DUBLIN, Ireland, June 21, 2023 (GLOBE NEWSWIRE) -- AMD (NASDAQ: AMD) today announced plans for continued growth in Ireland through an investment of up to $135 million over four years. The investment is intended to fund several strategic R&D projects through the addition of up to 290 highly skilled engineering and research positions, as well as a broad range of additional support roles.
The development is being formally announced in Dublin today by Minister for Enterprise, Trade and Employment, Simon Coveney TD, and Ruth Cotter, senior vice president, Marketing, Communications and Human Resources at AMD. The new investment is supported by the Irish government through IDA Ireland.
"I warmly welcome the ambitious plans of AMD to expand their advanced R&D and engineering operations in Ireland. This significant investment will not only bolster our thriving technology sector but also create long-term career opportunities for both highly experienced professionals and new graduates from engineering disciplines. The company’s plans to add up to 290 new positions and its funding of strategically important R&D projects demonstrate its confidence in Ireland's supportive enterprise environment and infrastructure. The Irish government, through IDA Ireland, is delighted to support this expansion, further solidifying our commitment to nurturing a vibrant ecosystem for research, development, and engineering,” said Simon Coveney TD, Minister for Enterprise, Trade and Employment.
“From the cloud and PCs to communications and intelligent end points, AMD’s high-performance and adaptive computing solutions play an increasingly larger role in shaping the future of computing today. For nearly three decades, Ireland has been a flagship European R&D centre developing adaptive computing solutions, drawing from a strong and highly-skilled workforce. By further investing and expanding our presence in Dublin and Cork, we are committed to continuing to both drive innovation in Ireland and to support the European semiconductor ecosystem. Through this investment, our R&D teams in Ireland will design innovative high-performance and adaptive computing engines to accelerate data centre, networking, 6G communications and embedded solutions while taking a leadership position on artificial intelligence,” said Ruth Cotter, senior vice president, Marketing, Communications and Human Resources at AMD.
Prior to the acquisition of Xilinx by AMD in 2022, Xilinx partnered with IDA Ireland on a number of occasions to advance semiconductor innovation in Ireland. Most recently, in 2017, Xilinx announced a $40 million investment to expand its research, development and engineering operations, as well as recruit over 100 new skilled employees.
“This investment will continue to push the boundaries of what is possible while contributing further to Ireland's position as a global technology leader. This expansion further strengthens the company’s presence in Ireland as a leading centre of semiconductor innovation and puts Ireland at the heart of AMD’s European research and engineering operations. IDA Ireland has been proud to support AMD and previously Xilinx for nearly three decades and is committed to supporting investments of scale that impact positively on Europe’s semiconductor industry,” said Michael Lohan, chief executive officer, IDA Ireland.
The Irish site was first established in 1994 as the first purpose-built Xilinx site outside of the U.S. and began its operations a year later with a focus on manufacturing, operations support, engineering and administration services. Since the acquisition of Xilinx, Ireland is now home to one of the largest AMD R&D sites in Europe with a strong record of delivering products with significant commercial success, such as the AMD Zynq™ UltraScale+™ RFSoC semiconductor product family.
For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and Twitter pages.
This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as AMD’s plans to invest $135 million over the next four years to fund R&D projects; AMD’s plans to add up to 290 engineering, research, and support positions; expected growth of AMD in Ireland; and the expected activities of AMD’s R&D and engineering operations in Ireland, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; global economic uncertainty; cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; loss of a significant customer; impact of the COVID-19 pandemic on AMD’s business, financial condition and results of operations; competitive markets in which AMD’s products are sold; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to introduce products on a timely basis with expected features and performance levels; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyber-attacks; potential difficulties in upgrading and operating AMD’s new enterprise resource planning system; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products in a timely manner; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of government actions and regulations such as export administration regulations, tariffs and trade protection measures; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals-related provisions and other laws or regulations; impact of acquisitions, joint ventures and/or investments on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets on the combined company’s financial position and results of operation; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit facility; AMD's indebtedness; AMD's ability to generate sufficient cash to meet its working capital requirements or generate sufficient revenue and operating cash flow to make all of its planned R&D or strategic investments; political, legal, economic risks and natural disasters; future impairments of goodwill and technology license purchases; AMD’s ability to attract and retain qualified personnel; AMD’s stock price volatility; and worldwide political conditions. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.
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