@SiliconAsia- I think this comment is off base. ATIC, I believe, doesn't own any of AMD. Mubadala, the Abu Dhabi government invest firm that also owns ATIC, owns a little more than 19 percent of AMD, according Mubadala"s website.
The ATIC deficit of $1.2 billion is cumulative, through its history, since its establishment in 2008.
However, I think we can extrapolate from this report that Globalfoundries has yet to turn a profit. And, like mike655mm, I agree that foundry is a tough business.
I agree with Mike, It looks like ATIC may not be able to recoup the investment for long - ATIC has two investments - 1) AMD and 2) GF. Since AMD actually made some money in 2011, this loss must be coming from GF side only. Imagine GF lost $1.12B out ~$3.5B revenue! This is not sustainable business!
Very interesting insight to ATIC.
BTW, it looks like you have an extra "owned" in the sentence:
"...customers who were previously owned wary of doing business with a foundry partially owned by ..."