AMD (AMD) Officially Denies Tesla (TSLA) Rumors

AMD (NYSE: AMD) has officially denied that there is any chip deal with Tesla (NASDAQ: TSLA), as reported by CNBC Wednesday evening.

Despite comments from a Globalfoundries spokesperson this morning denying a deal between it and Tesla, there was still hope among AMD bulls that there was some sort of direct IP deal between AMD and Tesla that would bypass their contract chip manufacturer. This too has now been denied directly by AMD.

An AMD spokesperson referred StreetInsider to Globalfoundries statement as AMD's "official" statement.

While AMD shares have given back their early morning gains, they still remain 5% above the ~$13 per share level they were trading at before the fake rumor hit.

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