Advanced Micro Devices said Wednesday roughly 4% of approximately 26,000 employees worldwide will be laid off. About 1,000 AMD workers will lose their jobs.

Advanced Micro Devices is reducing its global workforce by 4% after reporting that most of the growth it sees comes from its AI chips and other products for data centers. Shares fell 2.2% to $140.44 in midday trading.

AMD has confirmed it’s laying off roughly four percent of its global workforce, according to reports by TechCrunch and others. It’s not entirely clear how many people will be impacted by this move, or which divisions the laid off employees will be pulled from.

The logo of semiconductor company Advanced Micro Devices Inc (AMD) is seen on a graphics processing unit (GPU) chip in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photo (Reuters) - Advanced Micro Devices is laying off 4% of its global workforce,

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

Advanced Micro Devices (AMD) is cutting 4% of its global workforce as it focuses on competition in the artificial intelligence chips space.

AMD has confirmed that it’s laying off 4% of its workforce to focus on “large growth opportunities.” It’s unclear how many workers have been impacted by the reduction — and which divisions. AMD had roughly 26,