That could put AMD at a disadvantage over Intel, which owns fabs and is a generation ahead in manufacturing technology, said Jack Gold, principal analyst at J. Gold Associates. Intel launched chips manufactured using the 45-nanometer process in 2007, close to a year ahead of AMD's first offering of chips manufactured using the 45-nm process.

AMD can hope for a quick recovery of the PC market and keep its chip road map afloat next year to remain competitive with Intel, Gold said. It will also need to overcome design challenges by coordinating its chip design efforts with the company manufacturing the chips.

The Foundry Co. may initially focus manufacturing efforts on AMD's chips, but it may not remain exclusive as the spin-off tries to expand its market presence. "Changing a fab is a long and expensive process, so it won't happen overnight," Gold said.

PC makers are not worried about AMD becoming a fabless company, as long as the company meets its chip road map, said Kelt Reeves, CEO of Falcon Northwest, a PC maker.

"As long as the inventory shows up when we need it, who owned the fab it was made in is a non-issue," Reeves said.