US giant AMD is laying off 4,000 people in a bid to become more competitive in AI
AMD has announced that it will lay off 4% of the company’s workforce, approximately 4,000 employees, while the technology giant tries to strengthen its presence in AI, writes CNBC, quoted by Ziarul Financiar.
US giant AMD is laying off 4,000 people in a bid to become more competitive in AI
“As part of aligning our resources with growth opportunities, we will take a series of actions that will result in a reduction of approximately 4% of our workforce globally,” an AMD representative said.
The company is the second largest manufacturer of graphics cards in the world after Nvidia. However, the company’s shares fell 5% in 2024, while Nvidia exploded on the stock market, rising 200% to become the world’s most valuable company.
Nvidia dominates AI processor sales, where it holds over 80% of the market.
Source: www.mediafax.ro
