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
7 questions for AMD
Joshua Buchalter
TD Cowen
7 questions for AMD
Timothy Arcuri
UBS
7 questions for AMD
Vivek Arya
Bank of America Corporation
7 questions for AMD
Ross Seymore
Deutsche Bank
6 questions for AMD
Thomas O’Malley
Barclays Capital
6 questions for AMD
Stacy Rasgon
Bernstein Research
5 questions for AMD
Joseph Moore
Morgan Stanley
4 questions for AMD
CJ Muse
Cantor Fitzgerald
3 questions for AMD
Harlan Sur
JPMorgan Chase & Co.
3 questions for AMD
Antoine Chkaiban
New Street Research
2 questions for AMD
Ben Reitzes
Melius Research LLC
2 questions for AMD
Joe Moore
Morgan Stanley
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
C J Muse
Tanner 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.
- Appaloosa Management opened a new AMD stake in Q3 2025, making it one of the fund’s top holdings.
- The fund exited positions in Intel and Oracle during the same quarter.
- New stakes were also added in Fiserv, American Airlines, Truist, and KeyCorp.
- Appaloosa boosted investments in Whirlpool, Qualcomm, Baidu, and Nvidia, while trimming UnitedHealth, Vistra, Amazon, Meta, and Uber.
- Despite another trim, Alibaba remained the largest holding at 16% of the portfolio.
- AMD expects ~$34 B in revenue for 2025, marking a 26% CAGR since 2016, with gross profit of ~$18 B and operating profit of ~$8 B.
- Over the next 3–5 years, AMD targets >60% CAGR in its Data Center business, >10% CAGR in its Core business, and >35% CAGR company-wide.
- AMD aims to achieve >50% server market share, >40% client revenue share, and >70% adaptive compute share in Data Center AI.
- The Data Center TAM is projected at ~$200 B in 2025, expanding to >$1 T by 2030.
- AMD expects >35% total revenue CAGR through 2027, led by >60% CAGR in its Data Center business and >10% CAGR in its core businesses.
- Data Center AI revenue is projected to grow at >80% CAGR, with AMD targeting >50% server CPU market share over the next 3–5 years.
- The Data Center TAM is estimated at ~$200 billion in 2025 and forecast to exceed $1 trillion by 2030, driven by AI infrastructure expansion.
- AMD has invested >$100 billion over the past five years (including >$40 billion organic and ~$60 billion acquisitions) to support compute technology leadership and AI growth.
- AMD forecast ~$34 B revenue, ~$18 B gross profit, and ~$8 B operating profit for 2025, reflecting CAGRs of 26%, 34%, and 79% since 2016.
- Projects >60% CAGR in its Data Center business and >80% CAGR in Data Center AI revenue over the next 3–5 years, with a Data Center TAM of ~$200 B in 2025 growing to >$1 T by 2030.
- Unveiled its AI computing roadmap, including Instinct MI450 Series accelerators in 2026 and the Helios rack-scale platform beginning 2H’26 to enable rack-scale AI deployments.
- Highlighted strategic partnerships with OpenAI (deploying 6 GW of Instinct accelerators) and Oracle (50,000 GPUs) to accelerate its AI factory build-out.
- AMD expects to grow from $34 billion in 2025 at a >35% CAGR over the next 3–5 years, with >60% CAGR in data center and >10% CAGR in core (client + embedded) segments.
- AI revenue is projected to expand at >80% CAGR, targeting tens of billions in data center AI revenue by 2027 and aiming for double-digit share in the data center AI market.
- The product roadmap features annual GPU cadence (MI350, upcoming MI400 series and MI500), CPU evolution to Zen 6 on 2 nm, and Helios rack-scale systems with advanced chiplet/packaging and open standards.
- AMD is pursuing >50% server revenue share, >40% client revenue share and >70% embedded adaptive revenue share within 3–5 years, supported by design wins exceeding $16 billion in 2025.
- Projected 2025 revenue of ~$34 B (CAGR 26%), gross profit of ~$18 B (CAGR 34%), and operating profit of ~$8 B (CAGR 79%)
- Data center revenue to exceed $16 B in 2025, representing ~47% of total revenue, with server CPU market share reaching ~40%
- Strategic focus on AI, including the upcoming AMD Instinct MI450 series in 2026 and partnerships delivering 6 GW of AI capacity with OpenAI and 50,000 GPUs deployed with Oracle
- Five strategic pillars: compute technology leadership, expanding data center leadership, advancing pervasive AI, open software platforms, and custom silicon solutions
- AMD targets >60% CAGR in its data center business and >35% CAGR in total revenue over the next 3–5 years, with data center AI revenue expected to grow at >80% CAGR and a data center TAM of >$1 trillion by 2030.
- The company projects 2025 revenue of ~$34 billion, gross profit of ~$18 billion, and operating profit of ~$8 billion, representing CAGRs of 26%, 34%, and 79%, respectively, from 2016 to 2025.
- AMD’s 2025 non-GAAP outlook forecasts an adjusted gross profit of $13.11 billion and margin of 54%, excluding $800 million in inventory and related charges.
- The firm aims to capture >50% server CPU market share and >40% client CPU market share through its EPYC and Ryzen platforms.
- Record Q3 revenue of $9.2 B (+36% YoY), driven by data center ($4.3 B, +22% YoY) and client & gaming ($4.0 B, +73% YoY) segments.
- EPS of $1.20 (+30% YoY) on a 54% gross margin (up 40 bps YoY) and 24% operating margin.
- Free cash flow reached $1.5 B with $1.8 B in operating cash flow; repurchased $89 M in Q3 and $1.3 B YTD, leaving $9.4 B remaining authorization.
- Q4 guidance: revenue of $9.6 B ± $0.3 B, excluding Instinct MI308 shipments to China.
- Product roadmap: next-gen 2 nm Venice EPYC CPUs and MI400 series GPUs slated for 2026 launch to support continued growth.
- AMD posted Q3’25 GAAP revenue of $9.246 B, up 36% Y/Y, with GAAP gross margin of 52% and non-GAAP gross margin of 54%.
- GAAP diluted EPS of $0.75, up 60% Y/Y, and non-GAAP EPS of $1.20, up 30% Y/Y.
- Data Center revenue of $4.341 B (+22% Y/Y) generating $1.074 B in operating income; Client & Gaming revenue of $4.048 B (+73% Y/Y) with $867 M operating income.
- Generated record free cash flow of $1.5 B and operating cash flow of $1.8 B in Q3.
- Q4 non-GAAP outlook: revenue of ~$9.6 B ± $300 M, gross margin ~54.5%, and operating expenses of ~$2.8 B.
- Delivered record Q3 revenue of $9.2 billion, up 36% YoY; gross margin 54%, operating income $2.2 billion (24% margin), and diluted EPS $1.20, up 30% YoY.
- Data center revenue reached $4.3 billion, up 22% YoY, driven by 5th Gen EPYC server CPUs and ramp of Instinct MI350 GPUs; announced a 6 GW multi-year Instinct GPU agreement with OpenAI, with first gigawatt coming online in H2 2026.
- Client and gaming revenue hit $4.0 billion (+73% YoY), including $1.3 billion in gaming (+181%), while embedded revenue declined 8% to $857 million.
- Sold ZT Systems manufacturing business to Sanmina; ZT results now treated as discontinued operations.