AMD completed its ZT Systems manufacturing sale to Sanmina on Oct 27, 2025, with $2.4 billion in cash and 1,151,052 shares at closing

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

AMD said on Oct 27, 2025 that it completed the previously announced sale of ZT Group Int'l to Sanmina under the Equity Purchase Agreement dated as of May 18, 2025. Its press release the same day described the deal as the divestiture of the ZT Systems U.S.-headquartered data center infrastructure manufacturing business to Sanmina. AMD Design, LLC, a wholly owned AMD subsidiary and the seller, had sold all of the equity interests of ZT to Sanmina. At closing Sanmina issued 1,151,052 of its shares to the seller and paid, or said it would cause to be paid, $2.4 billion in cash, subject to purchase price adjustments. The seller was eligible for up to $450 million more in cash if conditions were met after closing.1^,2^,3^,4^,5

AMD reported the completion in an 8-K filed Oct 27, 2025, the current report a listed company files with the SEC to disclose an event; item 2.01 of an 8-K reports a completed acquisition or sale of assets. The agreement itself was filed as an exhibit to an 8-K that AMD filed on May 19, 2025.6^,7^,8

AMD retained ZT Systems' design and customer enablement teams, and Sanmina became a preferred new product introduction manufacturing partner for AMD's cloud rack and cluster-scale AI solutions, according to the press release. Forrest Norrod, executive vice president and general manager of AMD's Data Center Solutions business unit, said rack-scale innovation marked the next chapter in AMD's data center strategy. AMD described itself as having driven innovation in high-performance computing, graphics and visualization technologies for more than 55 years.9^,10^,11^,12

The documents we hold state no equity value or enterprise value for the deal. We hold the text of the 8-K and its press release but not the agreement itself, and neither text we hold mentions games.13^,14