M&A, IP, Patents US chip firm AMD has struck a deal worth up to $4.9 billion to acquire US AI infrastructure provider ZT Systems in an attempt to compete with Nvidia. “ZT Systems’ extensive experience designing and optimising cloud computing solutions will also help cloud and enterprise customers significantly accelerate the deployment of AMD-powered AI infrastructure at scale,” the AMD in a statement. Financials Cisco announced a revenue drop of 6% to $53.8 billion in its latest full year earnings. As a result, the vendor is making further job cuts, of around 6,300 staff. In only February this year Cisco said it would cut about 4,200 jobs (5% of its workforce). In the latest restructuring plans, the US firm will…