AMD reported third-quarter 2026 revenue of $13.38 billion, up 45% from a year earlier, driven by strong demand for the chips used in data centers and artificial intelligence.
The key numbers
- Data center revenue: $8.5 billion, up 97% year over year.
- Data center made up 64% of total revenue, up from 47% a year earlier.
- Operating income: $2.8 billion.
- Net income (GAAP): $2.4 billion, or $1.46 per share. Adjusted earnings were $2.09 per share.
The outlook
AMD guided fourth-quarter revenue to about $17 billion, above the analyst average of $16.2 billion cited in reports. CEO Lisa Su said she expects the company's server revenue to double in 2027.
A one-off charge
Separately, AMD disclosed a $1.07 billion non-cash charge in the quarter linked to warrants granted to OpenAI and Meta as part of large chip agreements. The charge reflects a change in the warrants' value rather than a cash payment, but exercising the warrants could dilute existing shareholders.
Why it matters
The results show how central AI infrastructure has become to the chip industry. Large technology companies are spending heavily on data centers, and AMD is competing to supply the processors and accelerators inside them. Its growing share of data center revenue signals how much the company's fortunes now depend on that spending continuing.
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