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AMD will lay off nearly 1,000, or 4% of staff, as AI competition heats up
AMD said today it will lay off 4% of its global staff, or perhaps somewhat less than 1,000 of its estimated 26,000-person workforce.
AMD said through a spokesperson, ″As a part of aligning our resources with our largest growth opportunities, we are taking a number of targeted steps that will unfortunately result in reducing our global workforce by approximately 4%. AMD’s stock has fallen this year while Nvidia’s is up around 200%, turning it into the most valuable public company in the world with a market cap of $3.6 trillion. AMD has a stronghold in processors/GPUs for game consoles, but that market has been weaker than expected in this generation, partly due to the pandemic supply shortages for the PlayStation 5 and Xbox Series X/S.
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