Lisa Su

Speaking in Korea on cooperation with Samsung and SK hynix, Lisa Su said AMD had already begun shipping its next-generation MI455X accelerators and Helios rack-scale systems. It is the first statement that the generation behind the OpenAI, Meta and Anthropic gigawatt agreements has started to leave the factory, rather than being tested or scheduled.

Lisa Su said she would attend the state dinner scheduled for the following night. She said technology leaders would seek stability across the technology ecosystem.

Second-quarter 2026 results showed revenue of US$11.5 billion and data center segment revenue of US$6.7 billion, up 107 percent from a year earlier on demand for EPYC CPUs and Instinct GPUs. Lisa Su said Instinct deployments were scaling and Helios was beginning to ramp.

AMD launched the Instinct MI400 series, with the MI455X in Helios racks for frontier AI and the MI430X for sovereign AI and HPC, and named OpenAI, Anthropic, Meta, Microsoft, Oracle, HUMAIN, Tensorwave, Vultr and Cirrascale among the organisations choosing Helios.

AMD and Anthropic announced a partnership to deploy up to 2 gigawatts of Instinct MI450 series GPUs in AMD Helios rack-scale systems, with the first gigawatt beginning in the first half of 2027.

At the Great Hall of the People, He Lifeng invited multinationals including AMD to deepen cooperation, citing the outcomes of the May 13 to 15 Xi–Trump summit, and Su said AMD would expand its operations and investment in China. Su had not been part of the executive delegation that travelled with Trump.

Data center AI revenue dipped sequentially in the first quarter, which AMD attributed to lower China revenue after the $390 million MI308 quarter, and CFO Jean Hu said China revenue in the period was not material. AMD did not forecast further China GPU sales, leaving the MI325 licenses as an option rather than a plan.

AMD and Meta agreed a multi-year, multi-generation partnership to deploy up to 6 gigawatts of Instinct GPUs. Shipments for the first gigawatt were expected to begin in the second half of 2026 using a custom GPU based on the MI450 architecture, and AMD issued Meta a performance-based warrant for up to 160 million shares.

AMD's fourth quarter included roughly $390 million of MI308 sales to China that were not in its guidance, filled from orders placed early in 2025, plus the release of about $360 million of the inventory reserves booked in the second quarter. It guided to about $100 million of MI308 revenue in the first quarter of 2026 and nothing beyond, with Su calling China 'a very dynamic situation' and saying MI325 license applications had been submitted.

Over two days in Beijing, Su met MIIT minister Li Lecheng, affirming AMD's commitment to deepening its investment in China, and then Commerce Minister Wang Wentao, whose ministry said the two sides discussed AMD's business development in China and strengthening cooperation. The visit came as MI308 shipments were about to start and as Beijing was steering buyers away from Nvidia's China parts.

Speaking at a Wired conference in San Francisco, Su said AMD had licenses to ship some MI308 chips to China and would pay the 15 percent levy if it shipped them, the company's first direct public acceptance of the arrangement.

AMD set long-term targets of more than 35 percent annual revenue growth, a non-GAAP operating margin above 35 percent and earnings per share above US$20, with data center revenue growing more than 60 percent a year. It said Helios systems with MI450 GPUs would begin delivering in the third quarter of 2026.

AMD reported record revenue with no MI308 shipments to China in the quarter and none assumed for the fourth quarter. On the call Su said the company had received some MI308 licenses and thanked the administration, but called the situation too dynamic to forecast, with customer demand and China's own import stance still unclear.

AMD and OpenAI announced a multi-year agreement under which OpenAI will deploy 6 gigawatts of AMD Instinct GPUs across generations, starting with 1 gigawatt of MI450 GPUs in the second half of 2026. AMD issued OpenAI a warrant for up to 160 million shares at US$0.01 that vests with deployment milestones and AMD share-price targets.

AMD booked roughly $800 million of inventory and related charges for the MI308, cutting non-GAAP gross margin to 43 percent from about 54 percent otherwise. Data center revenue still grew 14 percent on EPYC demand, and the company excluded any MI308 revenue from its third-quarter guidance while the licenses were under review.

At Advancing AI 2025 AMD said MI350 series accelerators were already deploying at Oracle Cloud Infrastructure with broad availability in the second half of 2025, and previewed Helios, a rack-scale system built on the coming MI400 series GPUs, Zen 6 EPYC "Venice" CPUs and Pensando "Vulcano" NICs.

Reporting first-quarter results, CFO Jean Hu said the export license requirement removed an estimated $700 million from second-quarter revenue and about $1.5 billion for the year, mostly in the second and third quarters. The next morning Su told CNBC that China was a 'large opportunity' and argued for a balance between national-security controls and the widest possible adoption of US technology.

AMD launched the Instinct MI325X, shared details of the MI350 series expected in the second half of 2025, and said the MI400 series based on CDNA Next remained planned for 2026.

At Computex in Taipei AMD laid out a yearly roadmap for its AI accelerators: the MI325X with 288 GB of HBM3E in the fourth quarter of 2024, the CDNA 4-based MI350 series in 2025, and the MI400 series on a CDNA "Next" architecture in 2026.

Lisa Su met Chinese Commerce Minister Wang Wentao in Beijing to discuss China-U.S. trade relations and AMD's development in China. Su said China was one of AMD's global strategic priorities and that AMD would increase investment and work with local partners.

At Advancing AI 2023 AMD announced availability of the MI300X accelerator and the MI300A APU. Microsoft announced Azure virtual machines built on MI300X, Oracle Cloud planned MI300X offerings, and Dell, HPE, Lenovo and Supermicro showed systems using the parts.

On the second-quarter 2023 call, as AMD prepared to ramp the MI300, Su said the company would be fully compliant with US export controls but saw an opportunity to develop an accelerator specifically for Chinese customers, following Nvidia's A800 and H800 and Intel's Gaudi variant. That product became the MI308.

At its Data Center and AI Technology Premiere AMD introduced the MI300X, a GPU-only version of the MI300 family built on the CDNA 3 architecture with up to 192 GB of HBM3 memory, aimed at large language model training and inference, and said it would sample to key customers from the third quarter.