AMD Plans To Cut 4% Of Workforce Amid Strategic Shift Toward AI Chip Development To Rival Jensen Huang-Led Nvidia's Dominance: Report

Quick Summary:

What Happened: AMD is realigning its resources to compete with Nvidia Corporation (NASDAQ:NVDA) in the data center chip market, reported Reuters.“As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps,” an AMD spokesperson told the publication.

The company has been aggressively investing in the development of AI chips, which command high prices and are in demand among hyperscalers like Microsoft Corporation (NASDAQ:MSFT).

Advanced Micro Devices (NASDAQ:AMD) has reportedly decided to lay off approximately 1,000 employees, representing 4% of its global workforce.

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Author / Journalist: Ananya Gairola

Category: Technology

Markets: United States

Topics: US5949181045 Benzinga Benzinga neuro MSFT INTC NVDA AMD Tech News US4581401001 US67066G1040 US0079031078 Artificial intelligence Layoffs Stories That Matter MI325X AI chip Markets Media

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 03:23:50 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 335 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23578968

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