The Advanced Technology Investment Company (ATIC) is the high-tech investment arm of the government of Abu Dhabi in the United Arab Emirates. It was formed in 2008 to invest in domestic and international technology companies. ATIC's first order of business was a partnership with Advanced Micro Devices (AMD) for a joint venture called GLOBALFOUNDRIES, which manufactures semiconductors for AMD and other chip designers. The group then acquired Singapore's Chartered Semiconductor, one of the world's largest contract chip makers, which it then combined with GLOBALFOUNDRIES. ATIC Chairman Waleed Al Mokarrab Al Muhairi is also the COO of Mubadala Development Company, which acquired ATIC in 2011.