I'm amazed how some folks here fail to realize how impossible is for AMD to get a good deal on their FABs :

1.AMD has $4.9B in debt
2.The Dresden complex isn't worth more than $2-2.5B. ( assuming someone is foolish enough to buy a FAB in need of upgrades and an empty shell in Germany , the most labour expensive country in Europe )

As a result ,assuming someone pays $1.5-2B for the FABs , AMD is still stuck with close to $3B in debt ( nobody is stupid to buy their debt , you can bet on this ) since they're forced to pay the credit before anything else.

End result : a FABless AMD with $3B in debt.
Positives : no investment in FABs ; better debt schedule
Negative : costs per unit will rise ; less tunning.