$AMD · ADVANCED MICRO DEVICES INC
AMD reported Q3 FY2026 results on November 3, 2026, with record revenue of $13.377B (up 45% YoY), GAAP diluted EPS of $1.46, and non-GAAP diluted EPS of $2.09. Data Center segment revenue surged 97% YoY to $8.546B on record Instinct GPU and EPYC CPU sales, while Client & Gaming declined 8% YoY to $3.722B. Non-GAAP gross margin reached 56%, and the company held $15.776B in cash and short-term investments against $7.079B in total debt following a $4.75B senior notes offering.
- Record Q3 revenue of $13.377B, up 45% YoY and 16% QoQ
- Data Center segment revenue hit $8.546B, up 97% YoY, driven by record Instinct GPU and EPYC CPU sales
- Non-GAAP diluted EPS of $2.09, up 74% YoY; GAAP EPS of $1.46, up 95% YoY
- Non-GAAP gross margin expanded to 56%, up 190 bps YoY on richer product mix
- Total debt rose to $7.079B from $3.226B in Q2 after $4.75B senior notes offering in August
Extended-hours trading shows shares at $524.15, up 8.32% vs the regular-session close of $483.90, reflecting strong positive reaction to the Data Center beat and record revenue. AMD's $789.95B market cap suggests the move adds roughly $65B in value.
AMD's Data Center segment is now on a ~$34B annualized run rate, nearly doubling in a year, signaling it is capturing a material share of the AI infrastructure buildout dominated by NVIDIA.
AMD's Data Center revenue nearly doubling YoY underscores the AI infrastructure buildout cycle, with hyperscaler customers including Anthropic, Meta, Microsoft, OpenAI, and Oracle all deploying AMD Helios rackscale solutions and MI450 GPUs.
Forward-looking risks cited include export regulations, tariffs, and trade protection measures that could constrain Data Center GPU sales; competitive pressures in AI accelerators; and integration risks from the announced acquisitions of World Labs and Taalas.