Yet another AMD executive has stepped forward to claim that the PS4‘s success saved the component manufacturer from a financial disaster. Yesterday, the LinkedIn profile of a current senior director at AMD made rounds, in which he claimed that the company avoided bankruptcy due to its work with Sony. Now, a 19-year AMD veteran has corroborated the claim.
How PS4’s success averted a financial disaster for AMD
Phil Park, a performance architect at AMD, directly quote tweeted the viral thread that started the discussion yesterday. Park said that the original claim, made by 22-year AMD veteran Renato Fragale, was true to his knowledge.
According to Park, AMD took a hit during the 2008 financial crisis and had to sell “multiple” IPs to raise cash. Park also revealed that “most of us” took pay cuts. It’s unclear if he meant the entire AMD workforce or just senior level executives.
“The 2008 Global Financial Crisis put us in an incredibly bad position, especially after Intel’s recovery with Merom/Conroe/Woodcrest and Nehalem,” Park tweeted. “In 2013, the PS4/Xbox One were released which is what we needed for steady revenue to keep us afloat and invest in future products.”
Although Park mentions both the PS4 and Xbox One, Fragale’s LinkedIn profile specifically credits the PS4’s success.