AMD · Data Center · Intel · Datacenter Dynamics
Last week, Intel reported weak earnings due to supply chain challenges that limited its ability to sell chips
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AMD shares jumped eight percent on the news, reversing several days of decline amid a broader market of uncertainty for AI and data center stocks.
Key facts
- Outside of its data center business, the client business revenue grew seven percent to $2.9bn, while gaming business revenue fell by some 40 percent to $773 million
- While total revenues were up 45 percent, data center-specific revenue grew some 97 percent to $8.5bn
- AMD reported quarterly earnings of $13.4 billion, driven by strong data center sales
- The chip designer called Q3 its "largest and most profitable quarter" in history and forecast another record quarter in Q4 at $17bn
Summary
AMD reported quarterly earnings of $13.4 billion, driven by strong data center sales. The chip designer called Q3 its "largest and most profitable quarter" in history and forecast another record quarter in Q4 at $17bn. While total revenues were up 45 percent, data center-specific revenue grew some 97 percent to $8.5bn. “We delivered a record quarter with revenue exceeding the high end of our guidance as Data Center segment sales nearly doubled Year-over-Year,” said Dr. Lisa Su, AMD chair and CEO. “Demand for their Instinct and Epyc products continued to strengthen, and they expect growth to accelerate further in the fourth quarter as they scale Helios and ‘Venice’ production.