AMD shares rose 7.3% in an early Wednesday premarket snapshot reported by Reuters, but were down 1.2% before the U.S. open, as EconoTimes reported in its later premarket update.
The Reuters dispatch was published at 4:52 a.m. ET, making the gain an early snapshot ahead of the U.S. open. AMD reported its third-quarter results Tuesday and discussed its longer-term outlook on a Nov. 3 earnings call.
AMD’s Form 10-Q recorded $8.546 billion in third-quarter Data Center revenue, up 97% from $4.341 billion a year earlier. AMD cited demand for EPYC server processors and the launch of AMD Instinct MI450 Series GPUs as contributors. Across all its businesses, revenue reached $13.377 billion, a 45% annual increase.
Data Center supplied about 64% of AMD’s quarterly revenue, showing its growing weight in the company’s sales. Revenue from Client and Gaming, by comparison, declined to $3.722 billion from $4.048 billion a year earlier. AMD reports server processors and AI accelerators within the same Data Center segment.
AMD Chair and CEO Lisa Su said on the earnings call that she expects companywide revenue to grow more than 80% in 2027. She also projected that Data Center would account for more than 80% of sales that year. Those figures are forecasts, while the third-quarter figures are reported results.
The expansion comes with a larger inventory balance. AMD held $11.463 billion in inventory as of Sept. 26, 2026; the balance was $7.920 billion on Dec. 27, 2025. Its filing warns that supply constraints can delay shipments and that overestimating demand can leave excess inventory and raise costs.
AMD calculated third-quarter free cash flow, a non-GAAP measure, at $554 million. That was down from $1.558 billion in the preceding quarter, even as revenue increased.
For the fourth quarter, AMD forecasts revenue of around $17 billion, with a 3% range on either side. That guidance is its next stated financial benchmark.