What it does
AMD states that it develops high-performance and AI computing products for cloud and AI infrastructure, embedded systems, AI PCs and gaming. Its portfolio includes CPUs, GPUs, AI accelerators, DPUs, AI network interface cards, FPGAs, adaptive SoCs and APUs, alongside networking and software. The company says it provides data-center products and rack-scale platform designs; client processors and chipsets for desktops and notebooks; graphics and semi-custom products for gaming; and embedded computing products for markets including automotive, industrial, healthcare, storage and networking. It also develops software tools, compilers and drivers for its hardware.
Source: Advanced Micro Devices, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov
How it makes money
The filing lists three reportable segments: Data Center, Client and Gaming, and Embedded. Data Center primarily sells AI accelerators, server CPUs, GPUs, APUs, DPUs, AI NICs, FPGAs and SoC products. Client and Gaming includes PC CPUs, APUs and chipsets, discrete GPUs, semi-custom SoCs and development services. Embedded sells embedded CPUs, APUs, FPGAs, system-on-modules and adaptive SoCs. The segment table below provides the revenue detail: Data Center represented 48.0% of FY2025 revenue and Client and Gaming represented 42.0%. The company also may sell or license portions of its IP portfolio.
| Segment | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| Datacenter | $16.6 billion | 48.0% | 32.2% |
| Client and Gaming | $14.6 billion | 42.0% | 50.8% |
| Embedded | $3.5 billion | 9.97% | −2.90% |
Source: Advanced Micro Devices, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov
Customers and geography
AMD states that it sells through a direct sales force, OEMs, independent distributors and sales representatives in domestic and international markets. Data Center customers primarily include hyperscale data centers, OEMs, ODMs, system integrators and distributors. Client and Gaming customers include PC OEMs, distributors, add-in-board makers and game-console and portable-gaming-device manufacturers. Embedded products are sold directly or through distributors and OEM partners. The geography table shows $11.4 billion of FY2025 revenue in the United States and $7.8 billion in China; the United States accounted for 32.8% and China for 22.4% of revenue.
| Region | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| UNITED STATES | $11.4 billion | 32.8% | 30.7% |
| CHINA | $7.8 billion | 22.4% | 24.4% |
| Other Countries | $6.1 billion | 17.5% | 53.4% |
| TAIWAN | $5.2 billion | 15.0% | 57.1% |
| SINGAPORE | $4.3 billion | 12.4% | 18.5% |
Source: Advanced Micro Devices, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov
Competition
The company states that its markets are highly competitive and rapidly evolving. In Data Center, the filing names Intel Corporation and Nvidia Corporation as primary competitors for CPU, GPU, DPU and AI NIC server products, and Altera for FPGA and adaptive SoC server products. In Client and Gaming, it identifies Intel as its primary CPU and APU competitor, and Nvidia and Intel in discrete graphics. For Embedded, the filing names Altera, Lattice Semiconductor Corporation, Microsemi Corporation, Broadcom Corporation, Marvell Technology Group, Ltd., Analog Devices, Texas Instruments Incorporated, NXP Semiconductors N.V., Qualcomm Incorporated and NVIDIA, among others.
Source: Advanced Micro Devices, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov
Key risks
The filing’s risk-factor summary identifies these principal risks:
- The markets in which AMD products are sold are highly competitive and rapidly evolving.
- AMD relies on third parties to manufacture its products; timely, sufficient production using competitive technologies may be affected.
- Government actions and regulations, including export regulations, import tariffs and trade protection measures, may limit product exports to certain customers.
- Acquisitions, joint ventures and investments, or failure to integrate acquired businesses, may not deliver anticipated benefits and could disrupt the business.
- Worldwide operations are subject to political, legal and economic risks and natural disasters.
Source: Advanced Micro Devices, Inc. Form 10-K for fiscal 2025, Item 1A — sec.gov
People and operations
As of December 27, 2025, AMD had approximately 31,000 employees in its global workforce. The company states that product and system R&D occurs in the United States, with additional engineering teams in various countries working under direction from its U.S. headquarters. AMD uses third-party wafer foundries, including TSMC for HPC, FPGA and adaptive SoC wafers, and GF for specified HPC wafer purchases. Assembly, test, mark and packaging are performed by partners and subcontractors in the Asia-Pacific region. The filing states that operating results tend to vary seasonally, with net revenue historically generally higher in the second half of the year.
Source: Advanced Micro Devices, Inc. Form 10-K for fiscal 2025, Item 1 — sec.gov