Advanced Micro Devices, Inc. (AMD) is a global semiconductor company specializing in the development and sale of microprocessors, graphics processing units, and other semiconductor products. AMD operates through four primary segments: Data Center, Client, Gaming, and Embedded, each contributing significantly to its overall revenue. The company also engages in the sale or licensing of its intellectual property portfolio .
- Data Center - Develops and sells server microprocessors (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs), AI accelerators, and Adaptive System-on-Chip (SoC) products.
- Gaming - Offers discrete GPUs and semi-custom SoC products tailored for gaming applications.
- Embedded - Provides embedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products, with growth driven by the acquisition of Xilinx.
- Client - Focuses on CPUs, APUs, and chipsets designed for personal computers.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Lisa T. Su ExecutiveBoard | Chair, President, and CEO | Board Member at Cisco Systems; Member of PCAST; Board Member at Semiconductor Industry Association | Lisa T. Su has been AMD's President and CEO since October 2014 and Chair of the Board since February 2022. She is recognized for her leadership in the semiconductor industry. | View Report → |
Ava M. Hahn Executive | SVP, General Counsel, and Corporate Secretary | None | Ava Hahn joined AMD in 2024 and oversees global legal affairs. She has extensive legal leadership experience in the technology sector. | View Report → |
Darren Grasby Executive | EVP, Strategic Partnerships, and President EMEA | None | Darren Grasby has been with AMD since 2007 and has held various leadership roles, contributing to AMD's global sales and marketing success. | View Report → |
Forrest Norrod Executive | EVP and GM of Data Center Solutions Business Group | None | Forrest Norrod joined AMD in 2014 and has been instrumental in building AMD's data center technology portfolio, including the EPYC CPU line. | View Report → |
Jack Huynh Executive | SVP and GM of Computing and Graphics Business Group | None | Jack Huynh has been with AMD since 1998 and has held various leadership roles, contributing to AMD's product portfolio transformation. | |
Jean Hu Executive | EVP, CFO, and Treasurer | Board Member at Fortinet, Inc. | Jean Hu joined AMD in January 2023 and leads global finance, investor relations, and corporate services. She has over 20 years of financial leadership experience. | |
Philip Guido Executive | EVP and Chief Commercial Officer | Senior Advisor at Brighton Park Capital; Member of David Rockefeller Fellows Program | Philip Guido joined AMD in 2023 and oversees AMD's commercial business. He previously held leadership roles at IBM. | |
Philip M. Carter Executive | Corporate VP and Chief Accounting Officer | None | Philip Carter joined AMD in November 2024 and oversees accounting functions. Previously, he was CAO at Skyworks Solutions. | |
Salil Raje Executive | SVP and GM of Adaptive and Embedded Computing Group | None | Salil Raje leads AMD's embedded business and has been instrumental in its adaptive computing strategy. | |
Vamsi Boppana Executive | SVP of Artificial Intelligence Group | None | Vamsi Boppana joined AMD in 2008 and leads AMD's AI strategy, including hardware and software development. | |
Abhi Y. Talwalkar Board | Director | Chair of Lam Research and iRhythm Technologies; Board Member at TE Connectivity | Abhi Talwalkar has been a director since 2017 and has extensive experience in the semiconductor and technology industries. | |
Beth W. Vanderslice Board | Director | Partner at Trewstar Corporate Board Services; Board Member at AESC Group Ltd. and Univers Holdings | Beth Vanderslice has been a director since 2022 and has over 25 years of board and general management experience. | |
Joe A. Householder Board | Director | Chair of Audit Committee at REV Renewables LLC | Joe Householder has been a director since 2014 and brings financial and operational expertise from his leadership roles at Sempra Energy. | |
John W. Marren Board | Director | Senior Managing Director at Temasek; Director at Impossible Foods; Trustee at UCSB; Board Member at US Olympic and Paralympic Foundation | John Marren has been a director since 2017 and has extensive experience in financial management and technology investments. | |
Jon A. Olson Board | Director | Board Member at Kulicke & Soffa and Rocket Lab USA | Jon Olson has been a director since 2022 and brings over 30 years of financial leadership experience in the semiconductor industry. | |
Mark Durcan Board | Director | Board Member at Cencora, ASML Holding NV, Natural Intelligence Systems, St. Luke’s Medical System, and Rice University | Mark Durcan has been a director since 2017 and brings over 32 years of semiconductor industry experience. | |
Mike P. Gregoire Board | Director | Chairman of Smartsheet Inc.; Founding Partner at Brighton Park Capital; TechNet Executive Council | Mike Gregoire has been a director since 2019 and has extensive experience in executive leadership and technology strategy. | |
Nora M. Denzel Board | Lead Independent Director | Board Member at Gen Digital Inc.; NACD Board Member | Nora Denzel has been a director since 2014 and Lead Independent Director since 2022. She has extensive experience in technology and corporate governance. |
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The Embedded segment revenue decreased 25% year-over-year to $927 million, with ongoing softness in the industrial market ; what specific strategies are you implementing to return the Embedded segment to growth, and when do you anticipate a meaningful recovery?
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While your Data Center GPU business is approaching the scale of your CPU business and delivered better-than-expected results , how are you addressing potential supply chain constraints to meet the robust demand, and what risks do you foresee in sustaining this growth into 2025 ?
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Given that you're seeing lumpiness in the Data Center GPU business due to dependency on a specific number of large customers , how does this affect your revenue predictability, and what measures are you taking to diversify your customer base to mitigate this volatility?
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With the AI accelerator TAM expected to grow at more than 60% annually to $500 billion in 2028 , how does AMD plan to capture a significant share in this rapidly expanding market, and what competitive advantages differentiate your AI solutions from those of established competitors?
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Despite strong top and bottom-line growth driven by record Instinct and EPYC product sales , the Gaming and Embedded segments experienced declines ; how do you plan to address the weaknesses in these segments to ensure balanced and sustainable growth across your entire portfolio?
Research analysts who have asked questions during ADVANCED MICRO DEVICES earnings calls.
Aaron Rakers
Wells Fargo
5 questions for AMD
Joshua Buchalter
TD Cowen
5 questions for AMD
Timothy Arcuri
UBS
5 questions for AMD
Vivek Arya
Bank of America Corporation
5 questions for AMD
Joseph Moore
Morgan Stanley
4 questions for AMD
Ross Seymore
Deutsche Bank
4 questions for AMD
Thomas O’Malley
Barclays Capital
4 questions for AMD
Harlan Sur
JPMorgan Chase & Co.
3 questions for AMD
Stacy Rasgon
Bernstein Research
3 questions for AMD
Ben Reitzes
Melius Research LLC
2 questions for AMD
CJ Muse
Cantor Fitzgerald
2 questions for AMD
Toshiya Hari
Goldman Sachs Group, Inc.
2 questions for AMD
Benjamin Reitzes
Melius Research
1 question for AMD
Blayne Curtis
Jefferies Financial Group
1 question for AMD
Christopher Muse
Cantor Fitzgerald
1 question for AMD
Harsh Kumar
Piper Sandler & Co.
1 question for AMD
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes in the Data Center segment with CPU, GPU, DPU server products, and FPGA and Adaptive SoC server products. Also competes in the Client segment with CPUs and APUs, and in the Gaming segment with integrated graphics processors and gaming-focused discrete GPUs. Additionally, it is a primary competitor in the Embedded segment for FPGA and embedded CPU products. | |
Competes in the Data Center segment with GPUs and other accelerators for AI workloads. It is also a principal competitor in the Gaming segment for discrete graphics and in the Embedded segment for discrete general-purpose GPUs targeting data center and automotive applications. | |
Competes in the Embedded segment as a primary FPGA competitor. | |
Microsemi Corporation | Competes in the Embedded segment as a primary FPGA competitor. |
Competes in the Embedded segment as an ASSP vendor. | |
Competes in the Embedded segment as an ASSP vendor. | |
Competes in the Embedded segment as an ASSP vendor. | |
Competes in the Embedded segment as an ASSP vendor. | |
Competes in the Embedded segment as an ASSP vendor. | |
Competes in the Embedded segment as an ASSP vendor. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
ZT Systems | 2025 | Planned acquisition valued at approx. $4.9 billion (comprising $3.4 billion in cash, shares, and up to $300 million in contingent consideration) aimed at accelerating AMD's AI training and inferencing capabilities on AMD Instinct platforms; the deal includes plans to divest ZT Systems’ manufacturing business once regulatory approvals are met. |
Silo AI | 2024 | Completed acquisition on August 9, 2024 in an all-cash transaction valued at $665 million (net purchase consideration of $553 million) that brings Europe’s largest private AI lab into AMD’s ecosystem to boost the development and deployment of AI models on AMD hardware. |
Pensando Systems, Inc. | 2022 | Completed on May 26, 2022, this acquisition was valued at approximately $1.9 billion (with a recorded purchase consideration of $1.7 billion) and strategically adds a leading distributed computing platform to AMD’s portfolio, strengthening its offerings for cloud, enterprise, and edge customers. |
Xilinx, Inc. | 2022 | Completed on February 14, 2022, this all-stock deal valued at $48.8 billion (including the issuance of AMD common stock and resulting in $22.794 billion in goodwill) expanded AMD’s product range into FPGAs and adaptive compute solutions, reinforcing its position in high-performance and adaptive computing markets. |
Recent press releases and 8-K filings for AMD.
- Nasdaq Composite hit all-time highs, driven by AMD’s stock surge following a major acquisition and a multi-year AI chip supply agreement with OpenAI.
- The partnership grants OpenAI an option to acquire approximately 10% stake in AMD upon meeting milestones and includes deployment of significant GPU capacity from 2026.
- Gold prices neared $4,000/oz and silver alongside Bitcoin posted strong rallies, bolstering investor confidence despite broader economic concerns.
- Market risks persist, including a potential prolonged US government shutdown and political uncertainties, while Nasdaq considers tightening listing standards amid dubious penny-stock IPOs.
- AMD and OpenAI entered a multi-year, multi-generation agreement to deploy six gigawatts of AMD Instinct GPUs, with the first gigawatt scheduled for H2 2026.
- The partnership includes a performance-based warrant for up to 160 million AMD shares, vesting upon deployment milestones and stock price targets to align incentives.
- AMD projects this deal will drive double-digit billions in annual incremental data center AI revenue upon ramp and help achieve tens of billions by 2027, with ecosystem impact exceeding $100 billion over several years.
- AMD highlighted its open ecosystem—including MI450 GPUs, Helios rack solutions, and ROCm software—and current momentum with 7 of the top 10 model builders using Instinct GPUs.
- AMD and OpenAI entered a multi-year, multi-generation agreement to deploy 6 gigawatts of AMD Instinct GPUs, with an initial 1 gigawatt deployment of MI450 Series GPUs set for 2H 2026.
- AMD issued OpenAI OpCo, LLC a warrant to purchase up to 160 million shares of AMD common stock at $0.01 per share, vesting upon milestone purchases up to 6 gigawatts and specified AMD share-price targets.
- The warrant is exercisable in whole or in part at the holder’s option through October 5, 2030, subject to technical and commercial conditions.
- AMD expects the partnership to deliver tens of billions of dollars in revenue and be highly accretive to its non-GAAP earnings per share.
- AMD and OpenAI enter a multiyear partnership to deploy up to 6 GW of AMD Instinct GPUs across multiple generations, starting with 1 GW of MI450-series in H2 2026.
- AMD issues OpenAI a warrant for 160 million shares at $0.01 per share, which could translate into a ~10% stake upon full exercise.
- The deal is expected to generate tens of billions in revenue for AMD and be highly accretive to non-GAAP EPS, while accelerating OpenAI’s AI buildout.
- This agreement extends previous collaborations on MI300X and MI350X chips and marks a direct challenge to Nvidia amid heightened data-center spending.
- AMD and OpenAI entered a multi-year, multi-generation agreement to deploy 6 gigawatts of AMD Instinct™ GPUs, beginning with a 1 gigawatt deployment of MI450 series GPUs in 2H 2026.
- AMD will issue OpenAI a warrant for up to 160 million shares of AMD common stock, vesting upon deployment milestones and share-price targets.
- The partnership is expected to deliver tens of billions of dollars in revenue for AMD and be highly accretive to AMD’s non-GAAP earnings per share.
- AMD and Absci have partnered with Oracle Cloud Infrastructure (OCI) to accelerate AI-driven drug discovery using AMD Instinct™ MI355X GPUs and OCI’s bare metal instances.
- OCI’s bare metal instances deliver 2.5 microseconds inter-GPU latency and terabytes-per-second throughput, enhancing Absci’s AI Drug Creation Platform performance.
- AMD’s stock rose 35% last quarter, supported by partnerships with Oracle and Absci, share buybacks, and a tie-up with HCLTech, despite exiting the Russell Top 50 Index.
- Absci CEO Sean McClain stated the collaboration lays the technical foundation for next-generation AI-powered drug discovery workflows.
- AMD is supplying Instinct MI355X GPUs and EPYC CPUs to power Absci’s generative AI Drug Creation Platform on Oracle Cloud Infrastructure.
- OCI bare metal instances with 5th Generation AMD EPYC processors and ultrafast RDMA networking enable low-latency inter-GPU communication down to 2.5 µs and terabytes-per-second data throughput for molecular simulations.
- The collaboration aims to consolidate Absci’s infrastructure and accelerate biologics design cycles by eliminating hypervisor overhead and boosting AI training performance.
- Ram Peddibhotla, AMD’s Corporate VP of Data Center GPU Cloud Business, highlights that combining EPYC CPUs, Instinct GPUs, and the ROCm software platform delivers the scalability needed for complex biologics design.
- AMD reported Q2 revenue of $7.7 billion, up 32% YoY, and guided Q3 revenue of $8.7 billion (+28% YoY).
- Data center GPU revenue reached $3.2 billion in Q2 (+14% YoY), with Q3 expected to rise double-digit sequentially driven by the MI350 ramp.
- AMD highlighted continued AI momentum with planned launches of MI400 next year and MI500 in 2027, while opting to guide quarterly due to market dynamics.
- The company emphasized a secured supply chain, holding prioritized wafer capacity at TSMC and tight HBM allocations to support rack-scale AI deployments.
- AMD projects its AI total addressable market to exceed $500 billion by 2028, and sees programmable GPUs capturing the majority share vs. ASICs.
- The global big data and artificial intelligence market grew from $385.89 billion in 2024 to $456.35 billion in 2025 at a 18.3% CAGR, and is projected to reach $884.42 billion by 2029 at an 18% CAGR.
- Key growth drivers include rising data generation from IoT devices, social media, digital transactions, and increasing demand for automation and ethical AI.
- Major trends over the forecast period are the expansion of edge computing, investments in advanced big data tools, strategic collaborations, and enhanced AI-driven cybersecurity solutions.
- In August 2024, AMD acquired Silo AI for $665 million to accelerate development and deployment of AI models on AMD hardware.
- Broadcom’s VMware Cloud Foundation 9.0 is now generally available, with nine of the top 10 Fortune 500 companies licensed on 100 million cores, positioning VCF as an AI-native private cloud platform.
- VMware Private AI Services—offering GPU Monitoring, Model Store, Model Runtime, and more—will be included in VCF subscriptions starting in Q1 FY26.
- VCF 9.0 supports integration with NVIDIA Blackwell GPUs/DPUs and AMD ROCm™ software with Instinct™ MI350 series GPUs, expanding hardware choice for enterprise AI workloads.
- New developer productivity features include native vSAN S3 object storage, GitOps with Argo CD, Istio service mesh, and the vSphere Kubernetes Service for streamlined, policy-driven application delivery.