AMD has had some of the biggest ups and downs in the industry these last few years and this is surely only a sign of other troubles within the company as they seek to quickly raise their cash stockpile by selling their Austin, Texas campus then lease it back from the buyer. It is a sound move in some ways and it will raise a whopping $164 million in cash for the company, but it is never a good sign for a company’s long term future when they start selling the bricks and mortar under them. Of course, AMD aren't the only high profile company to make this move as it is something that has been attempted by both Sony and Nokia in recent years.
AMD have been called un-investable, have had a few terrible business quarters, lost their CFo, Michael Silverman and been butting heads with both Intel and NVIDIA on the CPU and GPU battlefields, it's certainly been a tough time for the company. However, this tough period is not without its silver lining and AMD has had a bit of luck recently with their Richland mobile APU and some solid announcements of upcoming hardware that seems to have the industry excited.
Most notably for AMD is their participation in the PlayStation 4 hardware, with its custom APU. While this will no doubt bring a lot of money in for AMD, it is likely that it will be a staggered deal that will see a flow of cash to the company over a period of time - something that is not going to help them much right now given that Sony has yet to sell a single unit and are not exactly rolling in cash themselves.
How all this will play out, only time will tell, but personally I hope AMD pull through on this one - the industry would be pretty dull with only one major CPU or GPU manufacturer.