So AMD handed over their most valuable IP for basically nothing. Just another example that doing business in China is a pyrrhic victory.
Can you elaborate on how you get this conclusion?
From the article "agreed to license its x86 and SoC IP for chip development in a deal worth $293 million (plus royalties)", that's at least 5% of AMD's 2018 revenue (out of 6 billion).
And when we consider that the partnership also deferred costs at the foundry, it seems somewhat plausible.
Although, now they went with S. Korean Samsung...