AMD 2Q25
- Revenue up 3% q/q and 32% y/y to $7.7 (above mid pt guidance)- Except DC, all end markets up q/q in QJun- All-time-high quarter for PC CPU and server CPU- Export controls affected DC GPU sales; down y/y and q/q- DC revenue down 12% q/q and up 14% y/y to $3.2B; incremental revenue driven by server CPU; momentum in Cloud and Enterprise segments- Strong DD% q/q DC growth in QSep- MI35x launch and broad adoption; Oracle 27k MI355 cluster- MI400 on track for 2026 launch; high customer interest, large scale deployments; rack-scale (Helios); 72 GPU- MI308 will ship once licenses approved; 3Q guidance excludes MI308 revenue- DC GPU will resume y/y and growth in 3Q and will grow in 4Q as well- 40+ sovereign engagements- Sees a path to tens of billions of dollars of DC GPU revenue; contingent on gigawatt DCs- DC GPU still below corporate average GM; but expects it to grow over time as revenue grows and operational efficiencies kick in- MI355 to ramp quicker than MI300- MI355/400 lead times 8-9 monthsSource: Sravan Kundojjala
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