Advanced Micro Devices on Friday issued a statement claiming that the new chief executive officer of the company was misquoted and did not announce spin off of the chipmaker’s manufacturing operations in an interview with news-paper. The company stressed that as of now the potential spin off is completely a rumour.

“We continue to look at multiple options that leverage our world-class manufacturing capabilities and relationships to achieve an optimum blend of internal and external operations. Our goal is to transform the company and how we manufacture wafers to improve our balance sheet and help deliver sustained profitability,” said Drew Prairie, a spokesperson for Advanced Micro Devices.

In fact, the company already outsources a fraction of chip manufacturing to Chartered Semiconductor and also develops fabrication processes together with IBM.

Under the terms of x86 license agreement between Intel and AMD, the latter cannot outsource more than 20% of the x86 chips it sells to third party, thus, 80% of the company’s x86 output should be made in-house. Therefore it is generally unlikely that AMD sells off its fab. However, it may change the way its manufacturing operates to reduce its own expenses.

AMD continues to remain tight-lipped over the details of its “asset smart” smart strategy and when the company plans to unveil them.