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> All of this new innovation from AMD certainly arises from that money.

Just to be clear:

Zen microarch design work started circa-2012. The USD$300m deal was circa-4/2016.

It's accurate to say the capital from the deal likely helped AMD finalize, produce, and distribute Zen / Epyc.

But the microarchitecture design innovation predated the cash infusion.

>It's accurate to say the capital from the deal likely helped AMD finalize, produce, and distribute Zen / Epyc.

It didn't, it just gave a pass / access to Alibaba and Tencent as well as other Government related project to use AMD CPU.

We're not talking about the same thing. You're talking about the deal, I'm talking about what AMD did with the cash from the deal.

Look at their balance sheet, and note that without the $300M infusion, the market would have been spooked by their debt levels.