Chipmaker Advanced Micro Devices (AMD) CEO Lisa Su said that artificial intelligence has not slowed down hiring at the company, but it has changed who AMD is looking for. Speaking with CNBC, Su explained that AMD is still hiring aggressively as it continues to grow. However, the focus is now on candidates who are comfortable using AI and eager to work with it as part of their daily roles.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
It is worth noting that AMD designs GPUs used to train AI models and handle large computing workloads. That puts the company in direct competition with Nvidia (NVDA), which currently dominates the AI chip market. Since AI went mainstream following the launch of OpenAI’s ChatGPT a few years ago, concerns have grown about whether the technology will reduce hiring and replace jobs across the economy.
But Su pushed back on that idea by saying that AI is being used at AMD to improve how chips are designed, manufactured, and tested, not to eliminate workers. She said employees who fully embrace AI tools are becoming more valuable because the technology boosts productivity and helps teams bring more products to market. Her comments came shortly after Minneapolis Fed President Neel Kashkari warned that AI could slow hiring at large companies.
Is AMD a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on AMD stock based on 27 Buys, nine Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average AMD price target of $282.81 per share implies 32.7% upside potential.
