Advanced Micro Devices Inc. rode its Spansion flash business venture to $1.2 billion in revenue, a 76 percent year-over-year gain and 26 percent sequential gain.

Flash sales of $566 million in Q4 increased 34 percent quarter-over-quarter and were up 161 percent from the year-ago period. AMD attributed the growth to Spansion memory market share gains in the wireless and consumer electronics segments and strong seasonal growth.

"Spansion posted a stunning performance in 2003, as the company capitalized on Intel's missteps to take the lead in the NOR flash market -- and successfully rode the rising tide of NOR flash purchasing late in the year," research house iSuppli said in a statement today. "If Spansion is counted as an separate company throughout 2003, its revenue for the year was $1.74 billion, making it the 24th largest semiconductor company in the world in 2003."

Meanwhile, AMD's Computation Products Group contributed sales of $581 million, up 38 percent as compared to Q4 2002 and up 15 percent sequentially on improved ASPs and higher unit volumes.