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AMD Beats Q2 Forecast, Announces AI Chip Partnership

8/5/2026

Summary

AMD Beats Estimates

AMD reported second-quarter revenue of $11.54 billion, beating the Wall Street estimate of $11.28 billion.
Adjusted earnings rose to $1.66 per share, surpassing analysts’ expectation of $1.61.
CEO Lisa Su said demand for AI infrastructure is accelerating.
She added that the Helios rack-scale AI system entered full production, with shipments expected by the end of the third quarter.
AMD announced a partnership with Anthropic to deploy up to 2 gigawatts of MI450 GPUs.

Summary

AMD Secures AI

AMD’s reliance on TSMC’s limited advanced-packaging capacity creates a supply bottleneck that could delay broader Helios deployments.
The Anthropic agreement will provide AI servers worth multi-billion dollars, up to 2 GW of MI450 chips from early 2027, and includes up to $5 billion in contingent investment.
A Core Scientific contract secures up to 2.5 GW of data-center capacity for AMD’s AI hardware and grants the provider stock warrants.

Summary

AMD Options Outlook

The options market expects an implied ±10.09% post-earnings move for AMD, above the historical ±8.34% average.
Implied volatility is 82.89%, just below the historic 83.84% level, with IV Rank 79 and IV Percentile 93.
The implied price range from the $484.64 pre-earnings level is $435.74–$533.54.
Analysts warn that options buyers could lose money if AMD trades within the range, while volatility sellers face gap risk.

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AMD Beats Estimates

AMD reported second-quarter revenue of $11.54 billion, beating the Wall Street estimate of $11.28 billion.
Adjusted earnings rose to $1.66 per share, surpassing analysts’ expectation of $1.61.
CEO Lisa Su said demand for AI infrastructure is accelerating.
She added that the Helios rack-scale AI system entered full production, with shipments expected by the end of the third quarter.
AMD announced a partnership with Anthropic to deploy up to 2 gigawatts of MI450 GPUs.

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