Salem Radio Network News Tuesday, March 28, 2023


Activist investor Dan Loeb builds passive stake in AMD

By Svea Herbst-Bayliss

(Reuters) – Billionaire investor Daniel Loeb on Thursday told investors in his hedge fund Third Point that the firm has invested in microchip company Advanced Micro Devices, or AMD, a source familiar with the matter said.

Third Point, which occasionally pursues an activist strategy and pushes for changes at companies, is not planning to press for changes at AMD and the investment can be considered a passive stake, the person familiar with the fund said.

A spokesperson for Loeb declined to comment and AMD declined to comment.

(Reporting By Svea Herbst; editing by Peter Henderson)


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