On November 4th, AMD's US stock price rose by nearly 8% before the market opened, as the previously announced third-quarter earnings and fourth-quarter revenue guidance both exceeded market expectations.

Financial reports show that AMD's revenue in the third quarter increased by 45% year-on-year to $13.38 billion, exceeding the market's expectation of $13.06 billion; the adjusted earnings per share were $2.09, which is higher than the expected $1.94. Among them, data center business revenue nearly doubled to a record $8.55 billion, becoming the main driving force behind the performance growth.

Looking ahead to the fourth quarter, AMD expects revenue of approximately $17 billion, with a fluctuation of 3% up and down, which is higher than the market's forecast of $16.23 billion. Based on the median of the guidance, fourth-quarter revenue is expected to grow by about 66% year-over-year and by about 27% quarter-over-quarter. Su Zifeng, the CEO of AMD, stated that market demand for Instinct AI chips and EPYC server processors continues to increase, and with the expansion of production scale for Helios and Venice products, growth is expected to accelerate further in the fourth quarter.

In addition, AMD has raised its revenue growth forecast for the server CPU in 2027 to over 100%. Analysts from Baird believe that this guidance reflects that AMD is continuing to expand its market share in server processors.

Prior to this earnings announcement, the stock price of AMD had fallen by 17.5% in October, while the Philadelphia Semiconductor Index fell by 15.4% during the same period. Concerns about whether technology companies' large-scale borrowing to build AI infrastructure and related investments will generate corresponding returns continue to put pressure on AI-related stocks.