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# AMD Guides To About $17 Billion Fourth-Quarter Revenue After Data Center Sales Jump 97%
- URL: https://www.bullished.co/amd-guides-to-about-17-billion-fourth-quarter-revenue-after-data-center-sales-jump-97-1cead446/
- Published: 2026-11-03T21:44:08.000Z
- Updated: 2026-11-03T21:44:08.000Z
- Description: Third-quarter revenue rose 45% to $13.4 billion, while inventory and debt climbed alongside the AI-chip surge.
- Author: Matteo Parrino
- Tags: Earnings, AMD, Industry: Technology

AMD, the chip designer behind Instinct AI accelerators and EPYC server processors, said Tuesday that Data Center revenue soared 97% to a record $8.5 billion in the third quarter, lifting total sales to [$13.4 billion](https://www.sec.gov/Archives/edgar/data/0000002488/000000248826000188/q32026991.htm?ref=bullished.co), up 45% from a year earlier, according to an [8-K filing](https://www.sec.gov/Archives/edgar/data/0000002488/000000248826000188/amd-20261103.htm?ref=bullished.co). The company guided the fourth quarter to about $17 billion.

## Data Center carries the quarter

Revenue topped the high end of AMD's own guidance. Chair and CEO Lisa Su said Data Center sales "nearly doubled" and that she expects growth to accelerate further in the fourth quarter as AMD scales production of its Helios rack systems and "Venice" processors.

Data Center growth was credited to EPYC demand and the launch of Instinct MI450 GPUs. Embedded revenue rose 29% to $1.1 billion. Client and Gaming fell 8% to $3.7 billion, as Gaming revenue dropped 40% to $773 million on lower semi-custom and graphics sales, while Client rose 7% to $2.9 billion.

On an adjusted basis, earnings per share rose 74% to $2.09 and adjusted gross margin was 56%. Standard-accounting net income was $2.4 billion, or $1.46 per share, which includes a $1.1 billion charge from remeasuring warrants issued to customers. That charge is driven by changes in AMD's stock price and other valuation assumptions, the company said.

## A roughly 66% growth forecast

For the fourth quarter, AMD expects revenue of about $17 billion, plus or minus 3%. The midpoint implies year-over-year growth of approximately 66% and a sequential increase of approximately 27%, the company said. Adjusted gross margin is expected near 55%.

## Inventory and debt build alongside sales

Inventories ended the quarter at $11.5 billion, against $7.9 billion at the end of 2025\. Total debt rose to $7.1 billion, including a $4.75 billion senior notes offering completed in August.

Free cash flow was $554 million, down from $1.5 billion a year earlier, as receivables and inventory absorbed cash. Cash and short-term investments reached a record $15.8 billion, up from $7.2 billion a year earlier.

AMD also agreed to buy World Labs and Taalas, deals it expects to close by the end of 2026, subject to regulatory approvals. The company holds its earnings call at 5:00 p.m. ET Tuesday.

Anthropic, Meta, Microsoft, OpenAI and Oracle Cloud Infrastructure are already running workloads on the first Helios systems, AMD said.

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### Sources

- [8-K Filing — ADVANCED MICRO DEVICES INC (AMD)](https://www.sec.gov/Archives/edgar/data/0000002488/000000248826000188/amd-20261103.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit q32026991.htm — ADVANCED MICRO DEVICES INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000002488/000000248826000188/q32026991.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit amdq32026earningsslidesf.htm — ADVANCED MICRO DEVICES INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000002488/000000248826000188/amdq32026earningsslidesf.htm?ref=bullished.co) — SEC EDGAR