Northland Believes AMD And Intel Licensing Agreement Is Exceedingly Valuable

"While change in control would invalidate the existing cross license agreement, we think in most circumstances Intel would be very willing to renew the agreement with a buyer of AMD as it owns several key patents used in modern x86 processors. Finally, we think the likely buyer is China Inc. as China wants its IT infrastructure to be secure and controllable and needs to be owned by domestic companies. Another potential acquirer would be XLNX as it would combine FPGA and x86 making a viable second source for CPUs in the data center market"