Rumor had it that AMD had canned their Kaveri range, but AMD has been quick to dismiss the rumor and set the record straight; AMD flat out denied that it has cancelled the Kaveri range.
Website SemiAccurate are always good for an accurate rumor or two though and are quite often bang on the money with their details, only time will tell if AMD are telling the truth or are just on damage control with this one. SemiAccurate stated that AMD killed off their "big core" team with the last wave of staff reductions. This will have meant killing off both Steamroller and Excavator development. They also went on to state that it terminated "big core" development, with the aim of developing Kabini hardware using new ARM components.
Phil Hughes from AMD has different ideas though, claiming that Kaveri and Steamroller components are still on their way, as well as big core development.
It's a tough time for AMD and cuts will need to be made somewhere, infact many cuts have already taken place as the company tries to turn a profit in this ever more difficult financial climate. One thing is for certain, AMD need to get these products on the shelves sooner, not later or it may end up being a one horse CPU race with Intel at the reigns.