SANTA CLARA, Calif., May 19, 2021 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) today announ­ced that its Board of Direc­tors appro­ved a new share repurcha­se pro­gram. Under this pro­gram, the com­pa­ny intends to repurcha­se up to $4 bil­li­on of out­stan­ding AMD com­mon stock. AMD expects to fund repurcha­ses through cash gene­ra­ted from ope­ra­ti­ons which have been streng­the­ned by the company’s strong ope­ra­tio­nal results.

“Today’s announce­ment reflects our con­fi­dence in AMD’s busi­ness and the suc­cessful exe­cu­ti­on of our mul­ti-year growth stra­tegy,” said Dr. Lisa Su, AMD pre­si­dent and CEO. “Our strong finan­cial results and gro­wing cash gene­ra­ti­on enable us to invest in the busi­ness and begin retur­ning capi­tal to our shareholders.”

Under this pro­gram, which is desi­gned to return value to AMD stock­hol­ders, off­set dilu­ti­on from stock issu­an­ces, and redu­ce share count over time, the com­pa­ny will repurcha­se stock in the open mar­ket. This repurcha­se pro­gram has no ter­mi­na­ti­on date and may be sus­pen­ded or dis­con­tin­ued at any time.

About AMD
For more than 50 years, AMD has dri­ven inno­va­ti­on in high-per­for­mance com­pu­ting, gra­phics and visua­liza­ti­on tech­no­lo­gies – the buil­ding blocks for gam­ing, immersi­ve plat­forms and the data cen­ter. Hundreds of mil­li­ons of con­su­mers, lea­ding For­tu­ne 500 busi­nesses and cut­ting-edge sci­en­ti­fic rese­arch faci­li­ties around the world rely on AMD tech­no­lo­gy dai­ly to impro­ve how they live, work and play. AMD employees around the world are focu­sed on buil­ding gre­at 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, Face­book and Twit­ter pages.

Cau­tio­na­ry Statement
This press release con­ta­ins for­ward-loo­king state­ments con­cer­ning Advan­ced Micro Devices, Inc. (AMD) inclu­ding tho­se rela­ted to AMD’s inten­ded share repurcha­ses and expec­ted share­hol­der bene­fits; expec­ted fun­ding through cash gene­ra­ted from ope­ra­ti­ons; AMD’s con­fi­dence in its busi­ness and suc­cessful exe­cu­ti­on of its mul­ti-year growth stra­tegy; and AMD’s finan­cial results and cash gene­ra­ti­on„ 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; the loss of a signi­fi­cant cus­to­mer; the impact of the COVID-19 pan­de­mic on AMD’s busi­ness, finan­cial con­di­ti­on and results of ope­ra­ti­ons; the com­pe­ti­ti­ve mar­kets in which AMD’s pro­ducts are sold; quar­ter­ly and sea­so­nal sales pat­terns; mar­ket con­di­ti­ons of the indus­tries in which AMD pro­ducts are sold; the cycli­cal natu­re of the semi­con­duc­tor indus­try; AMD’s abili­ty to ade­qua­te­ly pro­tect its tech­no­lo­gy or other intellec­tu­al pro­per­ty; unfa­vorable cur­ren­cy exch­an­ge rate fluc­tua­tions; the abili­ty of third par­ty manu­fac­tu­r­ers to manu­fac­tu­re AMD’s pro­ducts on a time­ly basis in suf­fi­ci­ent quan­ti­ties and using com­pe­ti­ti­ve tech­no­lo­gies; the avai­la­bi­li­ty of essen­ti­al equip­ment, mate­ri­als, sub­stra­tes or manu­fac­tu­ring pro­ces­ses; expec­ted manu­fac­tu­ring yields for AMD’s pro­ducts; AMD’s abili­ty to intro­du­ce pro­ducts on a time­ly basis with fea­tures and per­for­mance levels that pro­vi­de value to its cus­to­mers; AMD’s abili­ty to gene­ra­te reve­nue from its semi-cus­tom SoC pro­ducts; poten­ti­al secu­ri­ty vul­nerabi­li­ties; poten­ti­al IT outa­ges, data loss, data brea­ches and cyber-attacks; 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 the design, manu­fac­tu­re and sup­p­ly of mother­boards, soft­ware and other com­pu­ter plat­form com­pon­ents; AMD’s reli­ance on Micro­soft Cor­po­ra­ti­on 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; the 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; the effi­ci­en­cy of AMD’s sup­p­ly chain; AMD’s abili­ty to rely on third par­ty sup­p­ly-chain logi­stics func­tions; AMD’s abili­ty to effec­tively con­trol the sales of its pro­ducts on the gray mar­ket; the 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; the impact of envi­ron­men­tal laws, con­flict mine­rals-rela­ted pro­vi­si­ons and other laws or regu­la­ti­ons; the impact of acqui­si­ti­ons, joint ven­tures and/or invest­ments on AMD’s busi­ness, inclu­ding the announ­ced acqui­si­ti­on of Xilinx, and the fail­ure to inte­gra­te acqui­red busi­nesses; AMD’s abili­ty to com­ple­te the Xilinx mer­ger; the impact of the announce­ment and pen­den­cy of the Xilinx mer­ger on AMD’s busi­ness; the impact of any impair­ment of the com­bi­ned company’s assets on the com­bi­ned company’s finan­cial posi­ti­on and results of ope­ra­ti­on; the rest­ric­tions impo­sed by agree­ments gover­ning AMD’s notes and the revol­ving cre­dit faci­li­ty; AMD’s indeb­ted­ness; AMD’s abili­ty to gene­ra­te suf­fi­ci­ent cash to ser­vice its debt obli­ga­ti­ons or meet its working capi­tal requi­re­ments; AMD’s abili­ty to repurcha­se its out­stan­ding debt in the event of a chan­ge of con­trol; AMD’s abili­ty to gene­ra­te suf­fi­ci­ent reve­nue and ope­ra­ting cash flow or obtain exter­nal finan­cing for rese­arch and deve­lo­p­ment or other 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.

Media Cont­act:
Drew Prai­rie
AMD Communications
512–602-4425
drew.prairie@amd.com 

Inves­tor Contact:
Lau­ra Graves
AMD Inves­tor Relations
408–749-5467
laura.graves@amd.com