ADVANCED MICRO DEVICES · NASDAQ: AMD
Advanced Micro Devices (AMD) Stock Research
Research Advanced Micro Devices (AMD) earnings, business trends, valuation context, institutional ownership, risks, and the next investor checkpoints.
- Latest financial period
- Q2 2026
- Latest filing
- Aug 5, 2026
- Research updated
- Sep 15, 2026
01
Reported evidence
Latest AMD financial snapshot
Q2 2026 · filed Aug 5, 202602
Latest filing analysis
What changed in the latest reported period
Q2 2026 revenue increased 50% year over year and 13% sequentially to a record $11.54 billion.
Data Center revenue more than doubled to $6.72 billion and represented 58% of company revenue, driven by EPYC processors and Instinct GPUs.
GAAP gross margin increased to 54% from 40%, partly because the prior-year quarter included $800 million of MI308 export-control inventory and related charges.
GAAP operating income reached $1.99 billion compared with a $134 million loss a year earlier; diluted EPS increased to $1.38.
Client revenue rose 23% to $3.06 billion, Gaming revenue declined 31% to $779 million, and Embedded revenue increased 19% to $977 million.
03
BasisPilot
What matters for AMD now
Instinct deployment
Data Center revenue grew 107% to $6.72 billion. The next checkpoints are accelerator supply, customer deployments and revenue contribution from newer systems.
Evidence checkpointEPYC server share
AMD cited strong EPYC demand as a Data Center growth driver. Cloud and enterprise adoption determine the durability of CPU share gains.
Evidence checkpointMargin comparability
Q2 GAAP gross margin rose 14 points, but the comparison benefited from $800 million of export-control charges in Q2 2025. Future comparisons need that base effect separated.
Evidence checkpointClient versus Gaming
Client revenue increased 23%, while Gaming declined 31% because of lower semi-custom revenue. Segment mix affects growth and profitability.
Evidence checkpointExport controls
Restrictions affecting Instinct products can change addressable demand, product design, inventory and shipment timing in China and other markets.
Evidence checkpoint04
Revenue mix
How Advanced Micro Devices makes money
05
Historical filings
AMD earnings history
| Period | Revenue | YoY | EPS | Filed |
|---|---|---|---|---|
| Q2 2026 | $11.5B | 50% | 1.38 | Aug 5, 2026 |
06
Valuation context
AMD valuation
Evaluate AMD through revenue growth, margins, cash generation and the expectations implied by the market price. BasisPilot does not display an undated valuation multiple.
07
SEC 13F
Institutional ownership
15
BasisPilot Insights
Latest Advanced Micro Devices research
Sep 15, 2026
AI Slowdown vs. Compute Demand: What the Selloff Really Means for Nvidia, AMD and Micron
Nvidia, AMD and Micron sold off as investors debated slower frontier-AI development. See why inference demand, hyperscaler capex, HBM and data centers matter more than the headline.
Nov 4, 2026AMD Q3 2026 Earnings: Data Center Revenue Nearly Doubles as the $17 Billion Q4 Guide Raises the Stakes
AMD reported $13.377B of quarterly revenue, 97% data-center growth and a $17B Q4 outlook. Understand GAAP margins, Helios execution and risks.
Oct 1, 2026HPE's $1.2 Billion Vultr Order: The AI Infrastructure Opportunity Beyond the GPU
HPE's first AMD Helios order brings compute and Juniper networking together. Here is how the Vultr deal could translate into revenue, margins and execution risk.
Sep 29, 2026AMD Buys World Labs for $8.2 Billion: Why Fei-Fei Li and Physical AI Matter to AMD’s Next Growth Phase
AMD agreed to acquire Fei-Fei Li’s World Labs for $8.2 billion in stock. The deal brings spatial intelligence, world models and robotics research inside AMD as physical AI becomes a major new compute market.
Sep 22, 2026AMD Reaches a $1 Trillion Market Cap: Why the Stock Jumped and What Comes Next
AMD briefly crossed a $1 trillion market value after shares surged nearly 10% on September 21. Here is what drove the move, how AI data-center growth supports it and what could challenge the valuation.
14
Decision support
Risks and next checkpoints
AMD competes with NVIDIA, Intel and custom silicon across accelerators, CPUs and client computing on performance, software, supply and price.
Export controls can restrict Instinct sales, require product redesigns and create inventory or related charges.
Data Center growth depends on a concentrated group of cloud and AI customers whose deployment timing can make revenue volatile.
Advanced products depend on external foundries, packaging, memory and other suppliers; constraints can delay shipments or raise costs.
The sharp Q2 gross-margin improvement benefited from an unfavorable prior-year charge, so the reported year-over-year expansion is not fully recurring.
Gaming and semi-custom demand can decline as console cycles mature, offsetting growth in Data Center or Client products.
16
FAQ
AMD investor questions
What was AMD's latest quarterly revenue?
AMD reported $11.54 billion of Q2 2026 revenue, up 50% year over year and 13% sequentially, with $1.99 billion of GAAP operating income.
How fast is AMD's Data Center business growing?
Data Center revenue increased 107% to $6.72 billion and represented 58% of company revenue, driven by EPYC processors and Instinct GPUs.
Why did AMD's gross margin rise sharply?
GAAP gross margin increased to 54% from 40%, but the prior-year quarter included $800 million of MI308 export-control inventory and related charges, creating a significant base effect.
How did AMD's Client and Gaming businesses perform?
Client revenue increased 23% to $3.06 billion, while Gaming revenue declined 31% to $779 million because of lower semi-custom revenue.
Are AMD 13F holdings real-time?
No. Form 13F reports delayed quarter-end positions and does not reveal real-time trades or institutions' true historical cost.
What should AMD investors monitor next?
Key checkpoints are Instinct deployments, EPYC server share, Data Center customer demand, gross margin, export controls, supply constraints and the Gaming cycle.
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Provenance
Sources and methodology
Primary SEC filings and issuer releases take precedence. Financial, market, ownership and page-update dates are shown separately, while historical values retain their original reporting period.