AMD三季度营收创单季度历史新高，但盘后股价跌超3%

Core Insights - AMD's AI business revenue is expected to reach several billion dollars by 2027, driven by increasing demand for AI-related products and services [4] Financial Performance - For Q3 2025, AMD reported revenue of $9.2 billion, a 36% year-over-year increase, marking a record high for quarterly revenue [1] - The company's net profit for the same quarter was $1.2 billion, up 61% year-over-year, with a gross margin of 52% [1] - The data center segment generated $4.3 billion in revenue, a 22% increase year-over-year, primarily due to demand for the fifth-generation AMD EPYC processors and Instinct MI350 series GPUs [3] - The client and gaming segment saw revenue of $4 billion, a significant 73% year-over-year increase [3] - The embedded segment reported revenue of $857 million, down 8% year-over-year [3] Future Outlook - AMD's revenue guidance for Q4 is set at a midpoint of $9.6 billion, with a fluctuation range of $300 million, exceeding previous market expectations [3] - The company anticipates a non-GAAP gross margin of approximately 54.5% for Q4 [3] - AMD plans to deploy the first 1 GW of AMD Instinct MI450 GPUs in collaboration with OpenAI in the second half of 2026 [3][4] - CEO Lisa Su indicated that many customers are planning significant CPU expansions to support AI workloads, with substantial CPU spending expected in 2026 [3] Market Context - AMD's stock price has increased by 107.01% from the beginning of the year to November 4, 2023, reaching a historical high of $264.33 per share at the end of October [4] - Despite exceeding revenue guidance, AMD's stock fell by 3.7% on November 4, amid broader market declines, with the Nasdaq down 2.04% [4]