AMD의 3분기 실적 발표에서는 강력한 AI 수요가 부각되었으며, 2027년 성장 전망도 제시되었다.

Advanced Micro Devices, Inc. (AMD) outlined an accelerated growth trajectory during its third-quarter 2026 earnings call, supported by expanding AI infrastructure deployments, stronger server processor demand and increasing customer commitments.

Management raised its 2027 growth expectations while highlighting supply constraints, evolving product mix and weakness in the PC market. The discussion centered on scaling next-generation data center platforms, sustaining operating leverage and securing capacity for future expansion.

AMD reported adjusted earnings of $2.09 per share, exceeding the Zacks Consensus Estimate of $1.94. Revenues of $13.38 billion also surpassed the Zacks Consensus Estimate of $13.13 billion by 1.90%.

AMD Sees Accelerating Data Center Demand

Chair and CEO Lisa Su emphasized that data center growth remains the company's primary expansion driver. Segment revenues surged 97% year over year to $8.5 billion, supported by record EPYC processor and Instinct accelerator sales.

Data center revenues represented 64% of total sales, compared with 47% a year earlier. Su highlighted accelerating adoption across cloud infrastructure, enterprise computing and AI inference workloads.

Management expects full-year 2026 data center revenues to more than double from 2025. Expanding deployments of Helios systems and Venice processors underpin that outlook.

AMD Raises Its 2027 Growth Expectations

Su projected companywide revenue growth exceeding 80% in 2027, substantially above AMD's previously outlined long-term growth model.

Management now expects server revenues to approximately double year over year, compared with its earlier projection of growth exceeding 70%. Data center AI revenues are expected to expand even faster than previously anticipated.

During the earnings call, Su indicated that data center operations should account for more than 80% of total revenues in 2027. She attributed stronger visibility to expanded customer deployment plans and additional secured supply.

AMD Faces Supply Constraints Amid Rising Orders

During the analyst Q&A, Barclays questioned whether manufacturing capacity could support AMD's ambitious 2027 expansion.

Su acknowledged that customer demand currently exceeds available supply. She emphasized ongoing coordination with suppliers to secure wafers, advanced packaging, substrates and memory components.