From New York Times News – AMD (Advanced Micro Devices) has agreed to pay $35 billion in stock for Xilinx, a deal aimed at reshaping one of the computer chip industry’s pioneers.

AMD which is known mainly as Intel’s longtime rival in microprocessors that power most computers, plans to use this acquisition to broaden its business into chips for markets like 5G wireless communications and automotive electronics. The transaction could also help AMD grab a bigger share of component sales for data centers and counter a prominent rival, Nvidia, which is also bulking up.

This deal was announced on last Tuesday along with AMD’s third-quarter financial results. This would be the second most valuable acquisition in the chip industry’s history. With the first, being held for Nvidia as they have already purchased ARM with $40 Billion.