AMD's early years

Advanced Micro Devices (AMD) was founded in 1969 by Jerry Sanders and seven colleagues from Fairchild Semiconductor. Originally a second-source manufacturer for microchips, AMD evolved into a direct competitor to Intel in the semiconductor industry.

Jerry Sanders, a charismatic salesman and engineer, left Fairchild Semiconductor due to its bureaucracy, bringing a team of fellow engineers with him. At the time, Fairchild was a breeding ground for tech entrepreneurs.

AMD initially focused on logic chips and memory products, earning a reputation for reliability and securing contracts with the U.S. military and major computer manufacturers. Unlike Intel, which had strong ties to venture capital firms, AMD was largely bootstrapped in its early years. In 1969, it raised $1.5 million from private investors, including Sanders' friends and family. The company went public in 1972, raising $7.5 million to accelerate research and development.

By the late 1970s, AMD expanded into the microprocessor market, challenging Intel in the x86 processor space throughout the 1980s. Over the decades, AMD has driven key innovations in multi-core processors and graphics chips, particularly after acquiring ATI in 2006.