AMD to sell ZT Systems' manufacturing business to Sanmina in $3 billion deal

Chipmaker AMD agreed on Monday to sell the data center infrastructure manufacturing business of recently acquired ZT Systems to Sanmina in a $3 billion deal, making the contract manufacturer its partner for building AI computing systems. Under the terms of the agreement, Sanmina will pay $2.25 billion in cash, along with $300 million premium consisting of 50% cash and 50% equity. The deal also includes a $450 million contingent consideration based on financial performance of the business over the next three years.