In 2009 amd, facing insolvency, sold its entire mobile graphics department to qualcomm for a measly 65million that technology went on to become snapdragon. It's one of the only things that kept amd going at the time, but qualcomm got insanely rich off it.
It's rather poetic to now see intel face a similar decision. According to the article intel is also planning to spin it's chip manufacturing out to its own company which is also what amd did with global founderies around the same time as selling to qualcomm.