Overview
- AMD reported record second‑quarter revenue of $11.54 billion and adjusted EPS of $1.66, beating Wall Street estimates and driven by a data‑center business that more than doubled to about $6.7 billion.
- Management guided third‑quarter revenue to roughly $13 billion plus or minus $300 million, a range above analyst consensus that implies continued AI‑related demand into the second half of the year.
- CEO Lisa Su said Helios rack‑scale AI servers are in full production and will begin shipping in the coming months, and AMD has announced large customer commitments from OpenAI, Anthropic, Microsoft and others.
- Investors sold the stock after hours as the market digested a sharp rise in quarterly capital spending to $808 million, a fall in sequential free cash flow, and expectations that AMD must prove faster execution to justify lofty valuations.
- The quarter underlines a structural shift for AMD from gaming toward enterprise AI revenue but also spotlights industry constraints — tight TSMC packaging capacity and scarce HBM memory — that could limit how quickly Helios and accelerator shipments scale and affect revenue timing.