The details are sketchy and mostly involve the recent departures of high level employees from AMD, CEO Dirk Meyer in January and the COO Robert Rivet early in February.  The lack of current leadership implies to some tech wonks that perhaps AMD is looking for more than just new leadership.  The interim CEO is the once CFO Thomas Seifert, who has publicly stated that he does not want to continue in that leadership role.  Read the speculation at Slashdot.

Attention Rumour Mongers:  Dell might want to buy AMD - General Tech  1 

“Advanced Micro Devices may be up for sale. AMD’s shares were significantly up yesterday, apparently on rumors that Dell is interested in buying the American multinational semiconductor company. If AMD ends up being bought out, the purchase by Dell, or any other company for that matter, would be among the biggest the technology industry has seen. It would be of course bigger than when AMD bought ATI in 2006.”

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