PRESS RELEASE DATED JANUARY 24, 2002

EXHIBIT 99.1

CONTACTS:
John Greenagel
AMD Public Relations

(408) 749-3310
E-mail: john.greenagel@amd.com
----------------------

Toni Beckham
AMD Investor Relations
(408) 749-3127
E-Mail: investorrelations-ca.communications@amd.com


Advanced Micro Devices Announces Pricing of Private Offering
of 4-3/4% Convertible Senior Debentures Due 2022

SUNNYVALE, CA - January 24, 2002 - Advanced Micro Devices, Inc. (NYSE: AMD)
today announced the pricing of a private offering of $500 million aggregate
principal amount of its 4-3/4% Convertible Senior Debentures Due 2022 to be
issued pursuant to Rule 144A. The company has granted to the initial purchasers
of the Debentures an option to purchase up to an additional $100 million
principal amount of Debentures for a period of 13 days. AMD intends to use the
net proceeds generated from the offering for capital expenditures, working
capital and general corporate purposes.

The Debentures will bear interest at a rate of 4-3/4% per annum. The
interest rate will be reset on each of August 1, 2008, August 1, 2011 and August
1, 2016 to a rate per annum equal to the interest rate payable 120 days prior to
such date on 5-year U.S. Treasury Notes, plus 43 basis points. The reset rate
will not be less than 4-3/4% and will not exceed 6-3/4%. The Debentures will be
convertible into the company's common stock initially at a conversion price of
$23.38 per share. At the initial conversion price, each $1,000 principal amount
of Debentures will be convertible into approximately 43 shares of the company's
common stock. The initial conversion price represents a 40% premium over the
last reported sale price of the company's common stock on January 23, 2002,
which was $16.70 per share.

The Debentures will be redeemable at specified prices declining to 100% of
the principal amount plus accrued and unpaid interest at the company's option
beginning on February 5, 2005, provided that the company may not redeem the
Debentures prior to February 1, 2006 unless the last reported sale price of the
company's common stock is at least 130% of the then effective conversion price
for at least 20 trading days within a period of 30 consecutive trading days
ending within five trading days of the date of the redemption notice.

Holders of the Debentures will have the ability to require the company to
repurchase the Debentures, in whole or in part, on February 1, 2009, February 1,
2012 and February 1, 2017. The holders of the Debentures will also have the
ability to require the company to repurchase the Debentures in the event that
the company undergoes specified fundamental changes, including a change of
control. In each such case, the redemption or repurchase price would be 100% of
the principal amount of the Debentures plus accrued and unpaid interest.

The Debentures and common stock issuable upon conversion have not been
registered under the Securities Act of 1933, as amended, or any state securities
laws, and may not be offered or sold in the United States absent registration or
an applicable exemption from registration requirements.

This release contains forward-looking statements, which are made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that forward-looking statements in this release
involve risks and uncertainty that could cause actual results to differ
materially from current expectations.