AMD Posts Record Q2, But SpaceX Drops Chips and Guidance Disappoints
AMD has more than doubled off its 52-week low of $149.22.
Summary
AMD reported record Q2 revenue of $11.5B, up 50% YoY, with Data Center doubling, but shares fell 8.9% after hours on Q3 guidance of $13B, below the $14B consensus. The drop was compounded by SpaceX announcing it will stop buying AMD chips and switch to Nvidia, a high-profile customer loss. On the positive side, AMD launched Helios AI servers combining GPUs, CPUs, and networking, with shipments to Meta and OpenAI this quarter, and teased a rack-scale system for 2027. The SpaceX defection is a fresh blow to AI momentum, overshadowing the record quarter and new product launches. The after-hours move reflects a reset of expectations, with the stock now pricing in both the guidance miss and competitive pressure in AI compute. The stock slump extended to 10% despite the Q2 double beat, with blame placed on SpaceX and Elon Musk.
At the time of this announcement, AMD was trading at $472.94 on NASDAQ in the Technology sector, with a market capitalization of approximately $845.6B. The 52-week trading range was $149.22 to $584.73. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Wiseek News.