AMD Records Revenue Peak Even as Shares Fall on AI Growth Bets

Advanced Micro Devices posted a record quarterly revenue of about $11.54 billion, led by a data-center business that more than doubled to $6.7 billion (58% of total sales), with Client revenue up 23% to $3.1 billion and Gaming down 31% to $779 million. R&D spending rose 33% to $2.53 billion and GAAP operating margin returned to 17% after prior distortions; management guided roughly $13 billion in Q3 revenue (±$300 million). Despite the strong numbers, the stock fell about 6.9% as investors priced in continued AI-driven growth, amid inventories rising to $8.47 billion as chips move through the pipeline.