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.
You might also like
| 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. |
-
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?
-
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 ?
-
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?
-
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?
-
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.
- 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.
- Revenue of $0.6 M in Q2 2025 versus $1.3 M in Q2 2024 and net loss of $30.6 M versus $24.8 M year-ago.
- R&D expenses rose to $20.5 M while SG&A expenses declined to $8.5 M in Q2 2025.
- Cash, cash equivalents, and short-term investments totaled $117.5 M as of June 30, 2025, providing runway into H1 2028 after raising $64 M in July 2025.
- Completed a $50 M underwritten public offering and $14 M via the at-the-market facility in July 2025.
- Expanded collaboration with Almirall by electing a second target and advanced AI platform scaling with AMD, including a $20 M strategic equity investment.
- Q2 revenue increased 32% YoY, and AMD guides Q3 revenue up 28% YoY, led by robust data center demand.
- Data center server CPUs are gaining share, and AMD launched the MI355 accelerator in June, targeting tens of billions in accelerator revenue from an AI TAM exceeding $500 billion; MI400 series planned for next year.
- Q3 guidance excludes China sales as US export licenses are under review; shipments will resume once approvals are granted.
- Gaming, PC, and embedded segments remain strong, with embedded expected to return to growth in H2 2025.
- AI revenue outlook: Frank Lee now models over $8 billion in AI revenue for the year, versus a consensus of around $6 billion.
- Price target hike: This improved outlook underpins a $200 price target on AMD, roughly double peer estimates.
- Chip performance & pricing: Strong early feedback on the MI355 and a significant uplift in ASPs drove the revenue revision.
- Wider pricing power: Lee sees pricing power extending beyond Nvidia to AMD and other suppliers like Broadcom amid rising AI demand.
- Non-AI resilience: AMD continues to gain share and lift ASPs in traditional PC and data-center segments outside its AI business.
- Melius Research upgraded AMD from Hold to Buy, setting a $175 price target (+36% upside).
- AMD’s stock rallied 24% in Q2, with a Wall Street consensus Outperform rating and an average target near $131.
- Drivers include AMD’s competitive edge over Intel, AI accelerator and GPU advances, and the Helios rack launch.
- Analysts expect EPS > $8 within two years and project EPS > $9 by 2028 if AMD captures >5% of the accelerator market.
- Piper Sandler, TD Cowen, and UBS also upgraded or maintained positive ratings, underscoring confidence in AMD’s AI strategy.
- MI 350 series (MI 355 & MI 350) delivers a 4× generational AI compute leap with 288 GB of HBM3E memory, support for models up to 520 B parameters on a single GPU, 161 PFLOPS of FP4 in servers, and up to 40% more tokens per dollar versus peers.
- Production shipments of the MI 355 flagship began in early June, with partner platforms and public cloud instances launching in Q3 2025.
- Training enhancements yield up to 3.5× higher pre-training throughput and 2.9× fine-tuning performance year-over-year; MLPerf results show up to 13% faster training than NVIDIA’s B200 and GB200.
- ROCm 7 software, now supporting the MI 350 series, introduces distributed inference, enterprise AI features, cluster management, and MLOps capabilities.
- Previewed MI 400 series and Helios AI Rack for 2026, featuring 72-GPU racks, 432 GB HBM4 per GPU, 40 PFLOPS FP4 performance, and TSMC 2 nm Venice EPYC CPUs with 256 cores.