AMD expects to outsell Intel in Q4 for the first time in history

AMD’s third-quarter 2026 revenue reached a record $13.377 billion, up from $9.25 billion a year earlier, as data-center sales surged and lifted profits. The Data Center unit generated $8.55 billion, 64% of company revenue, nearly doubling year over year on demand for Epyc server processors and Instinct AI accelerators. AMD expects that unit to bring in about $12.8 billion in Q4, with new accelerators and Helios rack systems driving growth. Its overall Q4 revenue forecast of roughly $17 billion, plus or minus 3%, would exceed Intel’s projected $15 billion to $16 billion for the first time. AMD also forecasts that server CPU revenue will double in 2027, while AI accelerator and rack revenue will more than double.

Growth is uneven across AMD’s businesses. Client and Gaming revenue fell 8% year over year to $3.722 billion, as weaker console-chip purchases and subdued Radeon GPU sales outweighed modest growth in PC processors. Higher memory prices are expected to contribute to a more than 20% sequential decline in that business in Q4; AMD also anticipates PC shipments falling by a double-digit percentage in 2027, though it expects to outperform through enterprise, premium consumer, and desktop products. Embedded revenue rose 29% to $1.11 billion, supported by aerospace, automotive, communications, and industrial demand. AMD expects embedded growth to accelerate, while data centers rise above 80% of total revenue in 2027, making the company increasingly dependent on AI and server spending.