AMD to lay off 4% of staff to enhance AI chip development capabilities
Advanced Micro Devices (AMD) plans to reduce its global workforce by 4% as it aims to strengthen its position in the AI chip market, reported Reuters. This move, which is expected to impact around 1,000 employees, comes as AMD seeks to compete more effectively with Nvidia, a dominant player in AI chip technology.
At the end of last year, AMD had 26,000 employees, according to a U.S. Securities and Exchange Commission filing.
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