Despite rumors of an Oracle purchase, AMD is not up for sale.
Last month Oracle CEO Larry Ellison said during an analyst meeting that the software company may purchase chip manufacturers without specifying likely targets. Ellison added that "silicon is important," and that the company was focused on building its intellectual property portfolio.
Speculations arose, causing shares of ARM Holdings Plc to rise 6.1-percent after the comment while Nvidia took in a nice 3.9-percent jump. AMD shares also shuffled thanks to growing rumors that Ellison had his eye on the second largest x86 CPU manufacturer, however AMD's CEO has now set the story straight.
"AMD is not for sale, but we are happy to listen to any proposal which is in the interest to our shareholders," Chief Executive Dirk Meyer said Wednesday during his keynote address at the Canalys Channels Forum 2010 event in Barcelona, Spain. Meyer must leave the proposal option open for shareholders as AMD is a public company.
Four years ago ATI CEO Dave Orton had a similar stance against an acquisition before AMD assimilated the GPU manufacturer for $5.4 billion in July 2006.
Wednesday AMD shares were up 5 cents (0.7-percent) to $7.03.