Advanced Micro Devices Inc

Company facts

Industry

Semiconductors & Related Devices

Headquarters

Santa Clara, California

Most recent report

8-K, filed Aug 19, 2026

Incorporated

Delaware

Filings on record

1,001+ filings

On EDGAR

CIK 2488

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 4 of 11 sections worth reading, with 5 positive, 8 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Core financial statements with segment details, commitments, and warrants; numbers anchor value.
  Notable

  • After Q2 2026, committed up to $5.0B in investments and signed $9.5B in data center leases starting 2027-2028.
  • $4.1 billion in lease guarantees for commercial partner data center obligations, with terms up to 15 years.
  • Warrants to OpenAI and Meta each for up to 160 million shares at $0.01 per share, not yet vested or exercisable.

• Management's Discussion (Item 2)

  Data Center revenue doubled, warrants to OpenAI and Meta, huge future lease commitments.
  Positive

  • Total net revenue $11.5B in Q2 2026, up 50% YoY.
  • Gross margin 54% in Q2 2026 vs 40% a year ago, a 14-point jump.
  • Operating income $2.0B in Q2 2026 vs a loss of $134M last year.
  • Data Center revenue $6.7B in Q2 2026, up 107% YoY.
  • Operating cash flow $5.3B in H1 2026, more than double $2.4B a year ago.
  Notable

  • Other income $598M in Q2 2026, up 510%, driven by unrealized gains from a public listing.
  • Unconditional commitments $30.3B, with $17.4B due in remainder of FY2026.
  Negative

  • Gaming revenue $779M in Q2 2026, down 31% YoY due to lower semi-custom sales.

• Market Risk (Item 3)

  New disclosure: investment portfolio doubled with carrying values given.
  Notable

  • Marketable equity securities jumped from $0.2B to $1.2B; non-marketable from $1.1B to $1.7B, increasing market risk.

• Risk Factors (Item 1A)

  Several new company-specific risks: China countermeasures, credit facility change, international sales drop.
  Notable

  • Helios rack-scale platform expected to start shipping in H2 fiscal 2026; AMD supplies only certain products, not complete systems.
  • AMD replaced its $3.0B credit facility with a $5.0B facility and removed the minimum interest coverage ratio covenant.
  Negative

  • U.S. government expects 15% of revenue from licensed AMD Instinct MI308 sales to China; no regulation published yet.
  • China's Decree 835 expands powers to restrict foreign companies complying with U.S. export controls, creating legal conflict risk.
  • International sales dropped to 70% of net revenue in Q2 2026 from 74% in Q1 2026, a 4-point decline in one quarter.

What changed: Jun 2026 vs. Mar 2026

About 8% of AMD's Jun 2026 10-Q is new information. 31 paragraphs were added, 117 changed, and 53 removed. Below are the most important lines SECSift identified.

• Item 1 45
• Item 2 43
• Item 1A 25
• Item 6 5
• Item 4 2
• Item 3 1
• Item 5 1