Yes, it is nothing but a rumor. IBM is not manufacturing chips for AMD on a contract basis. In fact, they are not doing it at all. All IBM has done, according to AMD, is to provide consulting services to Globalfoundries, who is a contract maker of the microprocessors that AMD uses. IBM offered the services in order for Globalfoundries to be able to enable it to boost the yields of the chips already being produced using 32nm silicon-on-insulator process technology. So put the rumor to bed because it was only giving consultations.
What is true is that IBM, Samsung Electronics, STMicrolectronics, and Globalfoundries are jointly developing various technologies in regards to semiconductor processes. All of these companies will usually unify the manufacturing processes, and if needed can help each other out by building chips.
The rumor apparently started when the chief executive of AMD, Rory Read, named IBM as one of the manufacturing partners of AMD in order to help solve some issues that AMD had with the supply of the latest chips of the company. It was apparently taken out of context and thought it implied that AMD had added a manufacturing partner quietly.
Advanced Micro Devices (AMD ) is based in Sunnyvale, California and makes semiconductor processors with the main products including motherboard chipsets, graphics processors for personal computers, servers, and workstations, and microprocessors. It is the second biggest supplier of microprocessors globally. It was founded in 1969.
International Business Machines Corporations (IBM) is an American consulting and multi-international technology corporation based in Armonk, New York and was founded in 1911. IBM offers consulting services and infrastructure hosting plus they manufacture and sell both computer software and hardware. IBM has, worldwide, nine research laboratories and they hold more patents than any other technology company in the United States.