[Diary Point, reporter Kim Jung-hoon] AMD reported third-quarter 2026 revenue of $13.377 billion on November 3, up 45% from a year earlier. Data center revenue reached $8.546 billion, a 97% increase, and total quarterly revenue set a company record.
Growth was driven by AI accelerators and server central processing units (CPUs). AMD's data center segment includes not only AI accelerators but also server CPUs, networking, and adaptive semiconductors. The 97% growth therefore should not be attributed solely to GPU sales or compared directly with revenue growth at South Korean memory makers.
AI infrastructure dominates the results
AMD said data center growth was supported by demand for its EPYC server CPUs and the launch of its Instinct MI450 GPU. For the fourth quarter, it guided to total revenue of about $17 billion, with a margin of error of ±3%. At the midpoint, that implies growth of roughly 66% from a year earlier and about 27% from the previous quarter. However, the outlook covers total revenue only. AMD did not provide a separate data center revenue forecast for the fourth quarter.
Consumer PC and gaming trends were different. Client and gaming segment revenue was $3.722 billion, down 8% from a year earlier. Breaking it down, client PC revenue rose 7%, while gaming revenue fell 40% due to lower semiconductor design and graphics product sales. Strong AI server demand does not mean it is also lifting sales of PC and gaming products.
For South Korean chipmakers, watch HBM4 and server memory
AMD's results signal that investment in AI data centers is translating into actual chip sales. Rather than applying these numbers directly to Samsung Electronics or SK hynix, South Korean chip investors should check whether HBM shipments, server DDR5 sales, and memory pricing and supply expansion are moving together. AMD's announcement did not disclose supply volumes for individual Korean suppliers or any specific memory supply contracts.
SK hynix said on October 28, when it announced third-quarter results, that HBM4 would surpass HBM3E in both fourth-quarter shipments and revenue to become its main product. Samsung Electronics also reported record quarterly revenue and operating profit for its memory business in the third quarter, and outlined plans to expand HBM4 and high-performance DDR5 sales in the fourth quarter. Both companies' announcements provide a benchmark for judging whether AI memory demand is showing up in South Korean firms' earnings.
The indicators to watch are whether AMD's data center revenue growth continues in the fourth quarter, and whether HBM4 shipments and server memory sales from South Korean companies support it. AMD's overall revenue outlook alone cannot determine the size of AI accelerator demand or the benefit to Korean suppliers. Next quarter, product-level growth and memory supply conditions are expected to become clearer alongside revenue.