AMD (Advanced Micro Devices) Stock News

AMD dropped 3% Wednesday and is below declining 21-, 50- and 200-day moving averages. I'm willing to bet that upside will be limited from here.

Both companies are benefiting from AI's growth, but only one is a clear leader.

AMD said today it will lay off 4% of its global staff, or perhaps somewhat less than 1,000 of its estimated 26,000-person workforce.

The layoffs would affect about 1,040 employees and are part of a shift in AMD's broader business strategy.

AMD announced on Wednesday that it will reduce its global workforce by 4%, marking a strategic move to focus more on the rapidly growing artificial intelligence (AI) chip sector, currently dominated by Nvidia.

Chipmaker Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD) has confirmed that it is shedding 4% of its global workforce as part of its shift towards artificial intelligence applications. “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%,” AMD sai...

At the end of last year, AMD had 26,000 employees, according to an SEC filing.

Advanced Micro Devices is laying off 4% of its global workforce, or about 1,000 employees, as it directs efforts towards developing AI chips in a bid to compete against industry bellwether Nvidia.