SANTA CLARA, Calif., July 22, 2019 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced its annual corporate citizenship update, highlighting progress toward its environmental goals and community initiatives. The report features updates on expanded supply chain programs, sustainability goals, corporate volunteerism and stories showcasing how AMD technology is enabling researchers, students, consumers and business leaders to improve people's lives.
"As AMD celebrates its 50th anniversary this year, we are reflecting on our legacy of developing technologies that transform the world while working to minimize our environmental impact and strengthen the communities in which we live and operate," said Susan Moore, corporate vice president of government affairs and corporate responsibility at AMD. "We look forward to continuing to deliver high-performance technologies that improve lives and doing so in a way that benefits our communities and planet for the next 50 years and beyond."
Highlights from the report include how:
- AMD technology is enabling researchers and innovators to solve some of the world's toughest challenges - from genomics research to environmental changes. AMD will also power what is expected to be the world's fastest supercomputer, Frontier, when it is delivered in 2021, enabling exascale-class research at Oak Ridge National Laboratory.
- AMD continues to invest in strengthening an inclusive environment where all employees feel a sense of belonging. As a result, AMD was included in the 2019 Bloomberg Gender-Equality Index and again achieved a 100% score on the Human Rights Campaign Foundation's Corporate Equality Index for 2019.
- AMD employees worldwide volunteered a total of 15,324 hours to advance science, technology, engineering and math (STEM) education and community needs in company-sponsored volunteer events - a 49% increase in volunteer hours over the previous year.
- AMD continued making progress toward its 2020 climate goals in 2018, including launching its fastest, most energy efficient mobile processor and sourcing 27 million kilowatt hours of renewable energy, enough to power 3,300 U.S. homes for a year1.
- AMD expanded its supply chain risk assessment efforts, including supplier outreach, data collection, and external reporting, with a focus on better ensuring all workers are treated with respect and that working conditions are safe.
- AMD is honored to be ranked on JUST Capital's Most JUST Companies in America for the second consecutive year, as well as their Top 100 U.S. Companies Supporting Healthy Communities and Families for 2019.
For 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies ― the building blocks for gaming, immersive platforms and the datacenter. Hundreds of millions of consumers, leading Fortune 500 businesses and cutting-edge scientific research facilities around the world rely on AMD technology daily to improve how they live, work and play. AMD employees around the world are focused on building great products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ:AMD) website, blog, Facebook and Twitter pages.
This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. ( AMD ) including features, functionality, availability, timing, deployment and expectations of an EPYC™ and Radeon™ based exascale system, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "intends," "believes," "expects," "may," "will," "should," "seeks," "intends," "plans," "pro forma," "estimates," "anticipates," or the negative of these words and phrases, other variations of these words and phrases or comparable terminology. Investors are cautioned that the forward-looking statements in this document are based on current beliefs, assumptions and expectations, speak only as of the date of this document and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation's dominance of the microprocessor market and its aggressive business practices may limit AMD's ability to compete effectively; AMD has a wafer supply agreement with GLOBALFOUNDRIES Inc. (GF) with obligations to purchase all of its microprocessor and APU product requirements, and a certain portion of its GPU product requirements, manufactured at process nodes larger than 7 nanometer from GF with limited exceptions. If GF is not able to satisfy AMD's manufacturing requirements, AMD's business could be adversely impacted; AMD relies on third parties to manufacture its products, and if they are unable to do so on a timely basis in sufficient quantities and using competitive technologies, AMD's business could be materially adversely affected; failure to achieve expected manufacturing yields for AMD's products could negatively impact its financial results; the success of AMD's business is dependent upon its ability to introduce products on a timely basis with features and performance levels that provide value to its customers while supporting and coinciding with significant industry transitions; if AMD cannot generate sufficient revenue and operating cash flow or obtain external financing, it may face a cash shortfall and be unable to make all of its planned investments in research and development or other strategic investments; the loss of a significant customer may have a material adverse effect on AMD; AMD's receipt of revenue from its semi-custom SoC products is dependent upon its technology being designed into third-party products and the success of those products; global economic and market uncertainty may adversely impact AMD's business and operating results; AMD's products may be subject to security vulnerabilities that could have a material adverse effect on AMD; IT outages, data loss, data breaches and cyber-attacks could compromise AMD's intellectual property or other sensitive information, be costly to remediate and cause significant damage to its business, reputation and operations; AMD's operating results are subject to quarterly and seasonal sales patterns; AMD may not be able to generate sufficient cash to service its debt obligations or meet its working capital requirements; AMD has a large amount of indebtedness which could adversely affect its financial position and prevent it from implementing its strategy or fulfilling its contractual obligations; the agreements governing AMD's notes and the Secured Revolving Line of Credit impose restrictions on AMD that may adversely affect AMD's ability to operate its business; the markets in which AMD's products are sold are highly competitive; AMD's worldwide operations are subject to political, legal and economic risks and natural disasters, which could have a material adverse effect on it; the conversion of the 2.125% Convertible Senior Notes due 2026 may dilute the ownership interest of AMD's existing stockholders, or may otherwise depress the price of its common stock; uncertainties involving the ordering and shipment of AMD's products could materially adversely affect it; the demand for AMD's products depends in part on the market conditions in the industries into which they are sold. Fluctuations in demand for AMD's products or a market decline in any of these industries could have a material adverse effect on its results of operations; AMD's ability to design and introduce new products in a timely manner is dependent upon third-party intellectual property; AMD depends on third-party companies for the design, manufacture and supply of motherboards, software and other computer platform components to support its business; if AMD loses Microsoft Corporation's support for its products or other software vendors do not design and develop software to run on AMD's products, its ability to sell its products could be materially adversely affected; and AMD's reliance on third-party distributors and add-in-board partners subjects it to certain risks. Investors are urged to review in detail the risks and uncertainties in AMD's Securities and Exchange Commission filings, including but not limited to AMD's Quarterly Report on Form 10-Q for the quarter ended March 30, 2019.
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1 According to the EPA Green House Gasses Equivalencies Calculator, https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator
Source: Advanced Micro Devices