AMD designs processors and related chips for data centers, PCs, game consoles and embedded systems, according to its Form 10-K for 2025. Its products include Instinct AI accelerators, EPYC server CPUs, Ryzen PC processors, Radeon GPUs, FPGAs and adaptive SoCs such as Virtex, Zynq and Versal, and semi-custom chips for the Sony PlayStation 5 and Microsoft Xbox Series S and X. Third-party foundries, including TSMC and GLOBALFOUNDRIES, make its wafers.

What was AMD's revenue in 2025?

AMD reported net revenue of $34,639 million (about $34.6 billion) for fiscal 2025, the 52 weeks ended December 27, 2025, in its Form 10-K filed on February 4, 2026, compared with $25,785 million in 2024. Net income was $4,335 million and diluted earnings per share $2.65.

What are AMD's business segments?

AMD reports three segments: Data Center, Client and Gaming, and Embedded. Until the end of 2024 it reported four (Data Center, Client, Gaming and Embedded); it combined Client and Gaming into one reportable segment from the first quarter of fiscal 2025 but still discloses the two businesses' revenue separately. In 2025, according to its 10-K, Data Center revenue was $16,635 million, Client $10,640 million, Gaming $3,910 million and Embedded $3,454 million.

How much of AMD's revenue comes from data centers?

Data Center revenue was $16,635 million of AMD's $34,639 million total in 2025, according to its 10-K. For the second quarter of 2026 it was $6,718 million of $11,536 million (unaudited), according to its 10-Q, and in its results release AMD's chief financial officer said Data Center represented 58% of company revenue in the quarter.

What are AMD's deals with OpenAI and Meta?

In October 2025 AMD entered into an agreement with OpenAI to deploy 6 gigawatts of AMD GPUs, with the first gigawatt powered by Instinct MI450 series products, and in February 2026 it reached a similar arrangement with Meta Platforms. Each received a warrant to buy up to 160 million AMD shares at $0.01 per share, vesting in tranches tied to GPU purchases and AMD stock price conditions; for Meta, the final tranche requires a $600 share price, according to a Form 8-K. As of June 27, 2026 no warrant shares had vested, according to AMD's 10-Q (unaudited).

How do U.S. export controls affect AMD?

U.S. rules require licenses to ship certain AMD Instinct GPUs and certain Versal FPGAs to China. After an April 2025 license requirement for its MI308 GPUs, AMD recorded about $800 million of inventory and related charges, then reversed about $360 million in the fourth quarter of 2025 after it was granted some licenses and began shipping to certain China-based customers, for net charges of about $440 million in 2025, according to its 10-K.

Is AMD buying World Labs?

On September 26, 2026, AMD entered into a merger agreement to acquire World Labs Technologies, Inc. for a total purchase price of approximately $8.2 billion, to be paid in AMD common stock, subject to customary adjustments, according to a Form 8-K filed on September 28, 2026. The number of shares will be calculated from AMD's volume-weighted average share price over ten trading days ending shortly before closing; the filing does not give an expected closing date.

Lisa Su is Chair, President and Chief Executive Officer, and Jean Hu is Executive Vice President, Chief Financial Officer and Treasurer, according to AMD's 10-Q for the second quarter of 2026. Tim Ryan joined the board on August 19, 2026, when director Joe Householder retired, according to a Form 8-K.

Does AMD pay a dividend or buy back stock?

AMD's 10-K for 2025 says it does not expect to pay dividends in the near future. It has a stock repurchase program of up to $14 billion with no termination date; it bought back 12.4 million shares for $1.3 billion in 2025 and 1.1 million shares for $221 million in the first six months of 2026, and $9.2 billion remained available as of June 27, 2026 (unaudited).

Where is AMD headquartered?

In Santa Clara, California, at 2485 Augustine Drive, according to its Form 10-K for 2025. It also has significant operations in Austin, Texas; San Jose, California; Shanghai, China; Markham, Ontario, Canada; Longmont, Colorado; Dublin, Ireland; Singapore; and Bengaluru and Hyderabad, India.

DalsnaFinance Account

Advanced Micro Devices $AMD

Information Technology · Semiconductors · NASDAQ

Profile updated Oct 13, 2026 Figures as of Oct 11, 2026

S&P 500 Nasdaq-100 Russell 1000 California

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$552.72

+17.98 (+3.36%)

As of Oct 22, 2026, 3:55 AM EDT

Price history

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Today's analyst average Analyst average over timeIndividual analyst targets Analyst history starts Jun 13, 2026, the first target we tracked for AMD.

Key facts

Market cap: $902.30B $552.72 as of Oct 22, 2026, 3:55 AM EDT × 1.63B shares outstanding as of Jul 29, 2026, from the 10-Q cover page (SEC filings)
P/E (trailing): 142.1 $552.72 as of Oct 22, 2026, 3:55 AM EDT ÷ diluted EPS of $3.89 for the four quarters to Jun 27, 2026, one of them a fourth quarter derived as the fiscal year less the first three
EPS (trailing 12 months): $3.89 Diluted, the four quarters to Jun 27, 2026, one of them a fourth quarter derived as the fiscal year less the first three, summed, from SEC filings
52-week range (closes): $190.95 – $649.42 Lowest close Mar 3, 2026, highest Oct 6, 2026; 251 daily closes to Oct 20, 2026 from Dalsna Finance's price archive
Next earnings: Nov 3, 2026, after the close · EPS forecast $1.68 Nasdaq earnings calendar, as of Oct 21, 2026
Fiscal year ends: December Fiscal 2025 ended Dec 27, 2025, from SEC filings
In the S&P 500 since: Mar 20, 2017, replacing Urban Outfitters (URBN), Frontier Communications (FTR) and First Solar (FSLR) · Market capitalization changes. · All S&P 500 changes
In the Nasdaq-100 since: Dec 24, 2018, replacing Express Scripts (ESRX), Hologic (HOLX), Qurate Retail (QRTEA), Shire PLC (SHPG), Seagate Technology (STX) and Vodafone (VOD) · Annual index reconstitution. · All Nasdaq-100 changes
Analyst coverage: 31 open price targets from 22 firms: Bank of America, Citi, Jefferies, Mizuho, Raymond James, Rosenblatt Securities, Stifel, UBS, Baird, Benchmark, Bernstein, BMO Capital Markets, BNP Paribas Exane, CLSA, Goldman Sachs, KeyBanc Capital Markets, Morgan Stanley, Piper Sandler, RBC Capital Markets, Susquehanna, Truist Securities, Wedbush Approved targets tracked here; see the analyst section below

Advanced Micro Devices (AMD) is trading up at $552.72 (+3.36%) on NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Information Technology sector.

Analyst price targets on AMD

Current price targets from 22 firms average $684, median $658, ranging from $465 to $1.25k — the average is 24% above the current $553. Each is tracked to its date and scored the same way a member's call is.

Bank of America $606 → $720 by Oct 2027 Buy Oct 14, 2026 via FXLeaders · Bank of America's track record
UBS $608 → $700 by Oct 2027 Buy Oct 10, 2026 via Stocktwits · UBS's track record
Rosenblatt Securities $608 → $665 by Oct 2027 Buy Oct 10, 2026 via Stocktwits · Rosenblatt Securities's track record
Mizuho $649 → $705 by Oct 2027 outperform Oct 6, 2026 via FXLeaders · Mizuho's track record
BNP Paribas Exane $649 → $960 by Oct 2027 Outperform Oct 6, 2026 via Yahoo Finance · BNP Paribas Exane's track record
Citi $647 → $800 by Oct 2027 Oct 6, 2026 via GuruFocus · Citi's track record
Stifel $632 → $700 by Oct 2027 Oct 5, 2026 via Investing.com · Stifel's track record
Raymond James $634 → $641 by Oct 2027 Strong Buy Oct 2, 2026 via Stocktwits · Raymond James's track record
Rosenblatt Securities $608 → $665 by Sep 2027 Buy Sep 29, 2026 via MarketBeat · Rosenblatt Securities's track record
Bank of America $631 → $720 by Sep 2027 Buy Sep 25, 2026 via Investing.com UK · Bank of America's track record
Piper Sandler $504 → $600 by Sep 2027 Overweight Sep 10, 2026 via Investing.com · Piper Sandler's track record
CLSA $521 → $710 by Sep 2027 Outperform Sep 9, 2026 via Investing.com India · CLSA's track record

Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.

Advanced Micro Devices revenue & net income history (FY2016–FY2025)

RevenueNet incomeNet margin (right axis, %)

Advanced Micro Devices annual financial statements
	FY2016Dec 2016	FY2017Dec 2017	FY2018Dec 2018	FY2019Dec 2019	FY2020Dec 2020	FY2021Dec 2021	FY2022Dec 2022	FY2023Dec 2023	FY2024Dec 2024	FY2025Dec 2025
Income statement
Revenue	$4.32B	$5.33B	$6.47B	$6.73B	$9.76B	$16.4B	$23.6B	$22.7B	$25.8B	$34.6B
Growth (year over year)	+8.2%	+23.4%	+21.5%	+4.0%	+45.0%	+68.3%	+43.6%	−3.9%	+13.7%	+34.3%
Gross profit	$1.00B	$1.79B	$2.45B	$2.87B	$4.35B	$7.93B	$10.6B	$10.5B	$12.7B	$17.2B
Gross margin	23.2%	33.5%	37.8%	42.6%	44.5%	48.2%	44.9%	46.1%	49.4%	49.5%
Operating income	−$373.0M	$127.0M	$451.0M	$631.0M	$1.37B	$3.65B	$1.26B	$401.0M	$1.90B	$3.69B
Operating margin	−8.6%	2.4%	7.0%	9.4%	14.0%	22.2%	5.4%	1.8%	7.4%	10.7%
Net income	−$498.0M	−$33.0M	$337.0M	$341.0M	$2.49B	$3.16B	$1.32B	$854.0M	$1.64B	$4.33B
Net margin	−11.5%	−0.6%	5.2%	5.1%	25.5%	19.2%	5.6%	3.8%	6.4%	12.5%
EPS (diluted)	−$0.60	−$0.03	$0.32	$0.30	$2.06	$2.57	$0.84	$0.53	$1.00	$2.65
Balance sheet
Cash and equivalents	$1.26B	$1.19B	$1.08B	$1.47B	$1.59B	$2.54B	$4.83B	$3.93B	$3.79B	$5.54B
Total assets	$3.32B	$3.55B	$4.56B	$6.03B	$8.96B	$12.4B	$67.6B	$67.9B	$69.2B	$76.9B
Total liabilities	$2.84B	$2.96B	$3.29B	$3.20B	$3.13B	$4.92B	$12.8B	$12.0B	$11.7B	$13.9B
Long-term debt	$1.44B	$1.32B	$1.11B	$486.0M	$330.0M	$1.00M	$2.47B	$1.72B	$1.72B	$2.35B
Shareholders' equity	$477.0M	$596.0M	$1.27B	$2.83B	$5.84B	$7.50B	$54.8B	$55.9B	$57.6B	$63.0B
Cash flow
Operating cash flow	$81.0M	$12.0M	$34.0M	$493.0M	$1.07B	$3.52B	$3.56B	$1.67B	$3.04B	$7.71B
Capital expenditure	$77.0M	$113.0M	$163.0M	$217.0M	$294.0M	$301.0M	$450.0M	$546.0M	$636.0M	$974.0M
Free cash flow	$4.00M	−$101.0M	−$129.0M	$276.0M	$777.0M	$3.22B	$3.12B	$1.12B	$2.40B	$6.74B
Share buybacks	—	—	—	$0	$0	$1.76B	$3.70B	$985.0M	$862.0M	$1.32B

RevenueNet incomeNet margin (right axis, %)

Advanced Micro Devices quarterly financial statements
	Q3 FY24Sep 2024	Q4 FY24^†Dec 2024	Q1 FY25Mar 2025	Q2 FY25Jun 2025	Q3 FY25Sep 2025	Q4 FY25^†Dec 2025	Q1 FY26Mar 2026	Q2 FY26Jun 2026
Income statement
Revenue	$6.82B	$7.66B	$7.44B	$7.68B	$9.25B	$10.3B	$10.3B	$11.5B
Growth (year over year)	+17.6%	+24.2%	+35.9%	+31.7%	+35.6%	+34.1%	+37.8%	+50.1%
Gross profit	$3.42B	$3.88B	$3.74B	$3.06B	$4.78B	$5.58B	$5.42B	$6.20B
Gross margin	50.1%	50.7%	50.2%	39.8%	51.7%	54.3%	52.8%	53.8%
Operating income	$724.0M	$871.0M	$806.0M	−$134.0M	$1.27B	$1.75B	$1.48B	$1.99B
Operating margin	10.6%	11.4%	10.8%	−1.7%	13.7%	17.1%	14.4%	17.3%
Net income	$771.0M	$482.0M	$709.0M	$872.0M	$1.24B	$1.51B	$1.38B	$2.30B
Net margin	11.3%	6.3%	9.5%	11.3%	13.4%	14.7%	13.5%	19.9%
EPS (diluted)	$0.47	$0.30	$0.44	$0.54	$0.75	$0.92	$0.84	$1.38
Balance sheet
Cash and equivalents	$3.90B	$3.79B	$6.05B	$4.44B	$4.81B	$5.54B	$5.58B	$5.09B
Total assets	$69.6B	$69.2B	$71.5B	$74.8B	$76.9B	$76.9B	$79.6B	$84.5B
Total liabilities	$12.7B	$11.7B	$13.7B	$15.2B	$16.1B	$13.9B	$15.2B	$17.2B
Long-term debt	$1.72B	$1.72B	$3.22B	$3.22B	$2.35B	$2.35B	$2.35B	$2.35B
Shareholders' equity	$57.0B	$57.6B	$57.9B	$59.7B	$60.8B	$63.0B	$64.5B	$67.2B
Cash flow
Operating cash flow	$628.0M	$1.30B	$939.0M	$2.01B	$2.16B	$2.60B	$2.96B	$2.37B
Capital expenditure	$132.0M	$208.0M	$212.0M	$282.0M	$258.0M	$222.0M	$389.0M	$808.0M
Free cash flow	$496.0M	$1.09B	$727.0M	$1.73B	$1.90B	$2.38B	$2.57B	$1.56B
Share buybacks	$250.0M	$256.0M	$749.0M	$478.0M	$89.0M	$0	$221.0M	$0

From Advanced Micro Devices's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. Net margin is our own calculation from those reported figures (net income ÷ revenue); it is left blank where revenue is zero or missing. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

Advanced Micro Devices vs the Information Technology sector and the S&P 500

Advanced Micro Devices's latest reported figures next to the median of the other 75 S&P 500 Information Technology companies and of the other 502 S&P 500 companies; each median is taken over the companies with a comparable figure (counts in the footnote). A median is the middle value, not an average, so one very large company does not move it.

Advanced Micro Devices compared with the median Information Technology company and the median S&P 500 company
Measure	Advanced Micro Devices	Information Technology (75 other S&P 500 companies)	S&P 500 (502 other companies)
Revenue growth, latest fiscal year	+34.3%	+13.7%	+7.0%
Net margin, latest fiscal year	12.5%	17.4%	13.0%
Price to trailing earnings (P/E)	142.1	35.3	24.6
Share price change, 1 year	+140.1%	+22.4%	+8.8%

Advanced Micro Devices: fiscal year ended December 2025, from its 10-K and 10-Q filings with the SEC. Medians computed October 22, 2026 from each company's latest annual filing (fiscal years ending between July 2025 and September 2026) and our price archive. Prices for every company, Advanced Micro Devices included, are the last regular-session prices of October 21, 2026; the 1-year change compares that price with each company's last close on or before October 22, 2025. Net margin, P/E and price change are our calculations from reported figures. Each median counts only the companies with a comparable figure (sector / S&P 500): revenue growth 75/496, net margin 75/496, P/E 66/387, 1-year price change 74/498; the reasons below can overlap. P/E medians leave out 23 companies with negative or zero trailing earnings, 91 whose per-share earnings could not be checked (no SEC history held, fewer than four consecutive quarters in dollars, or no archived price history covering the latest filing) and 1 whose shares were re-adjusted after their latest filing; 4 are left out of the price figure because our archive holds no comparable close for them. The S&P 500 price figure is the middle company's change, not the index's return.

About Advanced Micro Devices

Advanced Micro Devices, Inc. (AMD) is an American multinational semiconductor company headquartered in Santa Clara, California. It develops central processing units (CPUs), graphics processing units (GPUs), field-programmable gate arrays (FPGAs), system-on-chips (SoCs), and high-performance computer components. AMD serves a wide range of business and consumer markets, including personal computers (PCs), gaming, data centers, and embedded systems.

Source: Wikipedia — AMD

Headquarters: Santa Clara, California From SEC filings, Oct 2026

Company profile

Advanced Micro Devices, Inc. (AMD) says in its Form 10-K for fiscal 2025 that it drives innovation in high performance and AI computing, with technology used across cloud and AI infrastructure, embedded systems, AI PCs and gaming. Its products include AI accelerators, server and PC processors (CPUs), graphics processors (GPUs), accelerated processing units (APUs), data processing units (DPUs), AI network interface cards, field programmable gate arrays (FPGAs) and adaptive and semi-custom systems-on-chip; its semi-custom chips power the Sony PlayStation 5 and the Microsoft Xbox Series S and X consoles. AMD does not make its own wafers: it uses third-party foundries for all of its products, relying on TSMC for all microprocessor and GPU wafers at 7 nanometer or smaller nodes and primarily on GLOBALFOUNDRIES for larger nodes, and third-party facilities in China, Malaysia and Taiwan perform nearly all product assembly and final testing.

AMD reports three segments: Data Center, Client and Gaming, and Embedded. Beginning in the first quarter of fiscal 2025 it combined the former Client and Gaming segments into one reportable segment and adjusted prior periods, while still disclosing Client and Gaming revenue separately. In fiscal 2025, the 52 weeks ended December 27, 2025, net revenue was $34,639 million and net income $4,335 million. International sales were 67% of net revenue; by the customer's billing location, sales were $11,363 million in the United States, $7,751 million in China (including Hong Kong), $5,186 million in Taiwan and $4,284 million in Singapore. No customer accounted for at least 10% of net revenue in 2025 or 2024, while one Client and Gaming customer accounted for 18% in 2023. 2025 results include approximately $440 million of net inventory and related charges from U.S. export controls on its Instinct MI308 GPUs: about $800 million was recorded in the second quarter, and about $360 million was reversed in the fourth quarter after AMD was granted some licenses and began shipping to certain China-based customers.

In March 2025 AMD completed the acquisition of ZT Systems for $3.2 billion in cash and 8.3 million shares of its common stock. It kept ZT's design business and in October 2025 sold the data center infrastructure manufacturing business to Sanmina Corporation for $2.4 billion in cash, subject to adjustments, and 1.2 million Sanmina shares, with up to $450 million of further contingent cash consideration. In October 2025 it entered into an agreement with OpenAI to deploy 6 gigawatts of AMD GPUs and issued OpenAI a warrant for up to 160 million AMD shares at $0.01 per share, vesting in tranches tied to GPU purchase milestones and AMD stock price targets and performance. On February 23, 2026, under an arrangement for Meta Platforms to buy AMD Instinct GPUs, AMD issued Meta a performance-based warrant for up to 160 million shares at $0.01 per share; Meta made a binding commitment to buy the initial one gigawatt equivalent, full vesting requires purchases of six gigawatt equivalent, and the stock price thresholds escalate to $600 per share for the final tranche, according to a Form 8-K. As of June 27, 2026, no shares under either warrant had vested (10-Q, unaudited). On September 26, 2026, AMD entered into a merger agreement to acquire World Labs Technologies, Inc. for a total purchase price of approximately $8.2 billion, to be paid in AMD common stock, according to a Form 8-K.

According to its 10-Q for the second quarter of 2026 (unaudited), net revenue was $11,536 million for the quarter ended June 27, 2026, a 50% increase on the prior-year quarter, and $21,789 million for the six months; Data Center revenue for the quarter increased by 107% to $6,718 million. Net income for the six months was $3,680 million (unaudited). In May 2026 AMD replaced its $3.0 billion revolving credit facility with a five-year, $5.0 billion facility and raised its commercial paper program limit to $5.5 billion, and on August 17, 2026 it closed a $4.75 billion offering of senior notes due 2029, 2031, 2033 and 2036, intending to use the proceeds for general corporate purposes, which may include repaying debt. After the quarter it entered into investment commitments of up to $5.0 billion, subject to certain conditions, and long-term data center leases with aggregate future payments of $9.5 billion. In its August 4, 2026 results release, furnished with a Form 8-K, AMD said it expects third-quarter 2026 revenue of approximately $13 billion, plus or minus $300 million, and a non-GAAP gross margin of approximately 56%; these are company projections, not reported results.

AMD was incorporated in Delaware on May 1, 1969 and became a publicly held company in 1972. Its executive offices are at 2485 Augustine Drive, Santa Clara, California, its common stock trades on The NASDAQ Global Select Market under the symbol AMD, and it had approximately 31,000 employees at December 27, 2025. Lisa Su is Chair, President and Chief Executive Officer and Jean Hu is Executive Vice President, Chief Financial Officer and Treasurer, according to the 10-Q for the second quarter of 2026. Stockholders elected eight directors at the May 13, 2026 annual meeting; director Joe Householder retired from the board effective August 19, 2026, the day the board appointed Tim Ryan as a director, according to Form 8-K filings.

Summary sources:¹²³⁴⁵⁶⁷⁸

$34,639 million¹

Net revenue, fiscal 2025 (52 weeks ended December 27, 2025)

50%¹

Gross margin, fiscal 2025

$3,694 million¹

Operating income, fiscal 2025

$4,335 million¹

Net income, fiscal 2025 (including $66 million from discontinued operations)

$2.65¹

Diluted earnings per share, fiscal 2025

$1,641 million¹

Net income, fiscal 2024

$854 million¹

Net income, fiscal 2023

$1,320 million⁹

Net income, fiscal 2022 (53 weeks ended December 31, 2022)

$8,091 million¹

Research and development expenses, fiscal 2025

$7,709 million¹

Net cash provided by operating activities, fiscal 2025 (including $1,216 million from discontinued operations)

$974 million¹

Purchases of property and equipment, fiscal 2025 (continuing operations)

$10.6 billion¹

Cash, cash equivalents and short-term investments, December 27, 2025

$3,250 million¹

Total debt, principal amount, December 27, 2025

approximately 31,000¹

Employees, December 27, 2025 (approximate)

12.4 million shares for $1.3 billion¹

Share repurchases under the repurchase program, fiscal 2025

$11,536 million⁴

Net revenue, three months ended June 27, 2026 (unaudited)

$21,789 million⁴

Net revenue, six months ended June 27, 2026 (unaudited)

$3,466 million⁴

Operating income, six months ended June 27, 2026 (unaudited)

$3,680 million⁴

Net income, six months ended June 27, 2026 (unaudited)

$2.22⁴

Diluted earnings per share, six months ended June 27, 2026 (unaudited)

$13.1 billion⁴

Cash, cash equivalents and short-term investments, June 27, 2026 (unaudited)

approximately $30.3 billion⁴

Unconditional commitments, June 27, 2026 (unaudited; mainly wafers, substrates, components and cloud capacity)

$9.2 billion⁴

Remaining share repurchase authorization, June 27, 2026 (unaudited)

1,632,475,042⁴

Shares of common stock outstanding, July 29, 2026 (10-Q cover)

$1.66⁷

Diluted earnings per share, second quarter of 2026 (non-GAAP measure, from the results release; GAAP was $1.38)

$5.0 billion⁵

Revolving credit facility entered into May 14, 2026 (five years, unsecured)

$4.75 billion⁶

Senior notes issued August 17, 2026

up to 160 million shares²

Warrant issued to Meta Platforms, February 23, 2026 (exercise price $0.01 per share)

approximately $8.2 billion³

World Labs acquisition price under the September 26, 2026 merger agreement (payable in AMD stock)

approximately $13 billion, plus or minus $300 million⁷

Revenue outlook, third quarter of 2026, August 4, 2026 (company projection)

Revenue by fiscal year, as reported in 10-K

Fiscal year	Revenue (as reported in 10-K)	Reported as	Filed
2022	$23,601 million⁹	Form 10-K for fiscal year 2022 (53 weeks ended December 31, 2022), net revenue, in millions as filed	Feb 27, 2023
2023	$22,680 million¹⁰	Form 10-K for fiscal year 2023 (52 weeks ended December 30, 2023), net revenue, in millions as filed	Jan 31, 2024
2024	$25,785 million¹¹	Form 10-K for fiscal year 2024 (52 weeks ended December 28, 2024), net revenue, in millions as filed	Feb 5, 2025
2025	$34,639 million¹	Form 10-K for fiscal year 2025 (52 weeks ended December 27, 2025), net revenue, in millions as filed	Feb 4, 2026

Products

Data Center

Name	Released	What it is
AMD EPYC server CPUs	—	x86 server processors for high-performance computing, enterprise IT, supercomputing and large data centers, listed under Server CPUs in the 10-K for 2025, which says the 5th generation family improves performance and efficiency for AI, cloud and enterprise workloads.¹
5th Gen AMD EPYC processors (codenamed "Turin")	Oct 10, 2024	Server CPUs with "Zen 5" and "Zen 5c" cores and 8 to 192 cores per CPU. AMD said on October 10, 2024 that the entire lineup was available that day, with support from Cisco, Dell, Hewlett Packard Enterprise, Lenovo and Supermicro.¹²
6th Gen AMD EPYC CPUs ("Venice")	—	Server CPUs AMD said it launched on July 23, 2026, with the EPYC 9996 at 256 cores and 512 threads. Helios racks use 18 of them, and AMD said Meta was validating 6th Gen EPYC platforms. The release gives no general availability date.¹³
AMD Instinct data center GPUs	—	Accelerators based on the AMD CDNA architecture for AI training, AI inference and exascale-class scientific computing; the 10-K for 2025 lists the MI200, MI300, MI325 and MI350 series.¹
AMD Instinct MI350 Series (MI350X and MI355X)	—	Announced on June 12, 2025 as the MI350X and MI355X GPUs and platforms. AMD said its rack-scale AI infrastructure was already rolling out with the MI350 Series in hyperscaler deployments such as Oracle Cloud Infrastructure, set for broad availability in the second half of 2025.¹⁴
AMD Instinct MI400 Series (MI455X and MI430X)	—	GPUs with which, AMD said on July 23, 2026, it delivers powerful performance for cloud, enterprise and HPC workloads. Helios racks use the MI455X, and AMD said MI430X accelerators are powering the next wave of exascale-class supercomputers across the U.S. and Europe.¹³
AMD Instinct MI350P	—	A GPU that AMD said it launched on July 23, 2026, bringing AI acceleration to existing infrastructure.¹³
AMD "Helios" rack-scale AI platform	—	A rack of 72 Instinct MI455X GPUs and 18 6th Gen EPYC "Venice" CPUs, linked by Pensando networking and running ROCm software. AMD said on July 23, 2026 that Helios was now in production; systems are to come from OEMs including Bull, HPE, Lenovo and Supermicro.¹³
AMD Radeon PRO V visual cloud GPUs	—	Data center GPUs for remote visualization, including Desktop-as-a-Service, Workstation-as-a-Service and cloud gaming, according to the 10-K for 2025.¹
Data center FPGAs, adaptive SoCs and Alveo cards	—	Virtex, Kintex, Artix and Spartan FPGAs, Zynq and Versal adaptive SoCs, and Alveo accelerator cards that accelerate data center workloads at the edge or in the cloud, according to the 10-K for 2025.¹
AMD Pensando DPUs	—	Data processing units and a networking software stack that offload data center infrastructure services from the host CPU; the 10-K for 2025 says large infrastructure-as-a-service cloud providers use them for virtualized and bare-metal offerings.¹
AMD Pensando "Pollara" 400 and "Vulcano" AI NICs	—	AI network interface cards for high-speed connectivity across GPU clusters, which the 10-K for 2025 says AMD introduced.¹
Solarflare networking	—	Low-latency networking for capital markets, including hardware adapters and the Onload user-space networking libraries, according to the 10-K for 2025.¹
AMD ROCm software	—	AMD's open software platform for AI training and inference on its GPUs. The 10-K for 2025 says AMD added key optimizations and expanded framework and library support in 2025.¹
ROCm.ai	—	An AI-native developer experience designed to help developers build, deploy and optimize faster across AMD platforms. AMD said in its August 4, 2026 results release that it had released ROCm.ai.⁷

Client

Name	Released	What it is
AMD Ryzen 9000 Series desktop processors	—	Desktop CPUs with "Zen 5" cores for the Socket AM5 platform; X3D models add 2nd generation AMD 3D V-Cache for gaming. The 10-K for 2025 says the Ryzen 9 9950X3D and 9900X3D were launched in 2025.¹
AMD Ryzen 7 9850X3D	—	A gaming desktop processor announced on January 5, 2026, with boost up to 5.6 GHz and 104MB total cache. AMD said systems would be available from OEMs and SI and retail partners beginning in the first quarter of 2026.¹⁵
AMD Ryzen Threadripper 9000 Series	—	Desktop processors for professional workstations, with more cores, more memory bandwidth and updated platform capabilities, according to the 10-K for 2025.¹
AMD Ryzen AI 300 Series	—	Notebook processors with "Zen 5" cores, AMD RDNA 3.5 graphics and a next-generation NPU supporting Microsoft Copilot+ PCs, according to the 10-K for 2025.¹
AMD Ryzen AI 400 Series and Ryzen AI PRO 400 Series	—	Processors for Copilot+ PCs and business laptops, announced on January 5, 2026 with up to 12 CPU cores and up to 60 NPU TOPS. AMD said systems would be available beginning in the first quarter of 2026 and desktops later in the second quarter of 2026.¹⁵
AMD Ryzen AI Max+ 392 and Ryzen AI Max+ 388	—	Additions to the Ryzen AI Max lineup for thin laptops, workstations and compact mini-PCs, announced on January 5, 2026; AMD said systems would be available beginning in the first quarter of 2026.¹⁵
AMD Ryzen AI Halo	—	Systems purpose-built for developers to build, test and run agentic AI workflows locally, with AMD ROCm open software support. AMD said in its August 4, 2026 results release that it had released them.⁷
AMD Ryzen Z2 Series	—	Processors for handheld gaming systems, including the Asus ROG Xbox Ally, which the 10-K for 2025 says AMD introduced alongside its continuing Ryzen Z1 Series.¹
AMD Ryzen PRO commercial processors	—	Processors with enterprise security, manageability and reliability features for business PCs, including Ryzen AI PRO 300 Series notebooks, Ryzen PRO 200 Series mobile processors launched in 2025, Ryzen PRO 8000G desktops and Ryzen Threadripper PRO workstations.¹
Chipsets	—	A full suite of chipsets supporting Ryzen and Ryzen Threadripper platforms, from entry-level desktops to professional workstations, according to the 10-K for 2025.¹

Gaming

Name	Released	What it is
Semi-custom SoCs	—	Customer-specific chips built on AMD CPU, GPU and multimedia technologies and defined with each customer. The 10-K for 2025 says they power the Sony PlayStation 5, the Microsoft Xbox Series S and X, and the recently revealed Valve Steam Machine PC.¹
AMD Radeon RX 9070 XT and RX 9070	—	Graphics cards announced on February 28, 2025 as a part of the Radeon RX 9000 Series, on the RDNA 4 architecture with 16GB of GDDR6 memory. AMD said they were expected from board partners including Acer, ASUS, Gigabyte, Sapphire and XFX starting March 6, 2025.¹⁶
AMD Radeon RX discrete GPUs	—	Discrete graphics for desktop and notebook gaming and creation PCs. The 10-K for 2025 says the RDNA 4-based Radeon RX 9000 Series was released in 2025, and that all graphics products are supported by the AMD Software: Adrenalin Edition application.¹
AMD FSR "Redstone"	Dec 2025	Machine-learning upscaling and frame generation features that AMD said deliver sharper visuals and smoother frame rates. On January 5, 2026 AMD said it had released them the month before, and that they were available through the AMD Software: Adrenalin Edition 25.12.1 driver.¹⁵
AMD Radeon PRO and Radeon AI PRO R9000 Series	—	Professional GPUs for desktop workstations, for 3D rendering, CAD and media and entertainment. The 10-K for 2025 says the Radeon AI PRO R9000 Series was launched in 2025 for local AI inference and creative workloads.¹

Embedded

Name	Released	What it is
AMD EPYC Embedded 9005, 4005 and 2005 Series	—	Three embedded server processor series the 10-K for 2025 says AMD introduced in 2025, for networking, storage and edge server applications with extended lifecycles.¹
AMD Ryzen Embedded 9000 Series	—	Embedded processors for automation systems and machine vision, alongside the Ryzen Embedded V-Series and R-Series, according to the 10-K for 2025.¹
AMD Ryzen AI Embedded P100 and X100 Series	—	A new Ryzen AI Embedded processor family of two series, which the 10-K for 2025 says AMD introduced in January 2026, complementing its EPYC Embedded CPUs and Ryzen Embedded V-Series and R-Series processors.¹
AMD Versal adaptive SoCs	—	Software-programmable adaptive SoCs combining a processing system, programmable logic, AI Engines and DSP Engines, for markets including aerospace and defense, automotive, industrial and data center. The family includes the Versal RF Series and Versal Premium Series Gen 2.¹
AMD Zynq SoCs, MPSoCs and RFSoCs	—	Devices that combine FPGA technology with a processing system; the Zynq UltraScale+ RFSoC adds integrated radio frequency data converters, for wireless, radar and cable access, according to the 10-K for 2025.¹
AMD FPGAs (UltraScale+, UltraScale and 7 Series)	—	Hardware-customizable chips that let customers differentiate their products and speed time to market, according to the 10-K for 2025, which lists the UltraScale+, UltraScale and 7 Series families and earlier series.¹
AMD Kria SOMs and starter kits	—	System-on-modules and kits for rapid prototyping in motor control and edge AI, including the Kria K24 SOM for electric drives and motor controllers and the Kria KD240 Drives Starter Kit, according to the 10-K for 2025.¹
AMD Vivado, Vitis and Vitis AI	—	Design software for AMD FPGAs and adaptive SoCs: Vivado for hardware design teams, Vitis for embedded software and accelerated applications, and Vitis AI for AI software, according to the 10-K for 2025.¹

Segments and products

Data Center: AI accelerators, server CPUs, GPUs, APUs, DPUs, AI network interface cards, FPGAs and adaptive SoC products for data centers, sold mainly to hyperscale data centers, OEMs, ODMs, system integrators and distributors. Net revenue was $16,635 million in 2025, $12,579 million in 2024 and $6,496 million in 2023, and operating income was $3,603 million in 2025 and $3,482 million in 2024, as reported in the 10-K for 2025. Operating income in 2025 was reduced by approximately $440 million of net inventory and related charges for the export-controlled MI308 GPUs.¹
Client and Gaming: CPUs, APUs and chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services. Net revenue was $14,550 million in 2025 (Client $10,640 million, Gaming $3,910 million), $9,649 million in 2024 (Client $7,054 million, Gaming $2,595 million) and $10,863 million in 2023 (Client $4,651 million, Gaming $6,212 million). Operating income was $2,855 million in 2025 and $1,187 million in 2024. Client and Gaming became one reportable segment in the first quarter of 2025; neither business qualifies as a reportable segment on its own, but AMD still discloses their revenue separately.¹
Client revenue drivers, 2025 (as corrected): AMD filed Amendment No. 1 to its 10-K for 2025 on the day of the original filing, solely to correct the Client revenue discussion, where the changes in average selling price and unit shipments had been transposed. As corrected, Client net revenue of $10.6 billion in 2025 increased 51% from $7.1 billion in 2024, primarily driven by a 15% increase in unit shipments of processors and a 31% increase in average selling price of processors. The amendment changes no other disclosure.¹⁷
Embedded: Embedded CPUs, APUs, FPGAs, system-on-modules and adaptive SoC products for markets including aerospace and defense, automotive, industrial, vision and healthcare, communications infrastructure, and test and measurement. Net revenue was $3,454 million in 2025, $3,557 million in 2024 and $5,321 million in 2023, and operating income was $1,243 million in 2025 and $1,421 million in 2024, as reported in the 10-K for 2025, which says certain end market demand remained mixed in 2025.¹
All Other (not a reportable segment): Expenses and credits AMD does not allocate to its segments. The All Other operating loss was $4,007 million in 2025, mainly $2,254 million of amortization of acquisition-related intangibles and $1,638 million of stock-based compensation expense, and $4,190 million in 2024.¹
Earlier structure: four segments: In its 10-K for 2024, AMD reported four segments: Data Center, Client, Gaming and Embedded. The Client and Gaming segments above were combined from the first quarter of fiscal 2025.¹¹
Segments in the first half of 2026 (unaudited): For the six months ended June 27, 2026, net revenue was $12,493 million in Data Center, $7,446 million in Client and Gaming (Client $5,947 million, Gaming $1,499 million) and $1,850 million in Embedded, with operating income of $3,702 million, $1,157 million and $724 million respectively. For the second quarter alone, revenue was $6,718 million in Data Center, $3,062 million in Client, $779 million in Gaming and $977 million in Embedded; Gaming revenue for the quarter decreased by 31%, primarily due to lower semi-custom revenue.⁴

Risks

Intense competition: AMD says its markets are highly competitive and rapidly evolving, and that some competitors have stronger market positions and greater resources. It names Intel, which it says uses its microprocessor market position to price aggressively and target AMD's customers and channel partners with special incentives, and Nvidia, which it says leverages its data center GPU position, financial resources and proprietary software ecosystem. It also cites Arm-based alternatives, customers developing their own products for AI workloads, and Nvidia's September 2025 partnership with and investment in Intel, which it says may increase competition and pricing pressure.¹
Uncertain demand for AI products: AMD says it has seen significant demand for its AI accelerators since 2024, but that this demand depends in part on how far customers use generative AI, whose near-term and long-term trajectory is unknown. Some AI customers may be unable to secure data center capacity or energy, construction delays could affect the timing of demand, and customers may lack capital and ask vendors for alternative financing or deferred payment, any of which could delay or reduce demand for its products.¹
Export controls and China: AMD says U.S. export rules prevent it from shipping certain Instinct GPUs and certain Versal FPGAs to China, or to customers headquartered there, without a license. An April 2025 license requirement affected its MI308 products and led to approximately $800 million of inventory and related charges in the second quarter of 2025; after receiving some licenses it began shipping in the fourth quarter and reversed approximately $360 million. U.S. officials have said they expect the government to receive 15% of revenue from licensed MI308 sales to China, though no regulation has been published, and AMD says future restrictions could reach more products and markets.¹
Reliance on TSMC and other manufacturers: AMD relies on third-party foundries for all of its wafers, on TSMC for all microprocessor and GPU wafers at 7 nanometer or smaller nodes, and on third parties for assembly, test, mark and packaging, most of it through two joint ventures with affiliates of Tongfu Microelectronics. It says it lacks long-term commitment contracts with some of these suppliers, which also make products for its competitors and could prioritize other customers, raise prices or reduce deliveries, and that a wafer supply agreement with GLOBALFOUNDRIES sets minimum annual capacity and pricing through 2026.¹
Supply of memory and other materials: AMD says some equipment, materials and components, including memory, substrates and IC packages, come from a limited number of suppliers or a single supplier. It says there is currently an industry-wide memory shortage and that memory prices have risen, and that if it cannot obtain a stable supply at reasonable cost it could face shortages or higher production costs. It also has long-term purchase commitments and prepayments with some suppliers, which could leave it with excess inventory if demand falls.¹
Dependence on a small number of customers: AMD says it depends on a small number of customers for a substantial portion of its business and expects that to continue. If a key customer stops buying, materially reduces its demand or operations, or cannot use AMD's products or pay its liabilities, its business would be materially adversely affected. Its semi-custom revenue also depends on customers' products, such as game consoles, succeeding in the market.¹
Geopolitics, Taiwan and international operations: International sales were 67% of AMD's net revenue in 2025, and nearly all assembly and final testing is done at third-party facilities in China, Malaysia and Taiwan. AMD says geopolitical changes between China and Taiwan could disrupt its Taiwan-based foundries, manufacturing facilities and subcontractors, and lists other risks including tariffs, trade restrictions, a worsening U.S.-China relationship, armed conflicts and natural disasters; it notes that its California operations are near major earthquake fault lines and that Taiwan, where its third-party wafer foundries are located, had an earthquake in April 2024.¹
Acquisitions, divestitures and guarantees: AMD says acquisitions such as ZT Systems may fail to deliver their expected benefits if it cannot integrate them, and that divestitures carry risks including post-closing purchase price adjustments. Its acquisitions have produced significant goodwill and intangible assets that could be impaired. It also says it may have to meet financial obligations under guarantees and commercial commitments made to support customers' or partners' infrastructure; after year-end it agreed to guarantee a commercial partner's data center lease obligations, with a maximum gross exposure of $4.1 billion that declines as the partner pays the lessor over 15 years.¹
A cyclical industry: AMD says the semiconductor industry is highly cyclical and has had significant downturns, and that it has incurred substantial losses in past downturns because of falling average selling prices, supply and demand imbalances, weaker demand for products that use its chips, and excess inventory. It also says its quarterly results are hard to predict because a large portion of sales has historically come in the last month of a quarter, and that revenue has generally been higher in the second half of the year.¹

Frequently asked questions

What does AMD do?: AMD designs processors and related chips for data centers, PCs, game consoles and embedded systems, according to its Form 10-K for 2025. Its products include Instinct AI accelerators, EPYC server CPUs, Ryzen PC processors, Radeon GPUs, FPGAs and adaptive SoCs such as Virtex, Zynq and Versal, and semi-custom chips for the Sony PlayStation 5 and Microsoft Xbox Series S and X. Third-party foundries, including TSMC and GLOBALFOUNDRIES, make its wafers.
What was AMD's revenue in 2025?: AMD reported net revenue of $34,639 million (about $34.6 billion) for fiscal 2025, the 52 weeks ended December 27, 2025, in its Form 10-K filed on February 4, 2026, compared with $25,785 million in 2024. Net income was $4,335 million and diluted earnings per share $2.65.
What are AMD's business segments?: AMD reports three segments: Data Center, Client and Gaming, and Embedded. Until the end of 2024 it reported four (Data Center, Client, Gaming and Embedded); it combined Client and Gaming into one reportable segment from the first quarter of fiscal 2025 but still discloses the two businesses' revenue separately. In 2025, according to its 10-K, Data Center revenue was $16,635 million, Client $10,640 million, Gaming $3,910 million and Embedded $3,454 million.
How much of AMD's revenue comes from data centers?: Data Center revenue was $16,635 million of AMD's $34,639 million total in 2025, according to its 10-K. For the second quarter of 2026 it was $6,718 million of $11,536 million (unaudited), according to its 10-Q, and in its results release AMD's chief financial officer said Data Center represented 58% of company revenue in the quarter.
What are AMD's deals with OpenAI and Meta?: In October 2025 AMD entered into an agreement with OpenAI to deploy 6 gigawatts of AMD GPUs, with the first gigawatt powered by Instinct MI450 series products, and in February 2026 it reached a similar arrangement with Meta Platforms. Each received a warrant to buy up to 160 million AMD shares at $0.01 per share, vesting in tranches tied to GPU purchases and AMD stock price conditions; for Meta, the final tranche requires a $600 share price, according to a Form 8-K. As of June 27, 2026 no warrant shares had vested, according to AMD's 10-Q (unaudited).
How do U.S. export controls affect AMD?: U.S. rules require licenses to ship certain AMD Instinct GPUs and certain Versal FPGAs to China. After an April 2025 license requirement for its MI308 GPUs, AMD recorded about $800 million of inventory and related charges, then reversed about $360 million in the fourth quarter of 2025 after it was granted some licenses and began shipping to certain China-based customers, for net charges of about $440 million in 2025, according to its 10-K.
What does AMD expect for the third quarter of 2026?: In its August 4, 2026 results release, furnished with a Form 8-K, AMD said it expects third-quarter 2026 revenue of approximately $13 billion, plus or minus $300 million, and a non-GAAP gross margin of approximately 56%. These are company projections, not reported results.
Is AMD buying World Labs?: On September 26, 2026, AMD entered into a merger agreement to acquire World Labs Technologies, Inc. for a total purchase price of approximately $8.2 billion, to be paid in AMD common stock, subject to customary adjustments, according to a Form 8-K filed on September 28, 2026. The number of shares will be calculated from AMD's volume-weighted average share price over ten trading days ending shortly before closing; the filing does not give an expected closing date.
Who runs AMD?: Lisa Su is Chair, President and Chief Executive Officer, and Jean Hu is Executive Vice President, Chief Financial Officer and Treasurer, according to AMD's 10-Q for the second quarter of 2026. Tim Ryan joined the board on August 19, 2026, when director Joe Householder retired, according to a Form 8-K.
Does AMD pay a dividend or buy back stock?: AMD's 10-K for 2025 says it does not expect to pay dividends in the near future. It has a stock repurchase program of up to $14 billion with no termination date; it bought back 12.4 million shares for $1.3 billion in 2025 and 1.1 million shares for $221 million in the first six months of 2026, and $9.2 billion remained available as of June 27, 2026 (unaudited).
Where is AMD headquartered?: In Santa Clara, California, at 2485 Augustine Drive, according to its Form 10-K for 2025. It also has significant operations in Austin, Texas; San Jose, California; Shanghai, China; Markham, Ontario, Canada; Longmont, Colorado; Dublin, Ireland; Singapore; and Bengaluru and Hyderabad, India.