AMD cutting almost 1,000 jobs to focus resources on AI push

By Ian King | Bloomberg

Advanced Micro Devices Inc. is shedding about a thousand jobs as part of an effort to refocus on newer markets like artificial intelligence chips.

“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%,” the company said in a statement Wednesday.

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AMD has been pouring resources into artificial intelligence processors — a market dominated by Nvidia Corp. — and is pushing deeper in data centers and corporate personal computers. The company has traditionally focused more on processors for consumer PCs, where it competes with Intel Corp.