Shares of Advanced Micro Devices (AMD - Get Report) closed over 11.6% on Tuesday on heavy trading volume of around 151 million shares vs. the monthly average of about 62 million shares after Intel (INTC - Get Report) agreed to license AMD's graphics processing unit, Fudzilla reports.
Nvidia and Intel had disagreements over the Nforce chipset and the licensing, that resulted in a $1.5 Billion settlement that Intel agreed to pay for five years, the report said.
Today's agreement will allow Intel to access AMD's graphics Intellectual Properties.
Shares of AMD were climbing over 7.5% during late morning trading on Tuesday following the report.
Jim Cramer and the AAP team are discussing fallout from first-quarter earnings from Apple (AAPL - Get Report) and Facebook (FB - Get Report) and how to play the big tech names. Get his insights or analysis with a free trial subscription to Action Alerts Plus.
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