By Matt Grossman

 

Advanced Micro Devices Inc. shares and Xilinx Inc. shares moved in opposite directions Friday morning following a Wall Street Journal report that AMD was in advanced talks to buy Xilinx.

In premarket trading, Xilinx shares rose 17.27% to $124.29, while AMD shares declined 4.7% to $82.

AMD's potential acquisition of rival chip maker Xilinx could be valued at more than $30 billion, the Journal reported. The deal could come together next week, but there is no guarantee of an agreement, people familiar with the matter told the Journal.

 

Write to Matt Grossman at matt.grossman@wsj.com

 

(END) Dow Jones Newswires

October 09, 2020 06:38 ET (10:38 GMT)

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