AMD
Q2 2026 revenue reached a record $11.5B (+50% YoY), with Data Center more than doubling to ~$6.7B (now ~58% of sales). Non-GAAP EPS $1.66. Q3 guidance ~$13B (+41% YoY). Helios rack-scale systems and MI450 accelerators are ramping, backed by major commitments from Microsoft, Meta, OpenAI, and Anthropic. EPYC server CPUs continue strong.
Shares pulled back post-earnings (to ~$470 area) on margin pressures from the AI ramp and timing of larger deployments, despite the beat. Analyst targets generally point to further upside.
Future potential: Solid challenger to NVIDIA with accelerating AI share gains and full-stack progress. 2027 should show stronger inflection as Helios scales. Risks include execution on ramps, competition, and higher valuation multiples. Good diversification play within AI semiconductors.
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