加利福尼亚州圣克拉拉市—2026年2月3日—AMD(NASDAQ: AMD)今日公布2025年第四季度及年度财 报。2025年第四季度营业额达到创纪录的103亿美元，毛利率为54%，经营收入18亿美元，净收入15亿 美元，摊薄后每股收益为0.92美元。基于非GAAP标准，毛利率为57%，经营收入创新高，达到29亿美 元，净收入为创纪录的25亿美元，摊薄后每股收益为创纪录的1.53美元。 2025年全年，AMD年度营业额达到创纪录的346亿美元，毛利率50%，经营收入37亿美元，净收入43亿 美元，摊薄后每股收益为2.65美元。基于非GAAP标准，毛利率为52%，经营收入创新高，达到78亿美 元，净收入为创纪录的68亿美元，摊薄后每股收益为创纪录的4.17美元。 AMD 董事会主席及首席执行官Lisa Su 博士表示："2025 年是 AMD 具有决定性意义的一年，我们凭借 卓越的执行力以及市场对AMD高性能与AI平台的广泛需求，实现了创纪录的营业额和利润。进入2026 年，我们各项业务都展现出强劲势头，这主要得益于高性能的EPYC(霄龙)和Ryzen(锐龙)CPU被市场加 速采用，以及我们数据中心AI业务的快 ...

截至2026年2月4日 13:03，中证人工智能主题指数(930713)成分股方面，光环新网领跌9.57%，润泽科技 下跌8.16%，澜起科技下跌8.06%，新易盛下跌6.67%，深信服下跌6.27%。AI人工智能ETF(512930)最新 报价2.23元。 流动性方面，AI人工智能ETF盘中换手5.73%，成交1.88亿元。拉长时间看，截至2月3日，AI人工智能 ETF近1月日均成交2.53亿元。 消息面上，AMD披露2025年第四季度财报，当期实现营收102.7亿美元，同比增长34%，超出市场预估 的96.5亿美元。同期调整后每股收益达1.53美元，较上年同期的1.09美元有所提升，同样超出市场预估 的1.32美元。AMD CEO苏姿丰称，公司具备良好发展基础，未来三到五年内数据中心业务收入年增长 率有望超过60%。同时，公司预计到2027年人工智能业务年销售额将达到数百亿美元。 风险提示：基金有风险，投资需谨慎。基金管理人承诺以诚实信用、勤勉尽责的原则管理和运用基金资 产，但不保证本基金一定盈利，也不保证最低收益。基金管理人提醒投资人基金投资的"买者自负"原 则，在做出投资决策后，基金运营状况与基金净值 ...

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2026.02. 04 本文字数：1118，阅读时长大约2分钟 作者 | 第一财经 郑栩彤 展望后续，AMD预计第一季度营收95亿美元至101亿美元，其中有1亿美元收入来自向中国客户销售MI308。 按营收区间的中点计算，虽然今年第一季度营收同比增长32%，但环比下降约5%。虽然业绩预测超此前市场平均预期，但此前有部分乐观的预测认为第 一季度营收将超100亿美元。第一季度收入环比下降引发了投资者对AMD能否挑战英伟达的质疑。 苏姿丰预计，未来3到5年内，AMD数据中心部门的收入每年将增长60%以上。她预计AMD 2026年的营收和利润还将显著增长，并预计到2027年， AMD人工智能业务年收入将扩大至数百亿美元。"展望未来，我们看到了一条清晰的道路。"苏姿丰称，AMD可以实现未来3到5年营收增速达35%以上 的目标，并实现超20美元的年每股收益。 具体到一些细分市场，苏姿丰称，去年第四季度AMD向云和企业客户销售的服务器CPU创新高，年末AMD在数据中心CPU市场中的份额创历史纪录。 看向2026年，服务器CPU市场规模预计将保持百分比两位数的增长，面向企业客户的PC业务预计在高端溢价基础上继续增长。 她还谈 ...

半导体产业中，CPU常被视为依循技术迭代稳步增长的品类，价格难有太大波动。但近日AI的风终于吹到了CPU上，有传言称，相关厂商产能紧张、服务 器甚至消费级产品价格均有上涨趋势。 实际情况究竟怎样？智通财经记者日前走访深圳华强北发现，CPU的涨价潮尚未蔓延至C端，消费级CPU的价格较12月几乎没有变化；而服务器级CPU价 格则在销售终端发生分化，同一型号产品在不同商家处甚至出现了涨价、不变、降价三种情况。同时，不少CPU商家向记者直言，由于CPU变化太小，近 期不卖CPU，主要做内存。 图片来源：智通财经记者/摄 万创投行副总裁代智勇告诉智通财经记者，这一轮价格变化更偏向结构性分化，而非全品类、全面上涨。 "接下来预计CPU市场仍将延续分化特征。消费级CPU价格整体以稳定为主；而服务器端，尤其是面向AI算力、高性能计算等特定应用的CPU，价格表现 可能存在短期波动，但在产能逐步释放、系统方案优化的背景下，出现全面、持续性大幅上涨的可能性并不高。"代智勇说。 涨价进度几何？ 近期，各类CPU涨价甚至缺货的消息在市场上流传。 有媒体援引KeyBanc数据称，由于超大规模云服务商"扫货"，英特尔与AMD方面2026年 ...

February 3, 2026 12:34 PM GMT OVERVIEW Equity analyst Lee.Simpson@morganstanley.com +44 20 7425 3378 Nigel van Putten Equity analyst Nigel.Putten@morganstanley.com +44 20 7425-2803 MORGAN STANLEY TAIWAN LIMITED + Charlie Chan Equity analyst Charlie.Chan@morganstanley.com +886 2 2730-1725 Global Technology Webcast M O R G A N S T A N L E Y R E S E A R C H Global Memory, Semi Cap and AI Supply Chain Outlook Europe MORGAN STANLEY & CO. INTERNATIONAL PLC+ Shawn Kim Equity analyst Shawn.kim@morganstanley.com +44 ...

3 February 2026 | 4:35PM EST Equity Research Advanced Micro Devices Inc. (AMD): First Take: Strong quarter and guidance given constructive Datacenter trends 1Q guidance is above the Street. AMD guided 1Q revenue and gross margin above the Street. Revenue was guided to $9.80 bn at the midpoint, which is above GS at $9.23 bn and the Street at $9.40 bn. Non-GAAP gross margin was guided to 55%, which is just above GS at 54.5% and the Street at 54.8%. It is unclear what level of reserved inventory is contemplate ...

Advanced Micro Devices (NASDAQ:AMD) is one of the 10 best NASDAQ growth stocks to buy for the next 10 years. On January 29, Susquehanna analyst Christopher Rolland reiterated his Buy rating on Advanced Micro Devices (NASDAQ:AMD) stock, along with a price target of $300. This represents a 19% upside from the current price. Top Industry in the World in 2024 The reasons for the above upgrade are twofold. First, AMD’s fundamentals are improving according to the analyst. AMD’s EPYC Server CPUs have a strong d ...

Core Viewpoint - AMD reported unexpected sales growth in the Chinese market for the October to December quarter, but warned of uncertainties due to ongoing geopolitical tensions affecting U.S. chip companies [2] Group 1: Financial Performance - AMD's revenue for the quarter reached $10.3 billion, a 34% year-over-year increase, including $390 million from the MI308 AI chip sales, which were not included in previous forecasts [2] - The data center business segment generated $5.4 billion in sales, up 39% year-over-year, driven by growth in CPU and AI GPU sales [6] - Client and gaming business revenue grew 37% to $3.9 billion, primarily due to increased demand for Ryzen processors [6] Group 2: Market Dynamics - AMD plans to ship an additional $100 million worth of MI308 chips to China in the upcoming quarter, but has not forecasted any additional revenue from China due to market uncertainties [3] - The company is actively working on obtaining licenses for the MI325 chip and is in discussions with customers to understand their needs [3] - Despite the overall PC market expected to shrink due to rising component prices, AMD anticipates continued growth in its PC business through 2026, focusing on enterprise and high-end markets [8] Group 3: Product Development - AMD is set to launch a new integrated server-level AI system named Helios later this year, with ongoing discussions to increase sales of Helios or MI450 chips [6] - The company is also preparing to reintroduce older CPUs based on the Zen 3 architecture to address memory shortages and facilitate upgrades for users with existing DDR4 memory [8] - AMD's enterprise business has become its largest segment, indicating a shift in focus towards data center and enterprise solutions [9]

Jensen Huang, chief executive officer of Nvidia Corp., speaks during the 2026 CES event in Las Vegas, Nevada, US, on Tuesday, Jan. 6, 2026.Advanced Micro Devices reported fourth-quarter earnings on Tuesday after the bell. The chipmaker beat Wall Street's revenue and profit estimates, but shares plunged more than 8% in extended trading because its guidance came up short of some expectations.AMD's main rival, Nvidia, is facing difficulties of its own. CEO Jensen Huang told CNBC's Jim Cramer on Tuesday that th ...