Philip Carter, the Chief Accounting Officer of Advanced Micro Devices, has resigned effective September 5, 2025, to accept a position as Chief Financial Officer at another company. His departure is not related to any disputes or disagreements regarding the company's accounting practices or financial reporting.
In the interim, Jean Hu, AMD's Executive Vice President, Chief Financial Officer, and Treasurer, will take over the responsibilities of Chief Accounting Officer while the company searches for a permanent replacement. There are no disclosed arrangements regarding her appointment, and she does not have any material interests in transactions that require disclosure.
linkAug 25, 2025 16:07:00
Advanced Micro Devices (AMD) announced financial results for the second quarter of 2025, reporting a record revenue of $7.7 billion, a gross margin of 40%, and a net income of $872 million, which translates to diluted earnings per share of $0.54. The results were affected by U.S. Government export controls on AMD's MI308 data center GPU products, leading to approximately $800 million in inventory and related charges. Without these charges, the non-GAAP gross margin would have been about 54%. The company experienced significant year-over-year revenue growth, particularly in its Data Center and Client and Gaming segments, with increases of 14% and 69%, respectively.
AMD also highlighted several strategic partnerships and product announcements aimed at enhancing its AI and data center capabilities. The company entered into a definitive agreement to sell its data center infrastructure manufacturing business for $3 billion in cash and stock, which is expected to close by the end of 2025. Additionally, AMD announced its latest AI solutions and collaborations with major partners, reinforcing its position in the high-performance computing market. For the third quarter of 2025, AMD anticipates revenue of approximately $8.7 billion, excluding any revenue from MI308 shipments to China, which are currently under review by the U.S. Government.
linkAug 05, 2025 16:16:31
On June 27, 2025, Advanced Micro Devices' Board of Directors approved salary increases for several members of its executive team, effective July 1, 2025. Additionally, on August 15, 2025, these executives will receive equity awards under the 2023 Equity Incentive Plan, with varying target values based on their roles. Dr. Su will receive a mix of 75% performance-based restricted stock units (PRSUs) and 25% stock options, while other executives will receive a combination of 60% PRSUs, 20% stock options, and 20% time-based restricted stock units (RSUs). The actual number of PRSUs earned will depend on the company's total shareholder return relative to the S&P 500 Index over a performance period ending August 15, 2028.
The PRSUs may range from 0% to 250% of the target number based on performance metrics, including total shareholder return and non-GAAP earnings per share. If the company's total shareholder return is negative, the maximum PRSUs that can be earned is capped at 100%. Stock options will have an exercise price equal to 100% of the closing price on the grant date and will vest over a four-year period, while RSUs will also vest quarterly over the same duration. In the event of a change in control, the earned PRSUs will convert to RSUs, with specific vesting terms outlined.
linkJul 02, 2025 16:14:22
AMD has announced a definitive agreement to divest its ZT Systems data center infrastructure manufacturing business to Sanmina for a total of $3 billion, which includes a contingent payment of up to $450 million. This transaction is expected to close by the end of 2025, pending regulatory approvals and customary closing conditions. As part of the deal, Sanmina will also become a preferred manufacturing partner for AMD's cloud-based AI solutions, while AMD will retain ZT Systems' design and customer enablement teams to enhance the quality and deployment speed of its AI systems.
The divestiture aligns with AMD's strategy to optimize its operations following the acquisition of ZT Systems, which was initially announced in August 2024. Sanmina's capabilities in liquid cooling and high-quality manufacturing are expected to complement AMD's offerings in the AI and cloud infrastructure sectors. This partnership aims to strengthen AMD's manufacturing capabilities and improve product delivery for its cloud customers.
linkMay 19, 2025 07:50:48
AMD announced its financial results for the first quarter of 2025, reporting revenue of $7.4 billion, a 36% increase compared to the same quarter last year. The company achieved a gross margin of 50%, with operating income at $806 million and net income of $709 million, translating to diluted earnings per share of $0.44. On a non-GAAP basis, the gross margin was 54%, with operating income of $1.8 billion and net income of $1.6 billion, resulting in diluted earnings per share of $0.96. The growth was driven by strong performance in AMD's core businesses and data center segments, particularly with EPYC CPUs and Instinct GPUs.
In terms of segment performance, the Data Center segment generated $3.7 billion in revenue, marking a 57% year-over-year increase. The Client and Gaming segments reported $2.9 billion in revenue, a 28% increase, although gaming revenue saw a decline due to reduced semi-custom sales. AMD's acquisition of ZT Systems aims to enhance its capabilities in the AI sector, addressing a significant market opportunity. The company continues to invest in research and development to support long-term growth and shareholder value.
linkMay 06, 2025 16:16:45
AMD has finalized its acquisition of ZT Systems, a provider of AI and compute infrastructure, which is anticipated to enhance its capabilities in delivering AI solutions. This strategic move aims to combine AMD's silicon and software with ZT Systems' design expertise, potentially positioning AMD to address significant opportunities in the data center market. Key personnel from ZT Systems will join AMD's Data Center Solutions business unit to facilitate integration and accelerate AI infrastructure deployment.
However, AMD has acknowledged potential challenges related to the integration of ZT Systems and the sale of its manufacturing business. There are risks that the expected benefits and synergies from the acquisition may not materialize as planned, and unanticipated costs could arise during the integration process. Additionally, the transaction may impact AMD's relationships with various stakeholders and could disrupt business operations.
linkMar 31, 2025 08:37:51
The Company has issued $950 million in unsecured commercial paper under its commercial paper program, which is exempt from registration under federal and state securities laws. The commercial paper will not be registered under the Securities Act and cannot be offered or sold except in compliance with applicable exemptions from registration requirements.
The press release clarifies that the information provided does not constitute an offer to sell or solicit an offer to purchase any securities, nor will there be any sale of the commercial paper in jurisdictions where such actions would be illegal.
linkMar 24, 2025 16:17:24
AMD announced record revenue of $25.8 billion for the full year 2024, representing a 14% increase from the previous year. The company also reported significant improvements in operating income, which surged to $1.9 billion, and diluted earnings per share rose to $1.00. The Data Center segment showed remarkable growth, nearly doubling its revenue, driven by the strong adoption of EPYC processors and AMD Instinct accelerators. The fourth quarter alone saw a record revenue of $7.7 billion, a 24% year-over-year increase, alongside a gross margin of 51%.
Conversely, AMD faced challenges in its Gaming and Embedded segments, with Gaming revenue declining by 59% year-over-year, primarily due to lower semi-custom revenue. The Embedded segment also experienced a 13% decrease, attributed to mixed end market demand and inventory normalization. Additionally, net income for the fourth quarter fell by 28% compared to the previous year, highlighting pressures on profitability despite strong revenue growth.
linkFeb 04, 2025 16:17:17
AMD announced impressive financial results for the third quarter of 2024, with revenues reaching $6.8 billion, marking an 18% increase from the previous year. The company's gross margin improved to 50%, supported by strong sales in their data center and Ryzen PC processor segments. Notably, the data center revenue surged by 122% year-over-year, showcasing AMD's growing presence in this market. Additionally, the company reported a significant rise in net income and earnings per share, reflecting robust operational execution and a positive outlook for future growth in various segments.
However, not all segments performed equally well. The gaming segment saw a significant drop in revenue, down 69% year-over-year, primarily due to decreased semi-custom revenue. The embedded segment also faced challenges, with a 25% decline in revenue compared to the previous year, although it did see an 8% increase sequentially. Despite these setbacks, AMD's overall performance highlights its resilience and strong positioning in the tech industry, particularly in the face of evolving market demands.
linkOct 29, 2024 16:16:49
AMD has announced a significant acquisition of ZT Systems, a leader in AI infrastructure, for $4.9 billion. This move is expected to enhance AMD's capabilities in delivering advanced AI solutions to cloud and enterprise customers, leveraging ZT's expertise in designing and deploying data center systems. The acquisition aligns with AMD's strategy to strengthen its AI hardware and software offerings, positioning the company to better compete in the growing data center market, projected to be worth $400 billion by 2027.
While the acquisition is seen as a strategic boost, AMD plans to seek a partner for ZT Systems' manufacturing business, which may introduce uncertainties. The deal, expected to close in the first half of 2025 pending regulatory approvals, has been unanimously approved by AMD's Board of Directors. Overall, this acquisition marks a pivotal step for AMD in enhancing its presence in the AI sector, although the successful integration of ZT Systems remains a crucial factor for future growth.
linkAug 19, 2024 06:22:30