Date: 13 Mar 2018
Viceroy analyze CTS Labs’ report exposing fatal security vulnerabilities across AMD products
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CTS Labs, a cyber-security research firm, released its findings on
http://www.amdflaws.com.
These findings demonstrate that AMD’s key products, and it basis for
profitability and growth, the EPYC and Ryzen processors, contain severe
and pervasive security flaws that put users and organizations at an
unacceptable and damaging risk. We understand that these flaws are
difficult, some practically impossible, to patch.
We believe that AMD was compelled to release products as quickly and
cheaply as possible as it was falling behind its competitors. This has
led to what appears to be complete oversight or negligence of security
fundamentals of AMD’s products, which promote an evidently misguided
competitive advantage – particularly with its Secure Processor (a.k.a.
Platform Security Processor or PSP) – of providing “the greatest peace
of mind on every AMD product.”. Nothing could be further from the truth.
Viceroy, in consultation with experts, have evaluated CTS’s report. We
believe the issues identified by CTS are fatal to AMD on a commercial
level, and outright dangerous at an international level.
In light of CTS’s discoveries, the meteoric rise of AMD’s stock price
now appears to be totally unjustified and entirely unsustainable. We
believe AMD is worth $0.00 and will have no choice but to file for
Chapter 11 (Bankruptcy) in order to effectively deal with the
repercussions of recent discoveries.
