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I have no corporate financial knowledge so I may out of my depth here but I believe they have made significant investments lately to try to spur up a chip industry outside of China's sphere of influence. Would their bad results be, partly, the result of this?

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One of the announcements was a reduction in the amount they were spending on building fabs.

I’m not sure cutting capex to pay a dividend is a good move.

Right, so that’s how they’re planning to compete with the likes of TSMC…. By protecting the dividend at all costs and cutting back on core business investment?

They’re done and never coming back. Typical American short term thinking.

Or viewed another way, they're seeing the writing on the wall for TSMC when China takes Taiwan. AMD has no fabs so they're basically a chip design firm. Intel with the backing of the US govt will be the only game in town.

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