the agreement anyway.
There then follows a sentence so long and convoluted that Donald Rumsfeld would be proud to have uttered it. "In addition, the Company has informed Intel that the Company maintains that Intel's purported attempt to terminate the Company's rights and licenses under the Cross License itself constitutes a material breach of the Cross License by Intel which gives the Company the right to terminate Intel's rights and licenses under the Cross License Agreement while retaining the Company's rights and licenses under the Cross License Agreement."
...and breathe.
