November 15, 2024
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Ukraine News Today

Chip maker AMD cuts staff by 4%

Advanced Micro Devices (AMD), a rival to chip maker Nvidia, said it will lay off 4% of its workforce worldwide.”, — write: www.ukrinform.ua

Advanced Micro Devices (AMD), a rival to chip maker Nvidia, said it will lay off 4% of its workforce worldwide.

As reported by Ukrinform, this was reported by CNBC.

“We are taking a number of targeted steps that will unfortunately result in a reduction of approximately 4% of our global workforce,” an AMD spokesperson said in a statement.

He also added that the company will help the employees who will be laid off.

In total, it is about 1,000 employees.

AMD had 26,000 employees at the end of last year, according to the US Securities and Exchange Commission.

Read also: The US is considering limiting the export of AI chips to the Persian Gulf countries – Bloomberg AMD is the second largest manufacturer of graphics processing units (GPUs) after Nvidia.

The company said artificial intelligence represents one of its biggest growth opportunities.

AMD shares fell 5% in 2024, while Nvidia shares rose 200%, making it the world’s most valuable public company.

AMD makes powerful AI accelerators for data centers, including the MI300X, which companies like Meta and Microsoft are buying as an alternative to Nvidia-based systems.

Meanwhile, Nvidia dominates the market for powerful AI chips, with more than 80% market share, in part because it developed the core software that AI engineers use to develop programs such as OpenAI’s ChatGPT chatbot.

Read also: The US demands that Japan tighten restrictions on the supply of chips to China As reported by Ukrinform, Intel, the world’s largest manufacturer of microprocessors, has decided to reduce its staff by 15,000 employees.

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