Pros
The best thing about working for AMD is the technology. AMD's processors are cutting-edge and employees can learn a lot from working on these processors. The culture is open and encourages sharing of technical information. By and large the employees are friendly and the work-life balance is great.
Kontras
The company seems always to be just one step away from financial meltdown. This, unfortunately, has an effect on the way the company operates - there are quite a few penny-wise-pound-foolish decisions and teams are often understaffed. The effect of being understaffed is that everything gets done in a hurry, which isn't great for quality, because we're constantly picking up technical debt. Also, often there isn't enough time to think through things and actually acquire understanding because of the rush to get stuff done and move on to the next task. The other issues with AMD are that it's very hierarchical, there seems to be quite a lot of disparity in how employees are treated, paid etc., and finally the pay and stock options (for those who get them) are well below the market average.