Reported 11 days ago
AMD is laying off 4% of its global workforce, approximately 1,000 employees, in a shift towards AI chip development to compete with Nvidia. The company saw significant revenue growth in its data center segment, where its AI graphics processors reside, while struggling in its gaming unit. Analysts predict strong growth for AMD’s data center business in 2024, as it plans to begin mass production of its new AI chip, MI325X, by year-end. However, rising research and development expenses have put pressure on AMD's stock performance this year.
Source: YAHOO