AMD reported strong Q2 results, with its quarterly data-center revenue more than doubling to $6.72 billion, beating expectations. Its second-quarter revenue jumped 50% to $11.54 billion, also surpassing estimates. The company's investments in AI and data-center infrastructure are beginning to pay off, with sales of its data-center processors accelerating in the second quarter. AMD has also stepped up its AI product launches and moved beyond selling individual chips to offering AI systems that combine processors, networking gear and related hardware.
AMD forecast quarterly revenue above Wall Street estimates on Tuesday, banking on strong demand for its chips from massive data-center capacity expansions to power AI technologies.
Its shares fell nearly 9% in extended trading, suggesting that investors were looking for an even stronger outlook after the stock more than doubled this year spurred on by AI optimism. The Santa Clara, California-based company is regarded as chip giant Nvidia’s closest rival in the market for graphics processing units, as major technology companies and governments worldwide ramp up spending on AI infrastructure.
Its third-quarter revenue of about $13 billion, plus or minus $300 million, is expected to be largely in line with estimates. The company expects its data-center sales to more than double in 2027, and forecast total revenue growth above its more than 35% target and annual earnings above its $20-per-share goal set at its 2025 analyst day.
Its investments to challenge Nvidia’s dominance in the market for AI chips are beginning to pay off, with sales of its data-center processors accelerating in the second quarter. The company has stepped up its AI product launches and moved beyond selling individual chips to offering AI systems that combine processors, networking gear and related hardware, giving customers an integrated option.
It is also benefiting from growing demand for central processing units, which are used alongside pricey graphics processors in servers for inference. At AMD’s AI event in July, Ms. Su had said the company’s second-generation Helios AI servers, featuring the MI455X AI accelerator and ‘Venice’ processor made by TSMC, were in full production and would begin shipping in the coming months.
In July, AMD agreed to sell Anthropic tens of billions of dollars worth of AI servers powered by up to 2 gigawatts of MI450 chips from early 2027, and invest up to $5 billion in the IPO-bound Claude maker, contingent on deployment milestones. It locked in up to 2.5 GW of data-center capacity through a deal with Core Scientific a week ago, while gaining warrants to purchase the company’s stock
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