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☆ AMD to lay off 4% of workforce, or about 1,000 employees
▼ + stars: | 2024-11-13 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

"We are committed to treating impacted employees with respect and helping them through this transition." AMD had 26,000 employees at the end of last year, according to a U.S. Securities and Exchange Commission filing. AMD stock is down 5% in 2024 while Nvidia shares are up 200%, making it the most valuable publicly traded company in the world. AMD said in October it expects $5 billion in AI chip sales this year, about a fifth of the $25.7 billion in total sales FactSet projects for AMD's 2024. AMD also makes processor chips for laptops, desktops and servers, competing primarily with Intel.

Persons: chipmaker, FactSet Organizations: AMD, Nvidia, U.S . Securities, Exchange Commission, Meta, Microsoft, Intel, Mercury Research

☆ AMD wins nearly a third of processor market, Arm's climb slows, analyst report
▼ + stars: | 2023-02-09 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

Feb 9 (Reuters) - Advanced Micro Devices Inc (AMD.O) has captured nearly a third of the market for central processor units while British chip technology firm Arm Ltd's rise in the PC market slowed in the fourth quarter of 2022, according to an analyst report. In the fourth quarter, Intel had 68.7% market share for x86 processors versus AMD's 31.3%, which was up from 28.5% a year earlier, according to Mercury Research. But the PC sales slump has also affected Apple Inc's (AAPL.O) Mac computer lineup, which is the leading source of sales for Arm-based PC chips. Mercury said Arm PC chips, led by Apple's in-house chips but also joined by Qualcomm Inc's (QCOM.O) recent PC chips for Windows machines, now have 13.3% share of the market PC chips, down from 14.6% a quarter earlier but still up from 10.3% share a year ago. Reporting by Stephen Nellis in San Francisco; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

AMD forecast fourth-quarter and full-year revenue below Wall Street estimates, but Kinngai Chan, an analyst at Summit Insights Group, suggested investors had braced for worse. "While AMD's 4Q22 sales outlook was below consensus expectations, we believe investors are somewhat relieved that AMD expects its data center and embedded businesses to grow sequentially," Chan said. While AMD has been growing its market share quickly in the datacenter, rival Intel Corp.(INTC.O) has seen its share slip even in its latest earnings reported. Su added the North American cloud market was the most resilient of the data center market segments, though she did not expect significant recovery of the China data center market in 2023. While its Data Center revenue was $1.6 billion, up 45% year-on-year.

Cloud services for years has been one of the largest and most dependable sources of growth for some of the biggest tech companies, including during the pandemic as people worked and studied from home. Growth in Amazon Web Services (AWS), the firm's lucrative cloud unit serving enterprises, has ticked down consistently in the past four quarters, adjusted for changes in forex. "The AWS slowdown is a clear sign that businesses are beginning to trim costs, so this will likely put more of a squeeze on Amazon's bottom line in the coming quarters," said Andrew Lipsman, principal analyst at Insider Intelligence. Alphabet's Google Cloud revenue grew 38% in the quarter, beating estimates. Cloud services typically help companies save money so budget cuts in this sector could be especially worrying, indicating that companies think cost is king going into tougher times.

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