Ryzen Zen 5系列桌面处理器

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AMD(AMD.US)Q2财报遇冷:数据中心增速远逊英伟达(NVDA.US) 中国市场变数拖累业绩
智通财经网· 2025-08-05 23:56
Core Viewpoint - AMD's second-quarter profits fell short of market expectations, raising concerns about its AI business prospects, particularly due to uncertainties in re-entering the Chinese market [1][2][3] Financial Performance - AMD reported a 32% year-on-year revenue increase to $7.7 billion, exceeding analyst expectations of $7.43 billion, but adjusted earnings per share were $0.48, below the expected $0.49 [1] - Data center revenue grew 14% to $3.2 billion, slightly below the market expectation of $3.25 billion, while competitor NVIDIA saw a 73% increase in data center revenue to $39.11 billion [1][2] Market Outlook - AMD anticipates third-quarter revenue of approximately $8.7 billion, above the analyst average of $8.37 billion, with an adjusted gross margin forecast of around 54% [2] - The revenue forecast does not include any income from the MI308 AI chip sales to China, pending U.S. government approval for export licenses [2][3] Product Development and Strategy - AMD is accelerating the launch of the new MI350 product line, expecting a significant increase in chip production in the second half of the year [3] - The new Instinct MI350 chip is said to match NVIDIA's GB200 in training and inference performance, with seven out of the top ten AI model developers adopting AMD's Instinct chips [4][3] Business Segments - Client and gaming segments saw a 69% year-on-year revenue increase to $3.6 billion, with client revenue up 57% to $2.5 billion and gaming revenue up 73% to $1.1 billion, driven by strong demand for the Ryzen Zen 5 series and custom gaming chips [4][5]