What do you do when you're one of the biggest GSM chip makers out there and one of your sweethearts -- HTC in this case -- starts looking elsewhere (say, nVidia)? Well you you throw on the old spice cologne, get a hair cut, and start acquiring AMD's graphics and multimedia technology assets to improve what you've got.
Qualcomm is hoping this move will provide better 2D and 3D graphics features, as well as better audio/video and display support. This drastic make over wasn't cheap. Qualcomm is dishing out $65 million to AMD for these assets and offering employment to AMD employees that were involved in the new technologies. We were starting to suspect that Qualcomm was letting itself go (so to speak), so hopefully laying out this cash for the proverbial face lift and gym membership will get 'em back in shape.