The dirty secret in the tech industry is that most people at AMD or Intel or IBM and historically Nvidia/Oracle (this changed post 2022), were the 2nd-3rd tier tech companies. Staffed heavily by the rejects of the FAANG, they were still happy to have their 100-200K in their MCOL areas, but no free food and a much more boring work culture. Intel's "great place to work" corporate propaganda was known as "great place to leetcode" while I worked there, as Intel was always seen as a stepping stone before you "made it" in a FAANG.
Culturally, none of these companies were happy to pay anyone except the tip, top "distinguished" engineers more than 300K. AMD seems to be stuck in this mentality, just as IBM is.