AMD to Lay Off 4% of Workforce

AMD plans to lay off 4% of its workforce as the chipmaker seeks to focus on its artificial intelligence business

Artificial intelligence chips will account for more than $5 billion this year, or 20% of its total sales.

AMD reported adjusted earnings of 92 cents per share in the third quarter, in line with expectations.

The company announced two weeks ago that its data center sales doubled for the second straight quarter.