AMD to lay off 4% of workforce amid push for AI chip development

Advanced Micro Devices (AMD) will lay off approximately 1,000 employees, or 4% of its global workforce, as the company pivots its focus towards the growing market for artificial intelligence (AI) chips, according to a Reuters report. This move is aimed at ramping up AMD’s efforts to compete with Nvidia, the industry leader in AI and data center technologies.

AMD has been making significant strides in the AI sector, where demand for powerful chips is soaring. These chips are used in data centers to power AI applications like OpenAI’s ChatGPT, which rely on high-performance hardware for processing large volumes of data.