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AMD mentioned immediately it is going to lay off 4% of its international employees, or maybe considerably lower than 1,000 of its estimated 26,000-person workforce.
The cuts come at a time when AMD has been soundly beating Intel within the x86 processor market. However AMD has additionally been second within the transition from graphics processing models (GPUs) to AI accelerators in competitors with AI chip market big Nvidia.
AMD mentioned via a spokesperson, ″As part of aligning our sources with our largest progress alternatives, we’re taking plenty of focused steps that can sadly end in lowering our international workforce by roughly 4%. We’re dedicated to treating impacted workers with respect and serving to them via this transition.”
In an SEC submitting final yr, AMD mentioned it had 26,000 workers. Right this moment, AMD mentioned solely that the variety of layoffs can be beneath 1,000.
AMD’s inventory has fallen this yr whereas Nvidia’s is up round 200%, turning it into essentially the most helpful public firm on the planet with a market cap of $3.6 trillion. AMD’s market worth is $227 billion.
AMD mentioned in October it expects $5 billion in AI chip gross sales this yr, a couple of fifth of the $25.7 billion. AMD has a stronghold in processors/GPUs for recreation consoles, however that market has been weaker than anticipated on this technology, partly because of the pandemic provide shortages for the PlayStation 5 and Xbox Collection X/S.
However Mercury Analysis studies that AMD’s share of processors towards Intel is 34% now, up dramatically from years in the past.
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