Intel and AMD have jointly announced this morning that they have decided to stop fighting each other and have settled all outstanding legal disputes. These fights, of course, have been over anti-trust litigation, patent disputes, and other matters that have been burdening both companies for the past years.
As part of this settlement, Intel will be paying AMD an amount of $1.25 billion USD and both companies have agreed to a new 5-year cross license deal. This is very good news for AMD, with their trading on the NYSE being up over 25% this morning.
The joint Intel and AMD press release can be read here