Intel Rebuts AMD Charges

Intel(INTC) parried the antitrust lawsuit leveled by smaller chipmaking rival Advanced Micro Devices (AMD) late Wednesday.

"Over the years, Intel has been involved in other antitrust suits and faced similar issues," Intel CEO Paul Otellini said in a statement. "Every one of those matters has been resolved to our satisfaction. We unequivocally disagree with AMD's claims and firmly believe this latest suit will be resolved favorably, like the other."

AMD sued Intel Tuesday alleging anticompetitive acts that have stifled its ability to do business. In its 84-page complaint, AMD cited a number of events that it said show that Intel unfairly used its dominant market position to influence customers.

AMD continued the assault Wednesday with an ad campaign in seven major newspapers and 10 online sites, featuring an open letter from AMD CEO Hector Ruiz.

Otellini said Intel "has always respected the laws of the countries in which we operate. We compete aggressively and fairly to deliver the best value to consumers. This will not change."

Shares of Intel closed the regular session off 8 cents to $26.25; AMD shares lost 33 cents to $17.37.

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