AMD closes record chip industry deal with estimated $50 billion purchase of Xilinx

FILE PHOTO: Staff members stand at a Xilinx Inc booth at the Mobile World Congress (MWC) in Shanghai, China February 23, 2021. REUTERS/Aly Song/File Photo

OAKLAND, Calif. (Reuters) - Semiconductor designer Advanced Micro Devices Inc (AMD) said on Monday it has finalized the purchase of Xilinx Inc in a record chip industry deal valued at about $50 billion, giving it an extra edge in the key data center market.

The closing of the deal comes on the heels of Nvidia Corp's decision to abandon its plans to buy SoftBank-owned Arm Ltd, citing regulatory hurdles.