中国市场约占AMD收入的四分之一，这一占比与英伟达中国市场占比相当。英伟达此前也表示，预计新一轮出口限制将产生55亿美元的费用。 当地时间5月6日，AMD公司表示，美国新一轮芯片出口限制预计在本季度对公司造成7亿美元损失，并导致该公司年收入减少15亿美元。5月7日美股盘前， AMD股价下跌近2%。今年以来，AMD股价累计下跌已接近20%。 截至目前，已有多家美国半导体厂商公布财报，AI、关税等问题成为投资者关注的焦点。 当天，AMD公司CEO苏姿丰在财报电话会议上表示，美国的芯片出口限制措施的大部分影响将在今年第二季度和第三季度显现。新措施要求该公司获得许 可才能向中国出口先进的人工智能芯片，这些芯片包括Instinct MI308X。 "这无疑是一个不利因素，但考虑到我们正在进行的其他工作，我们认为这个因素仍然可控。"她说道。 苏姿丰预计AMD数据中心业务的AI芯片收入今年将实现强劲的两位数增长。她还表示，公司在第一季度没有看到太多与关税相关的业绩变化。 AMD是仅次于英特尔的第二大服务器CPU供应商，该公司也是GPU领域英伟达最强劲的竞争对手。2024财年，AMD的人工智能芯片销售额达50亿美元。 与英伟 ...

Core Viewpoint - AMD reported strong Q1 2025 earnings, with significant year-over-year growth in revenue and net income, despite a slight quarter-over-quarter decline in revenue [2][5][10]. Financial Performance - Q1 2025 revenue reached $7.438 billion, a 36% increase from $5.473 billion in Q1 2024, but a 3% decrease from $7.658 billion in Q4 2024 [3][10]. - Operating income surged to $806 million, up 2139% year-over-year, while net income rose to $709 million, reflecting a 476% increase [2][3]. - Non-GAAP gross margin was reported at 54%, with diluted earnings per share at $0.96 [2][10]. Business Segments - Revenue sources include data center, client, gaming, and embedded segments [7]. - Data center revenue was $3.7 billion, up 57% year-over-year, driven by strong sales of AMD EPYC CPUs and Instinct GPUs [10]. - Client segment revenue reached $2.9 billion, a 28% increase, with client business growing 68% due to demand for the latest "Zen 5" architecture [10]. AI Chip Development - AMD began providing samples of the AI chip Instinct MI350 series to multiple customers, with production expected to ramp up in the second half of the year [5][6]. - The MI350 series offers 35 times the throughput and performance compared to the MI300X [5]. Regulatory Impact - Recent U.S. export controls on the MI308X chip to China are expected to impact AMD's revenue by approximately $1.5 billion for the full year 2025 [5][10]. - The company anticipates Q2 2025 revenue to be around $7.4 billion, with a potential $800 million impact from the new export controls [10]. Market Outlook - AMD's CEO expressed confidence in achieving double-digit revenue growth for 2025, supported by a strong product portfolio and increasing market share in AI workloads [6][10]. - The company completed the acquisition of ZT Systems to enhance its capabilities in the data center AI accelerator market, which is projected to reach $500 billion by 2028 [8].