AMD to cut 4% of workforce to prioritize AI chip expansion and rival Nvidia
Advanced Micro Devices (AMD) is laying off 4% of its global workforce, around 1,000 employees, as it pivots resources to developing AI-focused chips. This marks a strategic shift by AMD to challenge Nvidia’s lead in the sector.
AMD to lay off 4% of workforce amid push for AI chip development
Analysts are optimistic about AMD’s future in the AI space, with predictions that the company’s data center revenue could grow by nearly 100% in 2024, far outpacing overall revenue growth. This growth is largely attributed to increased demand for AI chips from large cloud providers and tech companies.
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