AMD reported record second-quarter revenue of $11.5 billion, up 50% year over year, with net income of $2.3 billion, per the company. Data Center revenue rose 107% to $6.7 billion and now accounts for 58% of total revenue. AMD launched the Instinct MI400 series, including the MI455X for large-scale training and inference and the MI430X aimed at HPC and sovereign AI, and announced a partnership with Anthropic to deploy up to 2 gigawatts of MI450 GPUs in AMD Helios racks.
The number that matters is Data Center at 58% of the company. AMD has been a CPU business with an accelerator ambition for years, and this is the quarter the mix flipped. Doubling data center revenue while Nvidia still holds the majority of the market means AMD is taking incremental sockets rather than waiting for Nvidia to stumble, and the MI400 launch keeps it on the annual cadence the frontier buyers now expect. The Anthropic agreement is the strongest validation in the release, because a frontier lab committing to 2 gigawatts of MI450 is a lab betting its training and inference roadmap on non-Nvidia silicon at scale.
This also explains the Core Scientific deal from last week, where AMD locked up as much as 2.5 gigawatts of data center capacity and took warrants in the operator. Selling accelerators at this rate requires somewhere to plug them in, and AMD is buying that capacity ahead of demand. The constraint on AMD's next few quarters is the same one facing everyone else: HBM supply and advanced packaging, the shortage that just produced record profits at Samsung and a capex increase at Amazon. AMD's ability to keep doubling depends less on design wins now and more on how much memory and packaging it can secure.
Bottom Line
Data Center at 58% of revenue means AMD is now an AI accelerator company that also sells CPUs. Watch HBM and packaging allocation, because that, not demand, is what caps the next few quarters.