AMD Corporate Announcement: Are they breaking up?

AMD is to make an announcement and a significant corporate announcement at that today. According to Engadget this announcement could be the AMD possible break up.

AMD yesterday issued a release which basically said that president and CEO Dirk Meyer will be making a “significant corporate announcement”, which will happen today at some point. Does this really mean the break-up rumors are true?

Engadget had an update saying WSJ confirms it’s a breakup, so where does this leave AMD? Are the chip makers going to spin-off manufacturing and fabrication into a new company? What is the main reason for the break up? All these questions and with have no answers which basically means we will have to sit and wait until after the announcement has been made.