Advanced Micro Devices Inc. reported Q3 2026 revenue of $13.38 billion and adjusted EPS of $2.09, driven by a 97% surge in data center sales to $8.55 billion. CEO Lisa Su projected 2027 revenue to grow over 80%, exceeding Wall Street expectations as server sales double and agentic AI adoption accelerates. The strong results and $17 billion Q4 revenue outlook eased broader AI market sell-off fears, contrasting sharply with competitor Intel Corp.'s recent stock drop amid personal computer market component shortages.
AMD 2027 growth outlook and supply
- ▪Advanced Micro Devices Inc. Chief Executive Officer Lisa Su forecast that total company revenue will increase more than 80% in 2027, exceeding Wall Street expectations of 75% to 77% growth
- ▪Advanced Micro Devices Inc. secured supply chain commitments for wafers, substrates, advanced packaging, and memory to support higher production in 2027 after meetings with TSMC, SK Hynix, and Samsung
- ▪CEO Lisa Su said Advanced Micro Devices Inc. expects server revenue to double year-over-year in 2027, with data center sales accounting for up to 80% of total company revenue
AMD Q3 results and Q4 guidance
- ▪Advanced Micro Devices Inc. projected its Q4 2026 adjusted gross margin to be approximately 55%, down from 56% in Q3 2026
- ▪Advanced Micro Devices Inc. forecast Q4 2026 revenue of approximately $17 billion, plus or minus 3%, beating average analyst estimates of $16.2 billion to $16.3 billion
- ▪Advanced Micro Devices Inc. reported Q3 2026 adjusted earnings per share of $2.09, beating analyst estimates of $1.95 to $1.97 per share
- ▪Advanced Micro Devices Inc. reported Q3 2026 revenue of $13.38 billion, representing a 45% year-over-year increase and exceeding consensus estimates of $13.09 billion
AMD data center AI hardware growth
- ▪Advanced Micro Devices Inc. data center segment revenue rose 97% year-over-year to a record $8.55 billion in Q3 2026, accounting for 64% of overall company revenue
- ▪Advanced Micro Devices Inc.'s server CPUs experienced increased demand from agentic artificial intelligence applications like Meta's Muse because they power long-running virtual machines
- ▪Advanced Micro Devices Inc.'s Helios AI rack-scale server systems directly compete against Nvidia Corp.'s Grace Blackwell and Vera Rubin systems
- ▪Meta, Microsoft, Anthropic, OpenAI, and Oracle are beginning to use Advanced Micro Devices Inc.'s Helios full rack-scale AI systems in their data centers
AMD AI investments and acquisitions
- ▪Advanced Micro Devices Inc. acquired San Francisco-based AI lab World Labs, founded by Fei-Fei Li, for $8.2 billion in an all-stock deal announced in September 2026
- ▪Advanced Micro Devices Inc. committed up to $5 billion in investment to AI lab Anthropic, and agreed to invest $1 billion in Meta's equity offering
PC market slowdown and segment decline
- ▪Advanced Micro Devices Inc. Chief Executive Officer Lisa Su forecast during an analyst call that overall PC market unit shipments will decline by a double-digit percentage in 2027
- ▪High memory chip demand from AI servers reduced the component supply for laptops and desktops, driving up costs and causing global Q2 2026 PC shipments to drop 4%
Peer stock gains after AMD report
- ▪Neocloud and server providers including CoreWeave, Nebius Group, Dell Technologies, and Hewlett Packard Enterprise saw stock price gains following Advanced Micro Devices Inc.'s Q3 2026 earnings report
- ▪Following Advanced Micro Devices Inc.'s Q3 2026 earnings report, Intel Corp. shares rose 2%, Nvidia Corp. stock climbed over 1%, and Broadcom advanced 1.2% on November 3, 2026
Intel financial performance and outlook
- ▪Intel Corp. stock dropped 29% on October 30, 2026, after reporting weak guidance and PC market weakness, despite Q3 data center revenue increasing 78%
- ▪Intel Corp. forecast its fourth-quarter 2026 chip revenue to decline in the mid-20% range, expecting the slowdown to persist into 2027
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