Advanced Micro Devices (AMD) has announced layoffs that will cut one thousand jobs, reducing the company’s workforce by four percent. The company stated it is making various changes to be better positioned to compete in the artificial computer chip market. The Artificial intelligence computer chip market is currently led by Nvidia, and Nvidia shares have increased by 200% in the past year, making it the world’s highest-valued publicly traded company. In contrast, AMD shares went down by five percent in 2024. Alongside producing artificial intelligence computer chips, AMD manufactures graphics processing units used in video games, AI accelerators for data centers, laptops, desktops, and servers.
See "AMD, competing with Nvidia in the artificial intelligence computer chip market, announces layoffs", Kif Leswing, CNBC, November 14, 2024