Latham & Watkins, O’Melveny & Myers, Greenberg Traurig, Shearman & Sterling and Covington & Burling have hopped onboard a microchip deal involving  investment by the Abu Dhabi government.

The deal sprouted from Advanced Micro Devices’ (AMD) initiative to enter a joint venture (JV) with the state of Abu Dhabi. The Middle Eastern government could pump as much as US$8bn into both AMD and the new JV, Foundry Co.

Two arms of the Abu Dhabi government, the Mubadala Development Co and Advanced Technology Investment Co, will invest in and develop Foundry Co, including making improvements to two of AMD’s existing plants in Germany and a soon-to-be-built plant in Saratoga County, New York. That plant will employ about 1,400 people. The Abu Dhabi government will own 56% of Foundry Co.

Latham & Watkins is AMD’s lead corporate counsel, while O’Melveny & Myers will handle Foundry Co’s dealings with the Committee on Foreign Investments in the United States (CFIUS), which must approve the deal. Greenberg Traurig provided advice on issues related to the New York factory. Shearman & Sterling served as lead counsel for the state of Abu Dhabi and Covington & Burling is doing the CFIUS work in Abu Dhabi.