AMD is in talks to buy chipmaker Selings for more than $30 billion.

AMD is in in-depth talks to buy rival programmable logic chipmaker Selings, according to people familiar with the matter. The deal, which could be worth more than $30 billion, is the latest major acquisition of the fast-consolidating semiconductor industry. People familiar with the matter said discussions were under way on a deal that could be finalised as soon as next week. There is no guarantee that the deal will be possible, especially given that negotiations have stalled and have only recently resumed.

AMD is in talks to buy chipmaker Selings for more than $30 billion.

Infographic (from Xilinx’s official Twitter account)

At the usual acquisition premium, the deal would value Salings at more than $30bn. The acquisition of Selings will make AMD more competitive against Intel and gain a greater share of the fast-growing telecommunications and defense markets. Selings, which has a market capitalisation of about $26bn, has gained about 9 per cent this year and has just outscapped the 7 per cent rise in the S.P. 500.

AMD’s shares have risen 89 percent this year and are now worth more than $100 billion, helped by the new crown pneumonia pandemic that has boosted demand for PCs, game consoles and other devices that use AMD chips. AMD’s second-quarter revenue rose 26 per cent year-on-year to $1.93bn, helped by record sales of notebook and server processors, and net profit more than tripled to $157m. A rise in share prices would give AMD more the guts to launch a takeover in the currency of the stock.