Market cap
$992B
at current price
Advanced Micro Devices, Inc. · Common stock · Santa Clara, California
The second source everyone wants.
AMD grew revenue 50% to $11.5B last quarter as data center sales more than doubled to 58% of the company. Its Helios racks with MI450 GPUs ship from Q3 to OpenAI, Meta, Anthropic, Microsoft and Oracle, and management expects data center revenue to more than double again in 2027.
Last close · Oct 9, 2026
$608.10
52-week range
$188–659
closing low / high
P/E
~92×
Q2 non-GAAP EPS $1.66 × 4
Revenue TTM
Q3 2026 guide
$13.0B
±$300M · +41% YoY · GM ~56%
Next earnings
Nov 3
Q3 2026 · expected, after close
Price, last 12 months
Daily closes with the 50-day average. The stock more than tripled from its 52-week low of about $188.
1Y closing high
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1Y closing low
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SMA 50
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SMA 200
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RSI 14
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Avg daily move
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last 20 sessions
Beta
2.45
vs. S&P 500
From peak
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Revenue and margins, by quarter
Revenue in US$ millions, with gross margin on the right axis. Q2 2025 includes an $800M MI308 export-control charge. The last bar is guidance at the midpoint.
RevenueGross margin (right axis)Guidance
Q2 2026
$11.5B
+50% YoY · record
Data center
$6.7B
+107% · 58% of revenue
Gross margin
~56%
non-GAAP · Q3 guided flat
Q2 EPS
$1.66
non-GAAP · GAAP $1.38
| Quarter | Ended | Revenue, US$M | YoY | Gross margin | Op. margin | EPS (GAAP) |
|---|
Watch list
What moves the thesis, sorted by direction.
Tailwind
Helios customers
OpenAI and Meta have up-to-6 GW deals each, Anthropic up to 2 GW of MI450 from the first half of 2027, and Oracle an initial 50,000-GPU cluster.
Tailwind
Server CPUs
EPYC revenue grew more than 70% with a fifth straight record server CPU quarter.
Watch
Margins not expanding
Q3 gross margin is guided flat at about 56% even as revenue jumps; AI GPUs carry lower margins than the corporate average.
Risk
Customer deals and dilution
OpenAI and Meta received warrants for 160M shares each, AMD may invest up to $5B in Anthropic, and purchase commitments rose to $30.3B.
Calendar
Nov 3, 2026
Q3 2026 earnings (expected)
Guide: about $13.0B ±$0.3B revenue, ~56% non-GAAP gross margin.
Q4 2026
Helios volume ramp
Shipments start late in Q3 and grow substantially in Q4.
H1 2027
Anthropic deployment
First gigawatt of MI450 for Anthropic begins.