Atlas Research Note

AMD Q3 2026 Earnings Note: The Shift to a Data Center Compute Company

Ben Bajarin · November 4, 2026

AMD is now a data center compute company in both scale and mix. The next phase is a supply problem: securing enough wafers, advanced packaging, substrates, and memory to ship Instinct and EPYC at the pace customers are asking for. Operating view: Data Center was 64% of AMD's revenue in the third quarter and should be more than 80% in 2027.

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Notes

AMD Q3 2026 Earnings Note: The Shift to a Data Center Compute Company

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