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Advanced Micro Devices, Inc. (AMD) AMD Advancing AI 2026 July 23, 2026 12:30 PM EDT

Company Participants

Lisa Su - Chair, President & CEO
Vamsi Boppana - Senior Vice President of Artificial Intelligence
Daniel McNamara - Senior VP and GM of Compute & Enterprise AI
Jack Huynh - Senior Vice President and GM of Computing & Graphics Group
Matthew Ramsay - Vice President of Financial Strategy & Investor Relations
Forrest Norrod - Executive VP & GM of the Data Center Solutions Business Group

Conference Call Participants

Tom Brown
Sachin Katti
Santosh Janardhan - Meta Platforms, Inc.
Andrew Feldman - Cerebras Systems Inc.
Philippe Tillet
Jeremy Legg - AT&T Inc.
Jeetendra Patel - Cisco Systems, Inc.
Stacy Rasgon - Bernstein Institutional Services LLC, Research Division
Christopher Caso - Wolfe Research, LLC
Joshua Buchalter - TD Cowen, Research Division
Joseph Moore - Morgan Stanley, Research Division
Benjamin Reitzes - Melius Research LLC
Simon Leopold - Raymond James & Associates, Inc., Research Division
Aaron Rakers - Wells Fargo Securities, LLC, Research Division
Srinivas Pajjuri - RBC Capital Markets, Research Division
Atif Malik - Citigroup Inc., Research Division
Blayne Curtis - Jefferies LLC, Research Division
Bhavtosh Vajpayee - CLSA Limited, Research Division

Conversation

Lisa Su
Chair, President & CEO

Good morning.

Unknown Attendee

Good morning.

Lisa Su
Chair, President & CEO

That's a pretty good, good morning. I'm going to try one more good morning. And welcome to Advancing AI 2026. It's so great to be back here in San Francisco and to see so many friends and partners and customers and especially all the developers that are here with us today. And I want to say a big welcome to everyone who's joining us online from around the world.

This is my absolute favorite event of the year. It's where we bring the entire AI ecosystem together to show what we've been building and where we're going next. And this year, this is our biggest show

Advanced Micro Devices: Steady Revenue IncreasesAdvanced Micro Devices (AMD -3.54%) primarily generates its revenue by selling microprocessors and graphics processing units to original equipment manufacturers, public cloud service providers, and other enterprise clients.

It recently launched new EPYC processors alongside high-capacity deployment agreements, and it reported a 14% net income margin for the quarter ended March 28, 2026.

Alphabet: Sustained Revenue ScaleAlphabet (GOOGL +0.65%) earns most of its revenue through digital advertising services, cloud computing infrastructure, and the sale of various consumer hardware devices.

While facing development delays with a new generative model and increasing its capital expenditure guidance, it reported a 34% EBIT margin for the quarter ended June 30, 2026.

Why Revenue Matters for Retail InvestorsRevenue shows investors how much total money a company brings in before accounting for any operating expenses, taxes, or other costs, serving as a baseline measure of a business's top-line growth.

Quarterly Revenue for Advanced Micro Devices and AlphabetQuarter (Period End)Advanced Micro Devices RevenueAlphabet RevenueQ3 2024$6.8 billion (period ended Sept. 2024)$88.3 billion (period ended Sept. 2024)Q4 2024$7.7 billion (period ended Dec. 2024)$96.5 billion (period ended Dec. 2024)Q1 2025$7.4 billion (period ended March 2025)$90.2 billion (period ended March 2025)Q2 2025$7.7 billion (period ended June 2025)$96.4 billion (period ended June 2025)Q3 2025$9.2 billion (period ended Sept. 2025)$102.3 billion (period ended Sept. 2025)Q4 2025$10.3 billion (period ended Dec. 2025)$113.9 billion (period ended Dec. 2025)Q1 2026$10.3 billion (period ended March 2026)$109.9 billion (period ended March 2026)Q2 2026Not yet reported$119.8 billion (period ended June 2026)Data source: Company filings. Data as of July 24, 2026.

Foolish TakeThe revenue trends of Advanced Micro Devices (AMD) and Google parent Alphabet reveal both are experiencing consistent year-over-year sales increases. That said, AMD is seeing faster growth. For instance, in its fiscal first quarter ended March 28, AMD’s sales grew by 38% year over year to $10.3 billion. In Q1, Alphabet’s revenue rose 22% compared to 2025, although its growth rate accelerated to 24% year over year in Q2.

AMD’s faster sales growth illustrates the key role its products serve in the artificial intelligence sector, and the level of customer demand involved. In fact, the company forecasted Q2 revenue to reach $11.2 billion, which represents a further acceleration to 45% year-over-year growth.

AMD’s sales look likely to continue its revenue expansion trajectory. On July 22, the company announced a new deal with AI giant Anthropic, and a separate announcement of an expanded partnership with Microsoft on July 20.

Alphabet’s incorporation of AI into Google has resulted in exceeding one billion monthly active users. This indicates the search engine giant is not losing customers to competitors. Its sales may not be rising as fast as AMD, but its 24% growth in Q2 shows Alphabet continues to benefit from an expanding business. Its Google Cloud division saw the greatest increase as revenues jumped 82% year over year to $24.8 billion.

I keep buying Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) because agentic AI is rewiring what an AI server needs, and the market still prices AMD like it only sells GPUs. It sells the CPU that runs tool calls, the memory that holds context, and the accelerator that does reasoning. That combination keeps my finger on the buy button.

The Thesis: Agentic AI Moves the Bottleneck A standard chatbot query is a one-shot GPU pass. An agent is a loop: GPU reasoning, then a CPU tool call or database query, then a KV-cache update, then the next step. The GPU sits idle while the host CPU runs sandboxed Python, hits SQL, and pings legacy microservices. The CPU stops being a background component and becomes the active traffic controller. That is exactly the workload AMD sells into with EPYC plus Instinct plus ROCm, and it is why Lisa Su told investors on the Q1 call that “inferencing and agentic AI drive increasing demand for high-performance CPUs and accelerators.” AMD owns the x86 server CPU franchise that this stack requires, an advantage its accelerator rivals lack.

The Receipts Data Center revenue hit $5.775 billion, up 57% year over year, in Q1 FY2026, and total revenue landed at $10.253 billion, up 37.85%. Free cash flow ran $2.566 billion, a 252.96% jump. Management guided Q2 to roughly $11.2 billion, about 46% growth, with gross margin widening to around 56%. The balance sheet carries net cash, with debt/equity at 0.071, so this cash flow is not servicing leverage.

The customer roster: OpenAI selected AMD to deploy 6 gigawatts of GPUs, Meta signed for up to 6 gigawatts of Instinct GPUs, and Oracle is standing up a 50,000-GPU Helios cluster. Reddit’s r/stocks caught it too: the top post this month read, “AMD’s Anthropic and Microsoft deals reinforce that AI infrastructure spending remains strong.”

Why Not Just Buy NVIDIA? I own some NVIDIA (NASDAQ:NVDA). Jensen Huang said “Agentic AI has arrived, doing productive work, generating real value and scaling rapidly across companies and industries”, and the numbers are staggering: $81.615 billion in Q1 FY2027 revenue, up 85.2%, with 75.0% non-GAAP gross margin. NVIDIA also owns the interconnect story with NVLink and a purpose-built ARM CPU roadmap in Vera Rubin.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn't make the cut. Grab the names FREE today.

The problem is the base. NVIDIA is a $5.06 trillion company. AMD is $887.7 billion. NVDA trades at price-to-book of 25.69; AMD sits at 13.77. AMD’s PEG is 1.276, and analysts carry 5 Strong Buy, 37 Buy, and zero Sell ratings. I want the CPU-plus-GPU rack that hyperscalers are diversifying into, at a book multiple roughly half of NVIDIA’s.

The Risk Trailing P/E is 182. That is rich. U.S. export controls on the MI308 already cost AMD an ~$800 million inventory charge in Q2 2025. What keeps the thesis intact is the forward P/E of 76 against 91.2% quarterly earnings growth, and the fact that current guidance excludes China MI308 revenue entirely. The multiple compresses if execution holds.

Why I Keep Buying Polymarket currently prices AMD’s next earnings beat at a 91.5% probability. The 1-year return is 240.18%. I add because the agent loop needs a CPU and a GPU under the same roof, and AMD is the only U.S.-listed name selling both at scale.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

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Focus List Spotlight: Advanced Micro Devices (AMD - Free Report) Advanced Micro Devices has strengthened its position in the semiconductor market on the back of its strong product portfolio. Santa Clara, CA-based AMD generated revenues of $34.64 billion in 2025. The company reports operations under three segments – Data Center, Client and Gaming, and Embedded – which accounted for 48%, 42%, and 10% of revenues, respectively.

Since being added to the Focus List on May 19, 2025 at $117.17 per share, shares of AMD have increased 360.6% to $539.69. The stock is currently a #2 (Buy) on the Zacks Rank.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.07 to $7.28. AMD also boasts an average earnings surprise of 6.5%.

Additionally, AMD's earnings are expected to grow 74.6% for the current fiscal year.

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SummaryAdvanced Micro Devices, Inc. is rated a buy, with a fair value range of $550–$690, driven by secular AI compute demand and expanding CPU and GPU TAM.Confidence is highest in AMD's CPU business, given visible pricing power and a 46% x86 server revenue share, while GPU growth is more dependent on price-driven market share gains.Key risks include TSMC CoWoS capacity constraints, ARM's rising CPU market share, and potential multiple compression regardless of earnings delivery.AMD's margin profile is supported by recent results: Q1 2026 gross margin at 55%, data center operating margin at 28%, and further margin expansion guided for Q2. Robert Way/iStock Editorial via Getty Images

Advanced Micro Devices, Inc. (AMD) has been creating a narrative around itself of both an eater of the data center GPU TAM pie and a leader in the CPU inference market, with a

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of AMD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Co-engineered reference design provides a proven blueprint for deploying high-density AI clusters faster and with less risk.   Design supports 246 kW AI racks and large-scale deployments with modular AI clusters of up to 10.4 MW IT load for easy scalability Collaboration combines AMD AI platform innovation and Schneider Electric’s expertise in power, cooling, and digital infrastructure  SAN FRANCISCO, July 23, 2026 (GLOBE NEWSWIRE) -- Schneider Electric, a global energy technology leader, and AMD today announced a jointly developed and validated reference design for the AMD Helios rackscale solution that provides a scalable blueprint for deploying high-density AI environments faster and with reduced risk and complexity. The reference design marks the first milestone of the collaboration between Schneider Electric and AMD and delivers upon the companies’ joint focus to create an easier path to AI Factory deployment.

The new reference design is the first ever developed to support high-density AI workloads on the Helios rackscale solution, which is powered by AMD Instinct™ MI455X GPUs, 6th Gen AMD EPYC™ CPUs, AMD Pensando™ Vulcano NICs and the open ROCm™ software ecosystem. AMD Helios is designed to deliver breakthrough AI performance through advances in compute, interconnect bandwidth, memory capacity and system-level integration, allowing customers to run larger, more complex AI workloads faster while optimizing power and efficiency.

As AI workloads push data center infrastructure to unprecedented limits, reference designs provide data center architects and operators with tested, scalable designs proven to handle new power densities, thermal requirements and operational complexity. By modeling data center physical infrastructure performance, these pre‑validated blueprints help shorten the planning process by defining how power, cooling, and IT infrastructure should be organized to build a reliable, scalable, and AI‑ready data center. The AMD Helios reference design includes information on four technical areas: facility power, facility cooling, IT space, and lifecycle software.

“Today organizations require comprehensive, AI-ready reference designs that can take them from planning to deployment faster and with less risk," said Manish Kumar, Executive Vice President, Secure Power & Data Centers at Schneider Electric. “Through our collaboration with AMD, we're delivering an engineering-backed reference design that bridges the gap between advanced AI compute platforms, energy tech, and real-world data center implementation, enabling customers to deploy scalable, high-density AI environments with greater confidence, efficiency, and speed.”

“AI infrastructure is rapidly moving to full-scale AI factories, and that requires compute, networking, power and cooling to be designed together from the start,” said Forrest Norrod, executive vice president and general manager, Data Center Solutions Business Group, AMD. “AMD Helios provides an open, rack-scale architecture built to deliver the performance, efficiency and flexibility required for next-generation AI workloads. By working with Schneider Electric to create a validated reference design, we are giving customers a practical blueprint to accelerate high-density AI deployments, reduce integration risk and scale with greater confidence and efficiency.”

Reference Design Accelerates AMD Helios Deployment

The new collaboration brings together AMD AI platform innovation and Schneider Electric’s expertise in power, cooling, and digital infrastructure, creating a more tightly integrated approach to deploying both greenfield AI factories and high-density retrofit environments. The reference design supports:

Modular, multi-cluster environments, featuring AI clusters of up to 10.4 MW IT capacity for greenfield deploymentsHigh-density AI workloads up to 246 kW per rackAdvanced liquid cooling using Motivair by Schneider Electric CDU-based and hybrid air/liquid approaches capable of removing up to 84% of heatA digital-first infrastructure approach, which includes: Electrical and thermal design validated using ETAP and EcoStruxure™ IT Design CFD simulation tools that enable real-time monitoring and analytics, AI-driven predictive maintenance, and system-level optimization across power, cooling, and ITIntegrated Electrical Digital Twin capabilities to model, analyze, and manage infrastructure performanceSupport from AVEVA’s Unified Operations Center for real-time monitoring and operational visibility Power and cooling infrastructure deployments that adhere to AMD Helios platform requirements for reduced integration complexity and deployment riskBetter energy efficiency, with ability to achieve PUE as low as ~1.12 at full load The reference design has been validated to ANSI standards for U.S. deployments, with plans to extend the framework to support IEC standards for global implementations in the future.

Press contact: [email protected]

Related resources:

Data Center Reference Design 121: 10.4 and 6.2 MW, Tier III, ANSI, Chilled Water, Liquid-Cooled AI Clusters (AMD Instinct MI455X GPUs) About Schneider Electric

Schneider Electric is a global energy technology leader, driving efficiency and sustainability by electrifying, automating, and digitalizing industries, businesses, and homes. Its technologies enable buildings, data centers, factories, infrastructure, and grids to operate as open, interconnected ecosystems, enhancing performance, resilience, and sustainability. The portfolio includes intelligent devices, software-defined architectures, AI-powered systems, digital services, and expert advisory.

With 160,000 employees and one million partners in over 100 countries, Schneider Electric is consistently ranked among the world’s most sustainable companies.

www.se.com

Discover the newest perspectives on Advancing Energy Tech on Schneider Electric Insights.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/92c9a990-e87a-4338-92c6-09f0748e2c4a

Schneider Electric and AMD release first Helios platform reference design to accelerate AI Factory d... Schneider Electric and AMD release first Helios platform reference design to accelerate AI Factory d...

SAN JOSE, Calif.--(BUSINESS WIRE)--Arrcus, the leader in distributed networking infrastructure, and UfiSpace, a global leader in open networking solutions, announced the integration of ArcOS® network operating system with UfiSpace's high-performance open switches, powered by Broadcom® silicon. Together, with GIGABYTE's modular AI Cluster, GIGAPOD featuring the AMD EPYC & AMD Instinct platforms, this solution is showcased at AMD Advancing AI Day 2026 in San Francisco on July 22-23. The solut.

Chipmaker AMD is taking aim at competitor Nvidia with its latest hardware release: a rack-scale system designed to power computing needs of the world’s largest AI labs.

At the company’s sold-out Advancing AI conference in San Francisco on Thursday, AMD Chair and CEO Dr. Lisa Su promoted the new AI rack system known as Helios — along with its growing list of customers, including Microsoft — as the company prepares to ship it later this year. Su also pitched the company’s newest chips that are designed to feed the compute-hungry dragon that is the AI industry.

Rack systems combine many processors into a single high-powered unit. They are built for data centers, where they train and run AI models and other compute-intensive workloads.

Su called Helios the tech industry’s “highest-performance AI rack,” adding that it was “built to train and run the most demanding frontier models in the world at massive scale.” The system will be deployed by leading AI companies at gigawatt-scale, the company said.

Nvidia has historically dominated this market with its Vera Rubin and Grace Blackwell rack-scale systems. AMD is clearly looking to get in on the action. And Helios’ performance metrics appear to give it a real chance, beating out Vera Rubin by a number of metrics, The Register reported.

Helios, which was revealed in 2025 and shown onstage in January at CES 2026, already has several well-known customers, including OpenAI, Meta, Oracle, Anthropic, and Microsoft, all of which have plans to deploy the system. Microsoft CEO Satya Nadella said Monday that the company would expand its Azure infrastructure with Helios. Meanwhile, Anthropic and AMD announced a strategic partnership Wednesday to deploy up to two gigawatts of GPUs via the new rack system.

AMD also introduced Thursday its Venice-X CPU, which is designed for data centers and to handle high-computing workloads. The Venice-X is expected to launch in 2027.

During her remarks, Su commented on the trajectory of the chip industry, claiming that, by the year 2030, chips that power AI will become a massive part of the overall computing market. This is because the industry is “seeing a step change in compute demand” driven largely by the rise of agentic AI, she said.

“When you ask the agent to do something, it actually has dozens of steps, and it has to reason, and it has to call tools, and it has to access data, and it has to keep doing it over and over until it solves the problem, and so you need lots of GPUs to do all that,” the executive said.

“We’re now expecting that by 2030, the AI accelerator market is going to reach about $1.4 trillion,” Su said. “What that means is, by the end of the decade, the AI accelerator market is going to approach the size of the entire semiconductor market today.”

“We do expect that GPUs are going to make up the vast majority of that market because the algorithms are still very much in their infancy, and we’re still continuing to see the workloads change, and that favors programmability in the overall silicon ecosystem,” she added.

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Lucas is a senior writer at TechCrunch, where he covers artificial intelligence, consumer tech, and startups. He previously covered AI and cybersecurity at Gizmodo. You can contact Lucas by emailing [email protected].

TSMC’s Price Hikes Could Show Which AI Chip Stocks Have Real Pricing PowerAdvanced Micro Devices NASDAQ: AMD executives used a question-and-answer session at the company’s Advancing AI 2026 conference to expand on its AI data center roadmap, customer engagements and expectations for growth in CPUs, GPUs and full rack-scale systems.

Chair and CEO Dr. Lisa Su said AMD is “tremendously excited” about the opportunity in AI and highlighted the company’s Venice CPU launch and Helios rack-scale systems as key parts of its strategy. Matt Ramsay, who leads financial strategy and investor relations at AMD, told participants that management would not discuss near-term financial results ahead of the company’s upcoming second-quarter earnings report.

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AMD Sees Expanding CPU Opportunity From Agentic AI AMD’s $5 Billion Anthropic Deal Could Redraw the AI Chip BattleExecutives said AI workloads are increasing demand for CPUs, particularly as agentic AI requires more orchestration around end-to-end workloads. Su said AMD remains focused on capturing more than 50% of the CPU market, citing progress in recent quarters and rising customer interest in Venice.

Dan McNamara, who runs AMD’s server business, said the company’s estimate of the CPU server market was based on customer discussions and analysis of AMD’s own workloads. In the “outer years,” he said agentic AI applications could represent “probably like 50%” of the CPU server opportunity.

The 2026 Blueprint: 6 Stocks for a Brand New PortfolioSu added that CPU-to-GPU ratios could change meaningfully as AI systems evolve. While some head-node configurations today may use four GPUs per CPU, she said agentic AI could eventually push the ratio above one CPU per GPU, potentially reaching two CPUs for one GPU in some scenarios.

Helios Shipments to Begin in September Su clarified that AMD expects first shipments of Helios systems to begin in the third quarter, specifically in September. She said the ramp will continue into the fourth quarter and the first half of next year.

“We’ve actually built the ramp this way because it is a complex system,” Su said, adding that AMD wants original design manufacturers to tune the manufacturing process and align shipments with customer data center buildouts.

On customer deployments, Su said Anthropic, OpenAI and Meta moving into Helios is “a big deal for AMD.” Regarding Anthropic, she said AMD will start shipments for the first gigawatt in the first half of 2027 and aims to get as much of that first gigawatt into 2027 as possible, depending on data center readiness. AMD previously announced up to 2 gigawatts for the MI450 engagement with Anthropic.

Customer Deals Seen as Multi-Generation Relationships Asked about the Anthropic agreement, Su said each large customer engagement is structured differently, but she emphasized that customers generally do not choose an accelerator for only one generation because of the engineering effort involved.

“We are actively talking with every one of our largest customers, including Anthropic, about what’s beyond MI450,” Su said. She said there is “a lot of excitement” around MI500 and discussions about future workloads beginning with MI600.

Vamsi Kompella, who runs AMD’s AI business, said AMD is also working with Anthropic to tune and extend Claude’s capabilities for high-performance optimization on AMD platforms. He said AMD’s open approach to instruction sets, compilers and tool chains helps AI systems become productive on the platform more quickly.

Kompella also discussed ROCm.ai, calling it AMD’s biggest software leap since the early days of its strategy. He said collaborations with OpenAI on Codex and Anthropic on Claude are expected to improve developer access to AMD platforms over the coming months.

Manufacturing, Power and Deployment Are Key Focus Areas Su said AMD’s market projections consider not only demand but also power availability, supplier capacity and customer capital. She said AMD has planned capacity for “significant growth” in 2027 and 2028, while longer-term growth in 2029 and 2030 would require the broader ecosystem to build at a similar pace.

Forrest Norrod, who leads AMD’s data center business, said AMD is working closely with OEM and ODM partners, including Sanmina and Wiwynn, to ensure capacity to build, integrate, test and validate rack-scale systems. He also said AMD retained a large services arm from its ZT acquisition, which is being used for internal deployments and to help customers deploy MI350 and MI455 systems.

Su added that AMD now works with customers much earlier in the data center planning process, saying the company has “easily 12 to 18 months of visibility” into power planning and corresponding GPU and Helios system needs.

Roadmap Includes MI500 Networking and Memory Flexibility Norrod said the MI500 generation is expected to begin a transition from purely electrical scale-up networking toward optical networking, though he emphasized it will not be an immediate shift. He said AMD is working with ecosystem partners and expects optical technologies to play a larger role over future generations.

On scale-up protocols, Norrod said MI450 supports UALink transported over Ethernet and that ESUN is a set of Ethernet extensions that can help with that approach. He said AMD expects UALink over Ethernet to continue into MI500, while adding that the company will provide more detail closer to the MI500 timeframe.

Asked about HBM memory, Kompella said AMD studies workload characteristics and separates bandwidth and capacity considerations. He said AMD’s chiplet architecture gives it flexibility to optimize memory capacity while preserving bandwidth constraints. Su added that memory capacity remains valuable to customers, including for inferencing performance, but said AMD will work to ensure memory is used efficiently because it is a significant part of total cost of ownership.

Su closed the session by saying AMD views AI as “a complete compute picture,” spanning CPUs, GPUs, Helios systems and other compute elements. She said AMD believes it can differentiate through an end-to-end approach across AI infrastructure.

About Advanced Micro Devices (NASDAQ:AMD)Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company's product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

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Astera Labs: Consistent Revenue IncreasesAstera Labs (ALAB -3.07%) develops and markets semiconductor-based connectivity solutions for cloud computing and artificial intelligence infrastructure.

It expanded its operations in Taiwan in June 2026, while reporting a net income margin of 26% for the quarter ended March 31, 2026.

Advanced Micro Devices: Managing Massive ScaleAdvanced Micro Devices (AMD -3.21%) primarily generates revenue by developing microprocessors, chipsets, and graphics processing units for various hardware clients.

It committed over $10 billion to the Taiwan ecosystem in May 2026, and reported an EBIT margin of 14% for the quarter ended March 28, 2026.

Why Revenue Matters for Retail InvestorsRevenue represents the total money a business brings in before any expenses are subtracted. This metric helps investors measure a company’s overall size, market footprint, and long-term trajectory.

Quarterly Revenue for Astera Labs and Advanced Micro DevicesQuarter (Period End)Astera Labs RevenueAdvanced Micro Devices RevenueQ2 2024$76.8 million (period ended June 2024)$5.8 billion (period ended June 2024)Q3 2024$113.1 million (period ended Sept. 2024)$6.8 billion (period ended Sept. 2024)Q4 2024$141.1 million (period ended Dec. 2024)$7.7 billion (period ended Dec. 2024)Q1 2025$159.4 million (period ended March 2025)$7.4 billion (period ended March 2025)Q2 2025$191.9 million (period ended June 2025)$7.7 billion (period ended June 2025)Q3 2025$230.6 million (period ended Sept. 2025)$9.2 billion (period ended Sept. 2025)Q4 2025$270.6 million (period ended Dec. 2025)$10.3 billion (period ended Dec. 2025)Q1 2026$308.4 million (period ended March 2026)$10.3 billion (period ended March 2026)Data source: Company filings. Data as of July 17, 2026.

Foolish TakeAstera Labs and Advanced Micro Devices (AMD) are two of the biggest beneficiaries of artificial intelligence’s arrival into the mainstream. AMD’s revenue towers over Astera Labs, illustrating the massive demand for its advanced semiconductor chips used in AI systems.

That said, Astera Labs is growing faster. Its first-quarter revenue of $308.4 million represented a whopping 93% year-over-year increase. This demonstrates how its connectivity solutions are quickly becoming critical components of AI infrastructure.

Astera Labs expects sales to continue accelerating. It forecasted revenue in a range between $355 million to $365 million for Q2. The increase in data centers to expand AI capacity is contributing to the company’s incredible revenue growth.

AMD is no slouch, however. The sales of $10.3 billion in its latest quarter is an outstanding 38% year-over-year increase. It expects to reach revenue of $11.2 billion in the second quarter. On July 22, the company announced a new deal with AI giant Anthropic, and a separate announcement of an expanded partnership with Microsoft on July 20. These reveal that AMD’s sales are likely to see continued growth.

Robert Izquierdo has positions in Advanced Micro Devices, Astera Labs, and Microsoft. The Motley Fool has positions in and recommends Advanced Micro Devices and Microsoft. The Motley Fool recommends Astera Labs. The Motley Fool has a disclosure policy.

News Highlights 

AMD and Cerebras are collaborating to advance a workload-optimized approach to ultra-low-latency AI inference infrastructure.  AMD Helios™ and the Cerebras Wafer-Scale Engine will operate as a single disaggregated inference workflow, combining ultra-high-throughput from AMD Instinct™ GPUs, with ultra-fast token generation of Cerebras Wafer-Scale Engine.Cerebras plans to deploy AMD Helios in its data centers, with the joint solution expected to be available first through Cerebras Cloud in the second half of 2026. 
SAN FRANCISCO and SUNNYVALE, Calif., July 23, 2026 (GLOBE NEWSWIRE) -- AMD (NASDAQ: AMD) and Cerebras Systems (NASDAQ: CBRS) announced a technical partnership to deliver a new disaggregated AI inference solution that combines AMD Helios™ rackscale solutions with the Cerebras Wafer-Scale Engine. Unveiled at Advancing AI 2026, the solution is designed to deliver the ultra-low latency required for the most advanced AI applications while dramatically increasing the throughput and efficiency. 

The joint AMD and Cerebras solution will deploy AMD Helios alongside Cerebras Wafer-Scale Engine technology integrated in a single inference workflow for maximum performance and efficiency. AMD Helios will provide a high-performance, scalable throughput engine. Cerebras Wafer-Scale Engine technology will provide ultra-fast, ultra-low latency decode and token generation. Together, the two compute engines are expected to deliver up to 5x higher tokens per second per watt (T/s/W) i. 

AI inference workloads increasingly have different requirements across latency, throughput, token capacity, cost and scale. High-volume workloads prioritize maximizing token generation, while coding, real-time copilots, live agents and agentic workflows demand faster response times. These differences are driving demand for heterogeneous infrastructure that matches compute technologies to specific workload requirements.  

The AMD and Cerebras solution addresses this challenge through disaggregated inference, optimizing the two primary stages of the workflow independently. AMD Helios provides ultra-high throughput, processing prompts and large context windows. The Cerebras Wafer-Scale Engine accelerates the memory-bandwidth-intensive token generation, with ultra-low latency. By connecting these best-in-class engines through one integrated workflow, the companies are creating a differentiated platform for ultra-low-latency inference without sacrificing throughput or scale. 

“AI inference is becoming one of the largest infrastructure opportunities in AI, and its growing diversity requires a more flexible approach,” said Dr. Lisa Su, chair and CEO, AMD. “AMD Helios delivers leadership performance and scale for the broadest range of inference workloads. Together with Cerebras, we are extending that leadership into the most latency-sensitive applications and creating a powerful new platform for real-time agentic AI.”   

 “The demand for ultra-fast inference is growing at an unprecedented pace. Cerebras delivers the world’s fastest, ultra-low-latency inference,” said Andrew Feldman, CEO and co-founder, Cerebras. “Partnering with AMD gives us an incredible opportunity to bring that performance to even more customers.” 

Fast token generation is becoming increasingly important as AI moves into software development, autonomous agents, robotics, scientific discovery and other applications where response time directly shapes the user experience and the usefulness of the system. The joint solution brings together complementary architectures purpose-built for these demands.  

AMD Helios provides the high-throughput prompt engine, rack-scale efficiency and deployment scale required to process large numbers of complex requests. Cerebras Wafer-Scale Engine technology provides the ultra-low-latency and decode performance needed to return tokens in real time. The result is a solution designed specifically for the ultra-low-latency segment of the inference market, with AMD Helios as the foundation for high-throughput and balanced inference workloads across the data center. 

Cerebras plans to deploy AMD Helios systems in its data centers, with the joint solution expected to become available initially through Cerebras Cloud in the second half of 2026.  

Supporting Resources

Follow AMD at Advancing AI 2026 (Press Kit)Learn more about AMD Helios™ rackscale solutionLearn more about AMD Instinct™ AcceleratorsConnect with AMD on LinkedInFollow AMD on XLearn more about the Cerebras Wafer-Scale EngineConnect with Cerebras on LinkedIn | Follow Cerebras on X
About AMD
AMD (NASDAQ: AMD) drives innovation in high-performance and AI computing to solve the world’s most important challenges. Today, AMD technology powers billions of experiences across cloud and AI infrastructure, embedded systems, AI PCs and gaming. With a broad portfolio of AI-optimized CPUs, GPUs, networking and software, AMD delivers full-stack AI solutions that provide the performance and scalability needed for a new era of intelligent computing. Learn more at www.amd.com.

About Cerebras Systems

Cerebras Systems (NASDAQ: CBRS) builds the world’s fastest AI infrastructure. The Cerebras team of pioneering computer architects, computer scientists, AI researchers, and engineers of all types came together to make AI blisteringly fast through innovation and invention. We believe that when AI is fast, it will change the world. Leading global corporations, research institutes, and governments choose Cerebras to run their AI workloads. Cerebras solutions are available on premises and in the cloud. Visit cerebras.ai for more.

AMD CAUTIONARY STATEMENT

This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as the features, functionality, performance, availability, scalability, deployment, timing and expected benefits of AMD’s collaboration and joint solution with Cerebras, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD’s ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, components (such as memory supply), substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; failure to maintain an efficient supply chain as customer demand changes; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of climate change on AMD’s business; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; AMD’s ability to satisfy financial obligations under guarantees, leases and other commercial commitments; impact of acquisitions, joint ventures and/or investments on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain key employees; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.   

CEREBRAS DISCLOSURE INFORMATION

Cerebras uses its investor relations page (investors.cerebras.ai), its X account (@cerebras), and its LinkedIn page (linkedin.com/company/cerebras-systems/) to disclose material non-public information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor these channels, in addition to following Cerebras’ press releases, Securities and Exchange Commission (SEC) filings, public conference calls and public webcasts.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of applicable securities laws. All statements other than statements of historical fact could be deemed to be forward-looking, including, but not limited to, statements regarding the features, capacity, scalability, performance, timing, data center deployment and implementation, costs and expected benefits and opportunities associated with Cerebras' collaboration and joint solution with AMD, and any assumptions relating to the foregoing. The words “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “objective,” or “continue,” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Cerebras’ control. These risks and uncertainties include, but are not limited to: Cerebras’ ability to sustain and manage its growth, access borrowings and other sources of capital on acceptable terms, and deploy available capital to support growth; its history of net losses and ability to achieve and maintain profitability; its limited operating history at its current scale and ability to accurately forecast revenue and appropriately budget and manage expenses; its dependence on a limited number of significant customers, including OpenAI, Group 42 Holding Ltd, Mohamed bin Zayed University of Artificial Intelligence, and AWS, and the potential impact of any reduction in demand from, material adverse development in its relationships with, or failure to meet its obligations to, such customers, including under its Master Relationship Agreement with OpenAI; the timing, execution and expected benefits of its strategic customer, partner and financing arrangements; its historical reliance on sales of hardware systems and the early-stage, rapidly evolving market for its cloud-based offerings and AI infrastructure; its ability to secure sufficient data center capacity and capital to support its cloud-based offerings; its ability to launch new offerings and add new product capabilities; and its ability to compete effectively in the rapidly evolving and competitive market for AI computing solutions.

Cerebras’ actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. Accordingly, undue reliance should not be placed on such statements. These forward-looking statements are made as of the date they were first issued and are based on information available to Cerebras together with Cerebras’ expectations, estimates, forecasts, projections, beliefs, and assumptions as of such date. These forward-looking statements should not be relied upon as representing Cerebras’ views as of any date subsequent to the date of this press release. Past performance is not necessarily indicative of future results. Cerebras undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

Further information on potential risks that could affect actual results is included in Cerebras’ most recent filings with the Securities and Exchange Commission (the “SEC”), including in Cerebras’ most recent Quarterly Report on Form 10-Q, copies of which may be obtained by visiting Cerebras’ Investor Relations website at investors.cerebras.ai or the SEC’s website at www.sec.gov.

Contacts:
Aaron Grabein
AMD Communications
737-256-9518
[email protected]

Liz Stine
AMD Investor Relations
720-652-3965
[email protected]

Kriselle Laran
Cerebras
[email protected]

Sean Dorsey
Cerebras Investor Relations
[email protected]

_______________
i Based on modelling by AMD Performance Labs and Cerebras in July 2026 to determine tokens per second per kilowatt (TPS/kW) at a comparable interactivity point with Kimi 2.6 1T Model comparing an AMD Helios rackscale solution with Cerebras WSE to a Cerebras WSE-only configuration. System manufacturers may vary configurations, yielding different results. MI400-021

LAS VEGAS--(BUSINESS WIRE)--TensorWave, the all-AMD AI cloud specializing in high-performance, memory-intensive workloads, today announced it has adopted the AMD Helios rackscale solution, powered by AMD Instinct™ MI455X GPUs, to advance its infrastructure for frontier-scale inference and training workloads. The 72-GPU AMD Helios rackscale solution integrates AMD Instinct GPUs, 6th Gen AMD EPYC™ CPUs, AMD Pensando™ networking, and AMD ROCm™ software into a unified, open rack-scale platform buil.

SAN FRANCISCO--(BUSINESS WIRE)-- #AI--Infobell IT Solutions, a leader in enterprise technology services, is thrilled to announce a collaboration with AMD.

News Highlights

At Advancing AI 2026, AMD launches 6th Gen AMD EPYC™ CPUs, AMD Instinct™ MI400 Series GPUs, AMD Helios™ AI rackscale solutions, AMD Ryzen™ AI Embedded X100 processors and the AMD Kria™ AI SOM and Robotics Developer Platform.AMD Helios delivers up to 30% more inference tokens per dollar than the competition, maximizing output from every rack deployed.AI is accelerating demand for the full range of AMD silicon spanning data center, PCs, edge and embedded processors, driving AMD’s TAM to ~$2 trillion in 2030.Anthropic, OpenAI, Meta, Cerebras, AT&T and Cisco detailed how they are collaborating with AMD to advance AI infrastructure, enterprise capabilities and edge AI. SAN FRANCISCO, July 23, 2026 (GLOBE NEWSWIRE) -- AMD (NASDAQ: AMD) today launched its next-generation AI infrastructure and physical AI portfolio at Advancing AI 2026, led by AMD Helios rackscale solutions, now in production to be deployed by leading AI companies at gigawatt scale.

As AI expands from training to inference and agentic workloads, compute demand is accelerating rapidly. AMD delivers an open, full-stack AI platform that gives customers the flexibility to deploy the right compute for every workload.

“The next phase of AI will span frontier models, agents and physical AI, creating new opportunities to bring intelligence everywhere,” said Dr. Lisa Su, chair and CEO, AMD. “Realizing that potential will take the entire industry working together. AMD is partnering across the ecosystem to deliver leadership compute and open platforms that give customers the performance, flexibility and choice to scale AI from the data center to the edge.”

AMD Helios: The Highest Performance Rack-Scale AI Solution
Delivering frontier AI requires a fully integrated rack architecture, with every part of the stack pushing the boundaries of performance. AMD Helios rackscale solutions are built for this, with co-optimized silicon spanning 72 high-performance AMD Instinct™ MI455X GPUs and 18 powerful 6th Gen AMD EPYC™ “Venice” CPUs, connected by AMD Pensando™ front-end, scale-up and scale-out networking, and accelerated by AMD ROCm™ open software. AMD Helios combines leadership compute performance, memory capacity and networking bandwidth to deliver up to 30% more tokens per dollar than the leading competitive solution1.

Leading AI labs and cloud providers are choosing AMD Helios for its open, full-stack performance. They include OpenAI, Anthropic, Meta, Microsoft, Oracle, HUMAIN, Tensorwave, Vultr, Cirrascale and others. Systems will be available from leading OEMs, including Bull, HPE, Lenovo and Supermicro, as well as infrastructure partners Sanmina and Wiwynn.

At Advancing AI, AMD partners detailed how they deploy AMD AI infrastructure at scale for frontier training and inference:

Anthropic and AMD further outlined Wednesday’s strategic partnership announcement to deploy up to 2 gigawatts of AMD Instinct MI455X GPUs in AMD Helios rackscale solutions. The companies are launching a multiyear engineering collaboration to use Claude to accelerate AMD software development. Specifically, the teams will use Claude to optimize workloads for AMD Instinct GPUs and accelerate ROCm software development. AMD will also broadly adopt Claude across its engineering and product development teams.OpenAI and AMD are partnering to optimize the full AI stack, from silicon to software. Leveraging OpenAI’s Triton framework with AMD ROCm software, the companies are optimizing GPT-class workloads on AMD Instinct MI455X GPUs and AMD Helios racks. OpenAI expects to bring Helios online beginning in the fourth quarter of 2026, with deployments accelerating throughout 2027.Meta and AMD are co-designing for gigawatt-scale deployments, optimizing AMD’s full AI compute stack for Meta workloads. Meta is now validating 6th Gen EPYC CPU platforms in its labs and has begun testing and validating workloads on AMD Helios racks as they prepare to deploy at scale.Cerebras and AMD are collaborating to deliver a combined solution of Cerebras ultra-low-latency AI compute and AMD Helios high-throughput rack-scale infrastructure to help improve inference efficiency, scalability and economics for ultra-low-latency inference serving. Delivering the Highest Performance Data Center CPUs and GPUs
6th Gen EPYC processors deliver the broadest server CPU portfolio for agentic AI,2 spanning cloud, enterprise, general-purpose and high-performance computing (HPC) workloads. With leadership per-core performance and the highest thread density3, they enable the most agents per watt, per dollar and per rack.4,5,6 For AI host nodes, 6th Gen EPYC CPUs deliver the speed and memory bandwidth to keep accelerators fully fed. And for general-purpose servers, they bring leadership performance and energy efficiency to run business critical applications and AI support tasks.

With AMD Instinct™ MI400 Series GPUs, AMD delivers powerful performance for cloud, enterprise and HPC workloads. AMD Instinct MI455X GPUs deliver 34x higher token throughput compared to MI355X GPUs7. For high-precision workloads, the AMD Instinct™ MI430X accelerator is the most advanced for HPC and sovereign AI with up to 288 TFLOPS of hardware-based FP64 performance for scientific computing. Instinct MI430X accelerators are powering the next wave of exascale-class supercomputers across the U.S. and Europe.

AMD also launched the Instinct MI350P GPU, bringing seamless AI acceleration to existing infrastructure with leadership token economics. MI350P GPUs deliver up to 4.2x more tokens per second per dollar than the competition8.

Advancing the Open Software Ecosystem
For developers, AMD ROCm is the open software platform with the performance, flexibility and ecosystem support needed to build and deploy AI on AMD hardware. Building on that foundation, AMD is introducing ROCm.ai, an AI-driven development platform that helps developers build, optimize and deploy GPU software faster across AMD platforms. ROCm.ai brings AI-assisted GPU programming to developers by enabling popular coding agents such as Claude, Codex and Cursor to understand AMD platforms and ROCm natively.

ROCm.ai is accelerating software enablement for AMD Instinct MI455X GPUs while optimizing performance. Leading open-source frameworks including PyTorch, Hugging Face, vLLM and SGLang are already enabled on MI455X and seeing great results.

Accelerating Next-Generation AI Infrastructure
AMD is extending its annual cadence of CPU, GPU, networking and rack-scale innovation through 2030. The company shared new details on its roadmaps, including:

Next-generation EPYC server CPUs based on the “Zen 7” architecture are coming in 2028. The “Florence,” “Ferrara” and “Fidenza” CPUs are expected to extend AMD’s leadership in density, performance, performance-per-system dollar and performance-per-watt.“Ravenna” CPUs based on the “Zen 8” architecture are coming in 2030, designed to continue AMD server CPU leadership.Next-generation AMD Instinct MI500 Series GPUs are coming in 2027, with next-generation compute, memory and interconnect technologies for leadership performance.AMD Instinct MI600 Series GPUs are coming in 2028.The next-generation AMD Helios 500 rackscale solution will be powered by AMD Instinct MI500 Series GPUs and AMD EPYC “Verano” CPUs, with next-gen Pensando “Como” and “Monza” networking. The AMD Helios 600 rackscale solution will follow, powered by AMD Instinct MI600 Series GPUs, EPYC “Ferrara” CPUs and Pensando “Palma” and “Levanzo” networking. Scaling AI Across Enterprise
Leading enterprises run on AMD infrastructure, from cloud, hybrid and on-prem data centers to AI-enabled PC fleets. AMD technologies are helping customers scale quickly and accelerate enterprise transformation.

At Advancing AI, AT&T illustrated how it is deploying flexible enterprise AI using AMD technology across cloud, on-premises and air-gapped environments. AT&T is also using AMD Instinct GPUs and ROCm software to power its OTel 2.0 model, an open-source model trained specifically for telecoms.

With the AMD Ryzen™ AI Halo developer platform, AMD delivers performance, efficiency and simplicity that makes local AI development accessible. More AMD Ryzen AI Halo platforms, powered by Ryzen™ AI Max PRO 400 Series processors, will be available later this year from AMD and OEM partners.

Cisco and AMD are collaborating to combine AMD high-performance inference engines, including AMD Ryzen AI Halo systems, with Cisco networking, observability and security capabilities, so enterprises can deploy, govern and manage hybrid and local agentic AI at scale.  

Advancing the Next Frontier of Physical AI
As AI expands across cloud, enterprise and local systems, the next frontier is bringing intelligence into machines that perceive, reason and act in the physical world. Building on a long legacy in robotics with AMD FPGAs and adaptive SoCs, AMD introduced AMD Kria™ AI solutions, extending the company’s robotics capabilities from the robot body to the robot brain. AMD uniquely brings AI perception, reasoning and agentic decision-making and control together on a single platform to deliver the performance required for demanding real-world robotic systems.

The portfolio includes new AMD Kria AI system-on-modules (SOMs), powered by the new AMD Ryzen AI Embedded X100 Series processors, and the AMD Kria AI Robotics Developer Platform, the first open, turnkey integrated platform for autonomous robotics combining CPU, GPU, NPU and FPGA compute. Together with an expanded open software ecosystem, AMD Kria AI solutions remove vendor lock-in and help developers and customers accelerate the path from prototype to production for next-generation physical AI systems.

Supporting Resources

Follow AMD at Advancing AI 2026 (Press Kit)Watch the AAI keynote replay About AMD
AMD (NASDAQ: AMD) drives innovation in high-performance and AI computing to solve the world’s most important challenges. Today, AMD technology powers billions of experiences across cloud and AI infrastructure, embedded systems, AI PCs and gaming. With a broad portfolio of AI-optimized CPUs, GPUs, networking and software, AMD delivers full-stack AI solutions that provide the performance and scalability needed for a new era of intelligent computing. Learn more at www.amd.com.

CAUTIONARY STATEMENT

This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as AI accelerating demand for the full range of AMD silicon, driving AMD’s total addressable market to ~$2 trillion in 2030; compute demand accelerating; the next phase of AI; the features, functionality, performance, availability, timing and expected benefits of AMD products, including, but not limited to, 6th Gen AMD EPYC™ CPUs, AMD Instinct™ MI400 Series GPUs, AMD Helios™ AI rackscale solutions, AMD Ryzen™ AI Embedded X100 processors and the AMD Kria™ AI SOM and Robotics Developer Platform; expected plans, benefits, scalability and deployments with AMD partners including Anthropic, OpenAI, Meta and Cerebras; AMD’s AI infrastructure product roadmaps through 2030; and AMD’s collaboration with AT&T and Cisco, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD’s ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, components (such as memory supply), substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; failure to maintain an efficient supply chain as customer demand changes; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of climate change on AMD’s business; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; AMD’s ability to satisfy financial obligations under guarantees, leases and other commercial commitments; impact of acquisitions, joint ventures and/or investments on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain key employees; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.

_________________________

1Based on AMD Performance Labs estimates as of July 2026, tokens-per-dollar performance was calculated using the Kimi K2 Thinking workload (32K input / 8K output) on an AMD Helios rackscale solution compared to an NVIDIA Vera Rubin NVL72 rack. Results reflect estimated aggregate throughput across low, medium, and high-interactivity operating points and hourly pricing projection of system GPUs based on market conditions. System configurations may vary by manufacturer and may produce different results. MI400-025
2 EPYC-068 - The AMD EPYC server CPU portfolio spans the industry’s broadest ranges of data center deployments, from general-purpose enterprise, cloud, telecom, SMB, and HPC systems to emerging AI environments including sandboxed agentic AI deployments and GPU head node servers. AMD EPYC 6th Generation platforms extend this breadth by uniquely combining high core and thread density of up to 512 threads, advanced memory bandwidth of up to 16 channels of 12.8 GT/s MRDIMM support, next-generation PCIe® Gen 6 connectivity, and select SKUs with boost frequencies up to 5 GHz.

3 EPYC-025D: As of July 2026, 6th Gen EPYC 9996 has 256 cores and 512 threads with SMT enabled which is higher than any other publicly disclosed 1P CPU
4 9xx6-012: Based on estimated performance data for Nvidia, Intel®, and AMD EPYC™ Server Processors for Agentic AI, the AMD EPYC9996 provides the most agents per rack at a 100Kw power envelope per rack. 
 Compared to the cores per rack of Nvidia Vera (88c) powered server racks: 
 - The AMD EPYC 9996 (256C) provides 2.08x the cores (and threads with SMT) per rack 
- The AMD EPYC 9965 (192C) provides 1.86x the cores (and threads with SMT) per rack 
- The Intel Xeon 6980P (128C) provides 1.24x the cores (and threads with SMT) per rack 
Source: https://www.amd.com/content/dam/amd/en/documents/solutions/ai/methodology-description.pdf  
Agent counts are estimates derived from available CPU thread resources used as a proxy under a consistent theoretical workload. Actual agent capacity and throughput will vary based on workload, model, memory, software, orchestration, and system configuration.

5 9xx6-013: Comparison based on published Top-of-stack core counts and 1Ku pricing for estimated highest Agents / CPU $ and threads / CPU $ AMD EPYC™ 9006 (512 threads), AMD EPYC™ 9005 (384 threads), and Intel® Xeon® 6 (256 threads) SKUs as of 7/22/2026. Threads derived as 2 threads per core (SMT). Intel and Xeon are trademarks of Intel Corporation or its subsidiaries. Source: https://www.amd.com/content/dam/amd/en/documents/solutions/ai/methodology-description.pdf Agent counts are estimates derived from available CPU thread resources used as a proxy under a consistent theoretical workload. Actual agent capacity and throughput will vary based on workload, model, memory, software, orchestration, and system configuration.

6 9xx6-014: Comparison based on published Top-of-stack core counts and CPU W, Default CPU Power for 6th Gen EPYC, and TDPs for 5th Gen EPYC, Intel® Xeon®, and Nvidia Vera for estimated Highest Agents / CPU W across AMD EPYC™ 9956 (400W Default CPU Power), AMD EPYC™ 9965 (500W TDP), Nvidia Vera (450W TDP), ARM AGI (300W TDP), and Intel® Xeon® 6980P (500W TDP) powered servers as of 7/22/2026. 2 threads per core (SMT). 1 thread per core for ARM AGI.
Starting with the 6th Gen AMD EPYC™ server processor family, AMD uses Default CPU Power to describe processor power consumption, succeeding AMD's historical TDP reference. Default CPU Power reflects total power consumed across the processor's compute and I/O dies for the stated performance target. Default CPU Power and TDP may both serve as processor power references for product comparison, platform planning, and performance-per-watt analysis. Agent counts are estimates derived from available CPU thread resources used as a proxy under a consistent theoretical workload. Actual agent capacity and throughput will vary based on workload, model, memory, software, orchestration, and system configuration. Intel Xeon TDP from ark.intel.com. Nvidia Vera TDP from https://developer.nvidia.com/blog/nvidia-vera-cpu-sets-a-new-standard-for-agentic-workloads-in-ai-factories/. ARM AGI Specifications from https://www.arm.com/products/cloud-datacenter/arm-agi-cpu#Specifications

7 MI400-020: Based on measurements and calculations by AMD Performance Labs in July 2026, for the AMD Instinct™ MI455X GPU to determine measured token throughput at high, medium and low interactivity points run on Deepseek V4 Flash with FP4 serving compared to AMD Instinct™ MI355X GPU. System manufacturers may vary configurations, yielding different results.

8 MI350P-007: Based on AMD internal testing (July 2026), on a (1x) AMD Instinct MI350P GPU vs (1x) NVIDIA H200 NVL GPU on the Llama 3.3 70B Instruct (FP8) online serving output-throughput per dollar (tok/s/USD) comparison at ISL/OSL 1024/1024 across concurrency levels 1, 4, 8, 16, 32, 64, 128, 256, 512; median of 3 runs per point. MI350P based server internal AMD estimated pricing as $327,238.40 USD. RTX_PRO_6000 based server public list price reported on OEM website as $265,928.24 USD as of 7/16/2026. Stated results are the peak per-concurrency ratios: MI350P served via AIMS silogenai/aim-instinct-meta-llama-llama-3-3-70b-instruct:0.12.0-rc6; H200 NVL via NVIDIA NIM nvcr.io/nim/meta/llama-3.3-70b-instruct:2.0.6; RTX PRO 6000 via NVIDIA NIM nvcr.io/nim/meta/llama-3.3-70b-instruct:2.0.6. Configuration: 8x AMD Instinct MI350P PCIe Card (CDNA4, gfx950, 128 CUs, 144 GB HBM3E, SPX compute / NPS1), vBIOS 113-350P-01-1K1-000A, GPU driver 6.19.13-2353916.24.04, ROCm 7.14.0 (AMD-SMI 26.5.0); host 2P AMD EPYC 9455 (48-core), Dell PowerEdge XE7745, BIOS 1.7.6, microcode 0xb002162, SMT Enabled, Ubuntu 24.04.4 LTS, Linux 6.8.0-124-generic || NVIDIA RTX PRO 6000: 8x NVIDIA RTX PRO 6000 Blackwell Server Edition, vBIOS 98.02.8D.00.01, GPU driver 595.45.04, CUDA 13.2; host 2P AMD EPYC 9455 (48-core), Dell PowerEdge XE7745, BIOS 1.6.4, microcode 0xb00215a, SMT Enabled, Ubuntu 24.04.4 LTS, Linux 6.8.0-124-generic. Sever manufacturers may vary configurations, yielding different results. Results may vary due to factors including system configurations, software versions and BIOS settings.

Contact: 
Brandi Martina 
 AMD Communications 
(512) 705-1720 
[email protected] 

Liz Stine
AMD Investor Relations
(720) 652-3965
[email protected]

33% more cores, 2X PCIe Bandwidth and 2.6X higher memory bandwidth supercharge high-performance workloads Powered by 6 th Gen AMD EPYC CPUs and AMD Instinct™ GPUs, comprehensive rack-scale systems, built on DCBBS architecture, are optimized for Cloud, Enterprise, Storage, HPC and AI workloads Industry's broadest portfolio also includes the 72-GPU AMD Helios Platform, designed for large-scale AI training and high-throughput inference , /PRNewswire/ -- Super Micro Computer, Inc. (NASDAQ: SMCI), an AI, Enterprise, Storage, and 5G/Edge Total IT Solution Provider featuring Data Center Building Block Solutions® (DCBBS), today announced its next-generation H15 server portfolio powered by 6th Gen AMD EPYC™ 9006 Series CPUs, optimized for next generation GPUs including AMD Instinct™, and connected by AMD Pensando™ networking. With up to 256 cores and 512 threads, H15 systems meet the growing compute demands of cloud, enterprise, storage, high-performance computing (HPC), and agentic AI workloads. With breakthrough 1.7x generational CPU performance improvement1, expanded memory and I/O bandwidth, and industry-leading compute density, customers are now able to run more concurrent AI agents, accelerate enterprise applications, and maximize host-node performance while operating within existing power envelopes.

All-New Supermicro Servers with AMD EPYC 9006 Series CPUs "The latest AMD powered additions to our DCBBS family deliver the next generation of AI infrastructure, optimized for high performance, rapid scalability, and peak efficiency," said Vik Malyala, Chief Business Officer at Supermicro. "Backed by our global services team, resilient U.S. supply chain, and consistent investment in US AI innovation, we continue to help customers deploy and scale AI with confidence."

Learn more about Supermicro's portfolio of AMD servers here, and in this video summary. 

"As enterprises scale agentic AI, they need infrastructure that delivers exceptional performance, efficiency, and flexibility," said Dan McNamara, senior vice president and general manager, Compute and Enterprise AI, AMD. "By combining the latest AMD EPYC CPUs, Instinct GPUs, and AMD Pensando networking with Supermicro's modular server and rack-scale designs, customers can deploy AI infrastructure faster while improving utilization, reducing energy consumption, and lowering total cost of ownership."  

H15 Portfolio Delivers Optimized Infrastructure for Every Workload

The new H15 portfolio includes purpose-built systems optimized for a broad range of enterprise and AI infrastructure deployments:

Hyper – The flagship dual-socket platform engineered for enterprise applications, AI inference, virtualization, and cloud workloads, with advanced thermal design to support the highest-performance AMD EPYC processors. 

CloudDC – A single-socket or dual socket server designed for cloud-scale environments and built on the Open Compute Project (OCP) Data Center Modular Hardware System (DC-MHS) specification for compatibility with open data center standards.

GrandTwin® – A high-density 2U, four-node architecture designed for scale-out environments including object storage, virtualization, cloud services, and high-performance computing.

FlexTwin™ – A 1OU, two-node, high-performance, high-density dual CPU compute system that maximizes compute density and power efficiency for cloud-native and hyperscale deployments using liquid cooling.

Petascale Storage – 1U and 2U high-capacity all-flash storage platforms optimized for software-defined storage-based AI data lakes, large-scale analytics, and HPC environments supporting up to 4.8 PB per system.

SuperBlade® - H15 8U 10 SuperBlade represents next-generation, rack-scale breakthrough architecture for HPC, AI inference, agentic AI, and enterprise-class compute workloads with CPU and GPU. The platform supports both single-socket and dual-socket blade configurations - with both air and liquid-cooled versions optimized for maximum density, high performance, and efficiency, across a wide range of infrastructure deployments.

Expanding AMD GPU-Powered AI Infrastructure

Complementing the H15 server portfolio, Supermicro continues to expand its AMD GPU-powered AI infrastructure with new PCIe GPU servers and the rack-scale Supermicro AMD Helios Platform. As shown at Computex 2026, these solutions provide organizations with flexible deployment options ranging from enterprise AI inference to large-scale AI training.

5U PCIe GPU Servers Powered by AMD Instinct™ MI350P GPUs

The Supermicro AS -5126GS-TNRT and AS -5126GS-TNRT2 are designed to maximize the performance of AMD Instinct MI350P PCIe GPUs. Supporting up to ten GPUs in a standard 5U air-cooled platform, these systems deliver exceptional AI acceleration while operating within existing data center power and cooling infrastructures.

By combining Supermicro's high-density PCIe architecture with AMD Instinct MI350P GPUs featuring up to 144GB of HBM3e memory and support for low-precision AI formats, organizations can accelerate AI inference and training while improving infrastructure efficiency, reducing data center footprint, and lowering total cost of ownership.

Open Ethernet Networking with AMD Pensando™ Pollara 400 AI NIC

The AMD Pensando Pollara 400 AI NIC provides high-performance, open Ethernet networking for AI infrastructure, enabling front-end, storage, and scale-out connectivity for AMD Instinct MI350P-based systems with the high bandwidth, low latency, and efficiency required for AI training and inference. Together, AMD Instinct MI350P GPUs and the AMD Pensando Pollara 400 AI NIC enable customers to build open, high-performance AI clusters that scale from a single server to large multi-rack deployments using standard Ethernet infrastructure.

Supermicro AMD Helios Platform 

For organizations deploying frontier AI models, Supermicro is collaborating with AMD to deliver the Supermicro AMD Helios Platform, a 72-GPU rack-scale solution designed for large-scale AI training and high-throughput inference.

The liquid-cooled platform combines AMD Instinct MI455X GPUs, 6th Gen AMD EPYC processors, AMD Pensando networking technologies, and the AMD ROCm™ software stack to create an open, high-performance AI infrastructure. Supporting deployments of every size, the platform enables customers to scale efficiently while maximizing performance, energy efficiency, and operational flexibility.

Supermicro's DCBBS brings these technologies together as complete, validated AI infrastructure, enabling organizations to deploy solutions ranging from individual servers to fully integrated rack-scale and data center-level systems. With industry-leading design, manufacturing, liquid cooling, networking, software, and global support services, Supermicro continues to help customers accelerate AI adoption while reducing deployment time, improving energy efficiency, and lowering total cost of ownership.

For a detailed product demonstration led by Supermicro experts, be sure to stop by the Supermicro booth at AMD Advancing AI Day 2026, July 22–23, 2026, at Moscone West in San Francisco. Supermicro will also be displaying the densest EPYC 9006 rack implementation with 96 EPYC 9006 CPUs in a 42U rack using the FlexTwin system which will be shown in the AMD display area.

11.7X performance improvement based on SPECInt Rate 2017 results published by AMD.

About Super Micro Computer, Inc. 

Supermicro (NASDAQ: SMCI) is a global leader in Application-Optimized Total IT Solutions. Founded and operating in San Jose, California, Supermicro is committed to delivering first-to-market innovation for Enterprise, Cloud, AI, and 5G Telco/Edge IT Infrastructure. We are a Total IT Solutions provider with server, AI, storage, IoT, switch systems, software, and support services. Supermicro's motherboard, power, and chassis design expertise further enables our development and production, enabling next-generation innovation from cloud to edge for our global customers. Our products are designed and manufactured in-house (in the US, Taiwan, and the Netherlands), leveraging global operations for scale and efficiency and optimized to improve TCO and reduce environmental impact (Green Computing). The award-winning portfolio of Server Building Block Solutions® allows customers to optimize for their exact workload and application by selecting from a broad family of systems built from our flexible and reusable building blocks that support a comprehensive set of form factors, processors, memory, GPUs, storage, networking, power, and cooling solutions (air-conditioned, free air cooling or liquid cooling).

Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.

All other brands, names, and trademarks are the property of their respective owners.

AMD, the AMD Arrow logo, EPYC, AMD Instinct, Pensando, ROCm and the combination thereof are trademarks of Advanced Micro Devices, Inc.

SOURCE Super Micro Computer, Inc.

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?

Let's take a look at what these Wall Street heavyweights have to say about Advanced Micro Devices (AMD - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Advanced Micro currently has an average brokerage recommendation (ABR) of 1.43, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 46 brokerage firms. An ABR of 1.43 approximates between Strong Buy and Buy.

Of the 46 recommendations that derive the current ABR, 35 are Strong Buy and two are Buy. Strong Buy and Buy respectively account for 76.1% and 4.4% of all recommendations.

Brokerage Recommendation Trends for AMD

Check price target & stock forecast for Advanced Micro here>>>

While the ABR calls for buying Advanced Micro, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Are you wondering why? The vested interest of brokerage firms in a stock they cover often results in a strong positive bias of their analysts in rating it. Our research shows that for every "Strong Sell" recommendation, brokerage firms assign five "Strong Buy" recommendations.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABRIn spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.

On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

In addition, the different Zacks Rank grades are applied proportionately to all stocks for which brokerage analysts provide current-year earnings estimates. In other words, this tool always maintains a balance among its five ranks.

There is also a key difference between the ABR and Zacks Rank when it comes to freshness. When you look at the ABR, it may not be up-to-date. Nonetheless, since brokerage analysts constantly revise their earnings estimates to reflect changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in predicting future stock prices.

Is AMD a Good Investment?In terms of earnings estimate revisions for Advanced Micro, the Zacks Consensus Estimate for the current year has increased 0.8% over the past month to $7.28.

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Advanced Micro. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, the Buy-equivalent ABR for Advanced Micro may serve as a useful guide for investors.

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.

It also includes access to the Zacks Style Scores.

What are the Zacks Style Scores? The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days.

Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.

The Style Scores are broken down into four categories:

Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.

Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.

Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.

How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.

It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.

That's where the Style Scores come in.

You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.

The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.

For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.

Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.

Stock to Watch: Advanced Micro Devices (AMD - Free Report) Advanced Micro Devices has strengthened its position in the semiconductor market on the back of its strong product portfolio. Santa Clara, CA-based AMD generated revenues of $34.64 billion in 2025. The company reports operations under three segments – Data Center, Client and Gaming, and Embedded – which accounted for 48%, 42%, and 10% of revenues, respectively.

AMD is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Computer and Technology stock. AMD has a Momentum Style Score of B, and shares are up 6.3% over the past four weeks.

Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.07 to $7.28 per share. AMD boasts an average earnings surprise of +6.5%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, AMD should be on investors' short list.

Stock futures are lower as worries about AI spending pressure big tech shares; Tesla shares are falling after the electric vehicle maker said rising R&D costs squeezed profits; Alphabet shares are taking a hit too after the company lifted its capital expenditures forecast; strong AI spending trends could favor chipmaker Intel, due to release results after the closing bell today; and Advanced Micro Devices is set to showcase its latest tech at its “Advancing AI” keynote. Here's what you need to know today.

Bank of America’s semiconductor desk has been busy this week, and Advanced Micro Devices (NASDAQ:AMD | AMD Price Prediction) investors have every reason to pay attention. Analyst Vivek Arya added Micron Technology (NASDAQ:MU) to the firm’s “U.S. 1 List” with a $1,550 price target, a call that reads as a broader endorsement of the AI-memory-and-compute stack that AMD anchors.

Combined with Microsoft’s decision to deploy AMD’s Helios Rackscale Solution in Azure by late 2026, the setup for AMD heading into its August 4 earnings report is unusually loaded.

Our 24/7 Wall St. price target for AMD is $577.42, implying 6.06% upside from the current $544.43. Our recommendation is buy, with high confidence at 90%.

24/7 Wall St. Price Target Summary Metric Value Current Price $544.43 24/7 Wall St. Price Target $577.42 Upside 6.06% Recommendation BUY Confidence Level 90% A 154% YTD Run Meets an August Earnings Test AMD is up 154.22% year to date and 246.77% over the past year, closing yesterday roughly 7% below its 52-week high of $584.73 after an 8.11% single-session pop on July 21. That move followed a Wall Street Zen upgrade to Buy tied to the Microsoft Helios news.

Q1 2026 revenue hit $10.25 billion, up 37.9% YoY, with non-GAAP EPS of $1.37 beating the $1.29 consensus. Data Center revenue grew 57% to $5.78 billion, and Q2 2026 guidance calls for $11.2 billion in revenue and 56% non-GAAP gross margin.

Why Bulls See a Path to $631 The bull case points to $631.59 over the next 12 months, a 16% return. Drivers are concrete: 6 GW of OpenAI GPU deployment, Meta committing to a 1 GW MI450-based rollout, an Oracle 50,000-GPU supercluster in Q3 2026, and Microsoft standardizing on Helios racks with Instinct MI455 GPUs, Pensando DPUs, and Venice CPUs.

CEO Lisa Su said “Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations.” Analysts are aligned: 42 Buy ratings versus 9 Holds and zero Sells.

What Could Go Wrong The bear case is $444.48, an 18.4% drawdown. Valuation is the pressure point. AMD trades at a P/E of 164 and an implied forward P/E of 119. Polymarket traders are pricing a 73% probability of an earnings miss on August 4, and 91 recent insider transactions have been net selling, including CTO Mark Papermaster’s 6,000-share disposition at $556.43.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn't make the cut. Grab the names FREE today.

Bulls note that Papermaster’s sale was under a Rule 10b5-1 plan and that institutions still own 71.34% of the float, with Swiss National Bank alone adding 4.78 million shares worth $972 million. Export controls on MI308 shipments to China remain a live wildcard.

How AMD Compares to NVIDIA and Micron NVIDIA (NASDAQ:NVDA) is the direct benchmark. It trades at a forward P/E of 23 against AMD’s implied 119, with a 63% profit margin versus AMD’s 12.51%. On pure multiple math, NVDA looks cheaper, but AMD’s growth acceleration and share-gain narrative justify a premium. 

Micron Technology belongs here as the memory partner behind the same hyperscaler capex cycle powering AMD. Bank of America’s $1,550 Buy target and U.S. 1 List addition for Micron validates the demand backdrop AMD is monetizing. If BofA is right on memory, AMD’s data center Instinct sales have the ecosystem tailwind to hit our target.

Against this peer set, our $577.42 target looks reasonable rather than aggressive.

The Setup Heading Into August 4 The 24/7 Wall St. price target is $577.42 with a buy rating at 90% confidence. The bull thesis holds if Q2 earnings validate the 46% growth guide and Helios visibility firms up. The thesis weakens if AMD guides Q3 gross margin below 55% or if the Microsoft ramp slips into 2027.

AMD Price Prediction 2026-2030 Year 24/7 Wall St. Price Target 2026 $577 2027 $618 2028 $655 2029 $685 2030 $711 These projections assume AMD executes on its Helios roadmap and hyperscaler capex holds. Meaningful upside or downside could come from MI450 share gains against NVIDIA or a broader AI capex reset.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and AMD didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

HomeStock IdeasLong IdeasTech 

SummaryAMD remains a compelling buy, with a new base case price target of $671 (21% upside) and a bullish scenario at $807.87 (45% upside).AMD's flexible, customizable AI infrastructure—spanning GPUs, CPUs, DPUs, networking, and rack-scale systems—positions it as a strong alternative to Nvidia, especially for hyperscalers seeking to avoid vendor lock-in.Rising analyst expectations reflect robust AI-driven growth: Q2 revenue consensus at $11.3B (+47% YoY), EPS at $1.61 (+235% YoY), and EBITDA/FCF estimates up 22–28%.Key risks include competition from Nvidia's integrated platform, custom ASICs, supply chain execution for Helios, and cyclicality in consumer AI-PC markets.Looking for more investing ideas like this one? Get them exclusively at The Aerospace Forum. Learn More » Tim Robberts/DigitalVision via Getty Images

In my prior report on AMD (AMD), I detailed why I believe a compute-for-equity setup seemingly is dilutive but is a strategic masterstroke preserving long-term pricing power in exchange for equity. I provided

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

On Aug. 4, Advanced Micro Devices (AMD +1.48%) will announce its second-quarter earnings results. Management has guided for revenue in the range of $10.9 billion to $11.5 billion.

That earnings report is coming at a time when companies in the artificial intelligence (AI) space have experienced a sell-off, but those stocks are showing signs of a rebound. A strong earnings report from AMD could both boost its stock price and further fuel the broader sector's rally.

AMD is already trading well above $500 per share. If the stock price keeps rising, shareholders may wonder if a stock split could be on the table.

Image source: The Motley Fool.

The unlikelihood of an AMD stock split in 2026 The last time AMD split its stock was in 2000, when it conducted a 2-for-1 split, so history doesn't offer much of a road map for how management will respond to its current situation. However, the information we have suggests that a stock split is unlikely anytime soon, even if the chipmaker reports monster earnings on Aug. 4.

Stock splits involve legal fees and require additional work through shareholder communication -- expenses a company may prefer to avoid if possible.

In addition, tech companies with stock prices well above AMD's, including Sandisk (around $1,600) and Micron Technologies (around $960), have yet to split their stocks this year. Granted, that's a small sample size, but it shows that even with where their respective stock prices are trading, those chip companies aren't feeling pressured to conduct splits.

Today's Change

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Focusing on the upcoming quarterly results Since investors can't control whether or when a management team splits a stock, the focus on AMD should be around long-term demand for its wares, its efficiency, and its revenue. AMD's updates on Aug. 4 will show whether demand from hyperscalers remains strong and whether gross margins are healthy, and offer some indications about the pace at which its revenue will keep climbing.

Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices and Micron Technology. The Motley Fool has a disclosure policy.

Advanced Micro Devices (AMD) struck a multibillion-dollar deal with Anthropic that includes an investment of up to $5 billion in the AI developer, contingent on

Bloomberg's Ed Ludlow breaks down the news of OpenAI's advanced AI models unexpectedly hacking Hugging Face's system during testing, raising fresh concerns about AI safety. Plus, AMD is making a big bet by investing up to $5 billion in Anthropic.

Advanced Micro Devices Inc (NASDAQ:AMD, XETRA:AMD) and Anthropic announced a strategic partnership on Wednesday that includes the deployment of up to 2 gigawatts of AMD's upcoming Instinct MI450 Series GPUs, a multi-year engineering collaboration, and a planned equity investment by AMD of up to $5 billion in the artificial intelligence startup.

Under the agreement, Anthropic plans to deploy up to 2 gigawatts of AMD Helios rack-scale solutions, with the first gigawatt expected to begin deployment in the first half of 2027. The systems will feature AMD Instinct MI455X GPUs, part of the MI450 Series, alongside AMD EPYC "Venice" CPUs, Pensando networking technology and ROCm software.

The deployment expands Anthropic's existing use of AMD Instinct MI355X GPUs as the AI company increases computing capacity to support growing demand for its Claude AI models.

The companies also announced a multi-year engineering collaboration focused on software development. Anthropic's Claude AI assistant will be used to optimize workloads for AMD Instinct GPUs and accelerate development of AMD's ROCm software platform. AMD also plans to adopt Claude more broadly across its engineering and product development teams.

In addition, AMD committed to make a strategic equity investment of up to $5 billion in Anthropic in the future.

AMD CEO Lisa Su stated that the expanded collaboration combines Anthropic's AI capabilities with AMD's high-performance computing technologies to support broader AI deployment and strengthen the Helios platform for future AI infrastructure.

Anthropic chief compute officer Tom Brown stated that access to computing capacity is critical for advancing Claude and meeting customer demand.

“By partnering with AMD across the stack, we are securing the capacity we need and optimizing it for training and serving Claude,” Brown said. “Running across a diversified range of hardware lets us map the right workloads to the right hardware.”

Shares of AMD traded up about 1% at $548 on the announcement.

AMD (NASDAQ: AMD | AMD Price Prediction) and NVIDIA (NASDAQ: NVDA) both closed spring reporting periods with blockbuster AI numbers, but the businesses are pulling in different directions. AMD is trying to become the credible second source for every hyperscaler. NVIDIA is running what Jensen Huang called “the largest infrastructure expansion in human history.” That gap is where the market share fight lives.

Instinct Finally Shows Up. Blackwell Keeps Compounding. AMD’s Q1 FY2026 delivered revenue of $10.25 billion, up 37.9% year over year, with Data Center hitting $5.78 billion, a 57% jump on EPYC CPUs and Instinct GPUs. Non-GAAP EPS came in at $1.37. Lisa Su pointed to the pipeline: “Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations.” The Meta 6 GW commitment and OpenAI 6 GW deal back that claim.

NVIDIA’s Q1 FY2027 is on a different scale. Revenue landed at $81.6 billion, up 85.2%, Data Center alone was $75.25 billion, and Networking exploded 199% to $14.8 billion. Non-GAAP gross margin held at 75%. Roughly half of Data Center revenue comes from hyperscalers, and Huang added a $80 billion buyback on top.

Second Source vs. Full Stack Lens AMD NVIDIA Data Center revenue $5.78B $75.25B Gross margin 55% 75% Core bet MI450, Helios rack, EPYC pairing Blackwell 300, Vera Rubin, CUDA Marquee wins Meta 6 GW, OpenAI 6 GW OpenAI 10 GW, Anthropic, CoreWeave The 20 point margin gap tells you who owns pricing power. NVIDIA sells a platform. AMD sells excellent merchant silicon, which is exactly why hyperscalers want it as leverage. That is the wedge.

Inference Is the Door AMD Walks Through The bull case is a structural rotation from AI model training to AI model inference, combined with hyperscaler enterprise demands for supply chain diversification and cost optimization. The target is aggressive: a 15% to 20% share of the $200B+ AI accelerator market by 2027/2028. Watch MI450 shipment cadence, ROCm 7 adoption, and whether AMD’s Q2 guide of roughly $11.2 billion (+46% YoY) proves conservative once Helios racks ship.

NVIDIA’s tell is different. Guidance of $91 billion excludes China Data Center compute, and Polymarket traders are pricing NVDA in a tight $200 to $216 range against an analyst target of $302.31. Near-term skepticism is real.

Where the Asymmetric Setup Sits for the Next 18 Months If you want the safer AI compounder, NVIDIA owns the software moat and 75% margins. But AMD is where the asymmetric setup sits. Shares are up 154.22% year to date against NVDA’s 11.28%, and a forward P/E near 69 reflects expectations that leave little room for execution slips. My view flips if MI450 slips or ROCm adoption stalls. Until then, the second-source thesis is doing exactly what Lisa Su said it would.

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