Advanced Micro Devices, Inc. Q3 2026 Earnings Recap

AMD’s shares rose 1.0% after the earnings release, a relatively muted reaction to record revenue and rapid data center growth. The results were positive, but the market move does not signal a clear breakout response.

Key Takeaways

• Revenue increased 45% year over year to $13.4 billion; non-GAAP EPS rose 74% to $2.09.
• Data center revenue nearly doubled, up 97% to a record $8.5 billion, or 64% of total revenue. Server sales to both cloud and enterprise customers more than doubled.
• AMD said it significantly exceeded its prior outlook for server growth of more than 80%; it expects data center growth acceleration to continue in Q4.
• Helios production ramped as planned, with MI455X shipping in volume and initial customer racks online. AMD expects Helios deployments to increase substantially in Q4 as production scales and OEM systems begin shipping.
• Venice shipments began in Q3, with first OEM systems expected this quarter. Partners have committed more than 240 platforms, 20% more than for Turin, while cloud deployments are underway ahead of planned early-2027 instance rollouts.