Doesn't really untie them, frankly the licensing issue was just that Intel were worried the licences AMD were allowed to use, would now be intergrateable by anyone that uses GloFO as they could "help" out companies. THe new agreement just states that only AMD products have access to the licences that use stuff, and GloFo really won't be helping other companies design their products, basically the licencing situation now, is identical to before, just properly defined which with the split it wasn't quite as defined anymore.
The payment is big, and probably has an agreement in place that prevents AMD from sueing Intel pending the results of the New York states prosecution, which was a case being formed by the government(with a lotta help from AMD). But if Intel loses that case AMD have a huge case to them sue them for damages based on Intel being found guilty of anti-competitive practices.
However if the government wins that case, which looked likely, and AMD were able to sue for damages after, they'd probably get quite a bit more than the 1.25billion, saying that civil cases like that can be appealed until everyone involved has retired(almost
). So even if they got awarded 5 billion, 12 appeals and 10 years later they might finally get paid, maybe a reduced amount, maybe the get 2 billion, but 10 years later thats not as much money and they've spent 500million on lawyers over that time. This is easier as they'll get the cash within 30 days.
OTher than confidence in the company it doesn't make much difference to AMD right now, cash isn't a problem, they aren't in danger and they have enough backing to go till 2150, they have vastly more resources than INtel these days. They just need time to build fabs and build the business now, those are the only limits.
IN the future though, with a 3rd fab, a new architechture(which by all accounts as been annouced in the last couple days and appears, at first glance ridiculously good) the lack of anti competitive action, IE Dell and the likes not being paid to ignore AMD, and they can really start to push forwards and fight to gain market share. This second they don't have as strong a CPU to really push forwards, nor the manufacturing capability to even supply say 30% of the market.
But AMD have a very strong platform even now, gpu, cpu, mobo AMD are cheap, fast enough for basically any Dell base unit buyer, and it will help there. Though again, AMD are so competitive as a platform and gpu maker that Apple, Dell and lots of others are already taking them on now anyway.
For now the 1.25billion really just means their oil money partners(who own 45% of AMD) have 1.25billion less debt to pay off when its due, around 2011/2012. They have basically trillions between them, they've already spunked around 20billion in total on AMD, GloFO, the New York State fab and Chartered Semiconductors(another manufacturing group in Singapore that owns around 11% of the market itself). This they've done within a year, they'll probably invest another 5-6billion on new equipment for Chartered Semi con and another few billion upgrading Dresden to 32nm. 2billion or 3billion AMD debt, tbh, doesn't make the slightest jot of difference to these guys.