AMD to Supply Flash Memory to Nortel in 3-Year Pact - TheStreet

Advanced Micro Devices

(AMD) - Get Report

agreed to supply

Nortel Networks

(NT)

with the majority of its flash memory requirements for the next three years.

Nortel said it plans to implement the flash memory products to meet the continued growth in its optical, access, wireless and enterprise businesses.

In

New York Stock Exchange

composite trading, shares of AMD were recently trading up $2.38, or 11.7%, to $22.63. Nortel's shares were recently trading up $4.88, or 12.2%, to $44.88.