[Reuters] AMD to exit dense server business, posts bigger-than-expected loss


AMD said on Thursday it would exit the dense server system business, formerly SeaMicro, which helps firms reduce power consumption and improve space efficiency for data centers.

(Reuters) - U.S. chipmaker Advanced Micro Devices Inc reported a bigger-than-expected adjusted loss for the first quarter and said it was exiting its dense server system business, effective immediately.

The company also reported a steeper-than-expected fall in quarterly revenue, helping send its shares down more than 8 percent in extended trading.

The company, which said in October it would cut 7 percent of its workforce, has been shifting its focus to gaming consoles and low-power servers to combat falling laptop sales.

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time to buy their shares :)