<ul><li>AMD will be cutting approximately 4% of its global workforce, around 1,040 employees, in a strategic shift towards AI chips.</li><li>The company aims to focus its resources on the rapidly expanding AI chip market to challenge Nvidia's dominance.</li><li>AMD's workforce reduction is part of aligning operations with the largest growth opportunities in AI and meeting the increasing demand for AI technologies.</li><li>While facing challenges, AMD expects $5 billion in AI chip sales for 2024, representing about 20% of its projected total revenue.</li></ul>

AMD to Lay Off 4% of Workforce in Strategic Shift Toward AI Chips

Discover more