AMD Cutting 4% of Workforce, 1,000 Jobs, to Focus on AI Chips Amid Nvidia Competition

Nov 13, 2024, 03:49 PM

Advanced Micro Devices (AMD) has confirmed to Wccftech and CRN that it is laying off approximately 4% of its global workforce, roughly 1,000 employees. The company had 26,000 employees at the end of last year, according to an SEC filing. This decision aims to align resources with AMD's 'largest growth opportunities,' focusing on key areas such as artificial intelligence (AI) chip development. AMD seeks to challenge competitors like Nvidia in the rapidly evolving AI chip market by investing in AI initiatives.