AMD rumored to be breaking into pieces, could we see ATI reborn?

Update: AMD's PR agency, Edelman, reached out to us just now with the following statement: "AMD Spokesperson Sarah Youngbauer: AMD provided official confirmation that we have not hired an outside agency to explore spinning-off/splitting the company (Reuters has since updated their story as such). We remain committed to the long-term strategy we laid out for the company in May at our Financial Analyst Day, which encompasses all parts of the business".

Reuters has quite the report for the weekend, where according to "three people familiar with the matter" AMD will be splitting up its businesses into two. This move would see the chipmaker reverse its position in the market, and better combat against the quite unstoppable Intel.

The sources said that the "deliberations are preliminary and no decision has been made" but the review highlights AMD CEO Lisa Su and her "determination to consider every possible option to turn the company around". AMD has reportedly called in a consulting firm to help look at its options, bringing up scenarios on how this would all work.

One of these options would see AMD separating its graphics and licensing business from its server business, with AMD thinking about this move in the past according to these sources from Reuters. If it did happen, could we see the ATI brand once again? All of this is interesting and almost damning while simultaneously exciting for AMD... with the launch of the Radeon R9 390X and the upcoming push of the HBM-based Radeon R9 Fury X.