# EDGAR Filing Document

**Accession Number:** 0000002488
**File Stem:** 0000002488-26-000014
**Filing Date:** 2026-2
**Character Count:** 82055
**Document Hash:** 43983bcac563281631007e675f13085a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000002488-26-000014.hdr.sgml**: 20260203

**ACCESSION NUMBER**: 0000002488-26-000014

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 50

**CONFORMED PERIOD OF REPORT**: 20260203

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260203

**DATE AS OF CHANGE**: 20260203

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ADVANCED MICRO DEVICES INC
- **CENTRAL INDEX KEY:** 0000002488
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 941692300
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1227

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-07882
- **FILM NUMBER:** 26593165

**BUSINESS ADDRESS:**
- **STREET 1:** 2485 AUGUSTINE DRIVE
- **CITY:** SANTA CLARA
- **STATE:** CA
- **ZIP:** 95054
- **BUSINESS PHONE:** (408) 749-4000

**MAIL ADDRESS:**
- **STREET 1:** 2485 AUGUSTINE DRIVE
- **CITY:** SANTA CLARA
- **STATE:** CA
- **ZIP:** 95054

?xml version='1.0' encoding='ASCII'? amd-20260203

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**February 3, 2026** 

**Date of Report (Date of earliest event reported)**

![amdlogo.jpg](amd-20260203_g1.jpg)

**ADVANCED MICRO DEVICES, INC.** 

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-07882** | **94-1692300** |
| **(State or Other Jurisdiction of**<br>**Incorporation)** | **(Commission**<br>**File Number)** | **(IRS Employer**<br>**Identification No.)** |

---

**2485 Augustine Drive** 

**Santa Clara, California 95054** 

**(Address of principal executive offices) (Zip Code)**

**(408) 749-4000** 

**(Registrant's telephone number, including area code)**

**N/A**

**(Former Name or Former Address, if Changed Since Last Report)**

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $0.01 par value | AMD | The Nasdaq Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**<u>Item 2.02 Results of Operations and Financial Condition.</u>**

On February 3, 2026, Advanced Micro Devices, Inc. ("AMD") announced its financial position and results of operations as of and for its fiscal quarter and fiscal year ended December 27, 2025 in a press release that is attached hereto as Exhibit 99.1. Attached hereto as Exhibit 99.2 is a presentation regarding AMD's fiscal quarter and fiscal year ended December 27, 2025.

The attached Exhibits 99.1 and 99.2, in addition to financial results presented on a U.S. Generally Accepted Accounting Principles ("GAAP") basis, contains certain non-GAAP financial information and forward-looking financial guidance. Certain of these non-GAAP financial measures will be used in AMD's earnings conference call. A reconciliation of these non-GAAP financial measures to their nearest GAAP equivalents is provided in the data tables at the end of the attached Exhibits 99.1 and 99.2. These non-GAAP financial measures should be viewed in addition to and not as a substitute for or superior to AMD's reported results prepared in accordance with GAAP.

The information in this report furnished pursuant to Items 2.02 and 7.01, including Exhibits 99.1 and 99.2 attached hereto, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, if such subsequent filing specifically references the information furnished pursuant to Items 2.02 and 7.01 of this report.

**<u>Item 7.01 Regulation FD Disclosure.</u>**

The information set forth under Item 2.02 "Results of Operations and Financial Condition" is incorporated into this Item 7.01 by reference.

**<u>Item 9.01 Financial Statements and Exhibits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;***(d) Exhibits.***

---

| | |
|:---|:---|
| EXHIBIT INDEX | EXHIBIT INDEX |
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press release dated February](q42025991.htm)[3, 2026](q42025991.htm)</u> |
| 99.2 | <u>[Fourth Quarter and FY 2025 Financial Results Presentation](amdq425earningsslidesfin.htm)</u> |
| 104 | Inline XBRL for the cover page of this Current Report on Form 8-K |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: February 3, 2026 | **ADVANCED MICRO DEVICES, INC.** | **ADVANCED MICRO DEVICES, INC.** |
|  | **By:** | */s/ Jean Hu* |
|  | **Name:** | **Jean Hu** |
|  | **Title:** | **Executive Vice President, Chief Financial Officer & Treasurer** |

---

## Exhibit 99.1

![image20a.jpg](image20a.jpg)

***NEWS RELEASE***

**Media Contact:**

**Phil Hughes**

AMD Communications

512-865-9697

<u>phil.hughes@amd.com</u>

**Investor Contact:**

**Liz Stine**

AMD Investor Relations

720-652-3965

<u>liz.stine@amd.com</u>

**AMD Reports Fourth Quarter and Full Year 2025 Financial Results**

**SANTA CLARA, Calif. ― February 3, 2026 ―** AMD (NASDAQ:AMD) today announced financial results for the fourth quarter and full year of 2025. Fourth quarter revenue was a record $10.3 billion, gross margin was 54%, operating income was $1.8 billion, net income was $1.5 billion and diluted earnings per share was $0.92. On a non-GAAP<sup>(\*)</sup> basis, gross margin was 57%, operating income was a record $2.9 billion, net income was a record $2.5 billion and diluted earnings per share was a record $1.53.

For the full year 2025, AMD reported record revenue of $34.6 billion, gross margin of 50%, operating income of $3.7 billion, net income of $4.3 billion, and diluted earnings per share of $2.65. On a non-GAAP<sup>(\*)</sup> basis, gross margin was 52%, operating income was a record $7.8 billion, net income was a record $6.8 billion and diluted earnings per share was a record $4.17.

"2025 was a defining year for AMD, with record revenue and earnings driven by strong execution and broad-based demand for our high-performance and AI platforms," said Dr. Lisa Su, AMD chair and CEO. "We are entering 2026 with strong momentum across our business, led by accelerating adoption of our high-performance EPYC and Ryzen CPUs and the rapid scaling of our data center AI franchise."

"Our record fourth quarter and full-year results demonstrate AMD's ability to deliver profitable growth at scale," said Jean Hu, AMD executive vice president, CFO and treasurer. "We achieved record non-GAAP operating income and free cash flow, while increasing our strategic investments to support long-term growth across our high-performance and adaptive computing product portfolio."

------

**GAAP Quarterly Financial Results**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Q4 2025** | **Q4 2024** | **Y/Y** | **Q3 2025** | **Q/Q** |
| Revenue ($M) | $10270 | $7658 | Up 34% | $9246 | Up 11% |
| Gross profit ($M) | $5577 | $3882 | Up 44% | $4780 | Up 17% |
| Gross margin | 54% | 51% | Up 3 ppts | 52% | Up 2 ppts |
| Operating expenses ($M) | $3825 | $3011 | Up 27% | $3510 | Up 9% |
| Operating income ($M) | $1752 | $871 | Up 101% | $1270 | Up 38% |
| Operating margin | 17% | 11% | Up 6 ppts | 14% | Up 3 ppts |
| Net income ($M) | $1511 | $482 | Up 213% | $1243 | Up 22% |
| Diluted earnings per share | $0.92 | $0.29 | Up 217% | $0.75 | Up 23% |

---

**Non-GAAP(\*) Quarterly Financial Results**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Q4 2025** | **Q4 2024** | **Y/Y** | **Q3 2025** | **Q/Q** |
| Revenue ($M) | $10270 | $7658 | Up 34% | $9246 | Up 11% |
| Gross profit ($M) | $5855 | $4140 | Up 41% | $4992 | Up 17% |
| Gross margin | 57% | 54% | Up 3 ppts | 54% | Up 3 ppts |
| Operating expenses ($M) | $3001 | $2114 | Up 42% | $2754 | Up 9% |
| Operating income ($M) | $2854 | $2026 | Up 41% | $2238 | Up 28% |
| Operating margin | 28% | 26% | Up 2 ppts | 24% | Up 4 ppts |
| Net income ($M) | $2519 | $1777 | Up 42% | $1965 | Up 28% |
| Diluted earnings per share | $1.53 | $1.09 | Up 40% | $1.20 | Up 28% |

---

**Annual Financial Results**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **GAAP** | **GAAP** | **GAAP** | **Non-GAAP**<sup>(\*)</sup> | **Non-GAAP**<sup>(\*)</sup> | **Non-GAAP**<sup>(\*)</sup> |
| | **2025** <sup>(1)</sup> | **2024** | **Y/Y** | **2025** <sup>(1)</sup> | **2024** | **Y/Y** |
| Revenue ($M) | $34639 | $25785 | Up 34% | $34639 | $25785 | Up 34% |
| Gross profit ($M) | $17152 | $12725 | Up 35% | $18165 | $13759 | Up 32% |
| Gross margin % | 50% | 49% | Up 1 ppt | 52% | 53% | Down 1 ppt |
| Operating expenses ($M) | $13458 | $10825 | Up 24% | $10397 | $7621 | Up 36% |
| Operating income ($M) | $3694 | $1900 | Up 94% | $7768 | $6138 | Up 27% |
| Operating margin % | 11% | 7% | Up 4 ppts | 22% | 24% | Down 2 ppts |
| Net income ($M) | $4335 | $1641 | Up 164% | $6831 | $5420 | Up 26% |
| Diluted earnings per share | $2.65 | $1.00 | Up 165% | $4.17 | $3.31 | Up 26% |

---

(1) Full year 2025 results included approximately $440 million in net inventory and related charges as a result of the U.S. Government's export control on AMD Instinct™ MI308 data center GPU products.

In the fourth quarter, AMD benefited from an approximate $360 million release of previously reserved AMD Instinct™ MI308 inventory and related charges. Fourth quarter AMD Instinct MI308 revenue to China was approximately $390 million. Excluding the inventory reserve reversal and AMD Instinct MI308 sales to China, fourth quarter non-GAAP gross margin would have been approximately 55%.

------

**Segment Summary**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Data Center segment revenue in the quarter was a record $5.4 billion, up 39% year-over-year, driven by strong demand for AMD EPYC™ processors and the continued ramp of AMD Instinct GPU shipments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ For the full year 2025, Data Center segment revenue was a record $16.6 billion, up 32% year-over-year, reflecting growth across both EPYC CPUs and AMD Instinct GPUs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Client and Gaming segment revenue in the quarter was $3.9 billion, up 37% year-over-year. Client business revenue in the quarter was a record $3.1 billion, up 34% year-over-year, driven primarily by strong demand for leadership AMD Ryzen™ processors and continued market share gains. Gaming business revenue in the quarter was $843 million, up 50% year-over-year, primarily driven by higher semi-custom revenue and strong demand for AMD Radeon™ GPUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ For the full year 2025, Client and Gaming segment revenue was a record $14.6 billion, up 51% year-over-year. Client business revenue was a record $10.6 billion, up 51% year-over-year, driven by continued revenue share gains and a richer product mix. Gaming business revenue was $3.9 billion, up 51% year-over-year, driven by improved semi-custom sales and strong demand for AMD Radeon GPUs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Embedded segment revenue in the quarter was $950 million, up 3% year-over-year, as demand strengthened across several end markets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ For the full year 2025, Embedded segment revenue was $3.5 billion, down 3% year-over-year, reflecting the impact of customer inventory level adjustments earlier in the year.

**Recent PR Highlights** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• At CES 2026, AMD detailed how deep cross-industry collaborations and full-stack AI solutions are driving AI advances, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ An early look at the AMD Helios rack-scale platform, the blueprint for yotta-scale AI infrastructure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Announcing the AMD Instinct MI440X GPU for enterprise AI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ New AMD Ryzen AI 400 and PRO 400 Series platforms, Ryzen AI Max+ SKUs and the AMD Ryzen AI Halo developer platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ New AMD Ryzen AI Embedded Processor portfolio, designed to power AI-driven applications across automotive, industrial automation and physical AI.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ AMD, Cisco and HUMAIN announced plans to form a joint venture to deliver 1 GW of AI infrastructure by 2030.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ AMD announced a strategic partnership with Tata Consultancy Services to co-develop and deploy enterprise AI solutions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Zyphra's ZAYA1 is the first large-scale mixture-of-experts model trained entirely on AMD Instinct MI300X GPUs, AMD Pensando™ networking and AMD ROCm™ open software.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AMD delivered new capabilities for the most demanding PC and gaming workloads with:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ AMD FSR™ "Redstone," a suite of new machine-learning based features delivering more immersive visuals for AMD Radeon graphics cards, including AMD FSR Upscaling, Frame Generation, Ray Regeneration and Radiance Caching.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• AMD expanded its embedded processor portfolio, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ New additions to the AMD space-grade portfolio; the AMD Versal™ RF Series and Versal AI Edge Series Gen 2 adaptive SoCs for extreme space environments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ New AMD EPYC Embedded 2005 Series processors delivering enhanced performance, efficiency and high-speed connectivity for networking, storage and industrial applications.

------

**Current Outlook**

AMD's outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under "Cautionary Statement" below.

For the first quarter of 2026, AMD expects revenue to be approximately $9.8 billion, plus or minus $300 million, including approximately $100 million of AMD Instinct MI308 sales to China. The mid-point of the revenue range represents year-over-year growth of approximately 32% and a sequential decline of approximately 5%. Non-GAAP gross margin is expected to be approximately 55%.

**AMD Teleconference**

AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its fourth quarter and full year 2025 financial results. AMD will provide a real-time audio broadcast of the teleconference on the <u>Investor Relations</u> page of its website at <u>www.amd.com</u>.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES** | **RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES** | **RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES** | **RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES** | | |
| **(in millions, except per share data) (Unaudited)** | | | | | |
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| | **December 27,<br>2025** | **September 27,<br>2025** | **December 28,<br>2024** | **December 27,<br>2025** | **December 28,<br>2024** |
| **GAAP gross profit** | $**5577** | $**4780** | $**3882** | $**17152** | $**12725** |
| &nbsp;&nbsp;&nbsp;&nbsp;**GAAP gross margin** | ***54*** *%*** | ***52*** *%*** | ***51*** *%*** | ***50*** *%*** | ***49*** *%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 8 | 7 | 6 | 26 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 260 | 260 | 252 | 1031 | 946 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs <sup>(1)</sup> | 1 |  |  | 2 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer <sup>(2)</sup> |  | (67) |  | (67) | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss contingency on legal matter | 9 | 12 |  | 21 |  |
| **Non-GAAP gross profit** | $**5855** | $**4992** | $**4140** | $**18165** | $**13759** |
| &nbsp;&nbsp;&nbsp;&nbsp;***Non-GAAP gross margin*** | ***57*** *%*** | ***54*** *%*** | **54%** | **52%** | **53%** |
| **GAAP operating expenses** <sup>(3)</sup> | $**3825** | $**3510** | $**3011** | $**13458** | $**10825** |
| &nbsp;&nbsp;&nbsp;&nbsp;**GAAP operating expenses/revenue %** | ***37*** *%*** | ***38*** *%*** | ***39*** *%*** | ***39*** *%*** | ***42*** *%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 478 | 412 | 333 | 1612 | 1385 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 297 | 302 | 332 | 1223 | 1448 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs <sup>(1)</sup> | 49 | 42 | 46 | 226 | 185 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges <sup>(4)</sup> |  |  | 186 |  | 186 |
| **Non-GAAP operating expenses** <sup>(3)</sup> | $**3001** | $**2754** | $**2114** | $**10397** | $**7621** |
| &nbsp;&nbsp;&nbsp;&nbsp;***Non-GAAP operating expenses/revenue %*** | ***29*** *%*** | ***30*** *%*** | ***28*** *%*** | ***30*** *%*** | ***30*** *%*** |
| **GAAP operating income** | $**1752** | $**1270** | $**871** | $**3694** | $**1900** |
| &nbsp;&nbsp;&nbsp;&nbsp;**GAAP operating margin** | ***17*** *%*** | ***14*** *%*** | ***11*** *%*** | ***11*** *%*** | ***7*** *%*** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 486 | 419 | 339 | 1638 | 1407 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 557 | 562 | 584 | 2254 | 2394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs <sup>(1)</sup> | 50 | 42 | 46 | 228 | 186 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer <sup>(2)</sup> |  | (67) |  | (67) | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss contingency on legal matter | 9 | 12 |  | 21 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges <sup>(4)</sup> |  |  | 186 |  | 186 |
| **Non-GAAP operating income** | $**2854** | $**2238** | $**2026** | $**7768** | $**6138** |
| &nbsp;&nbsp;&nbsp;&nbsp;***Non-GAAP operating margin*** | ***28*** *%*** | ***24*** *%*** | ***26*** *%*** | ***22*** *%*** | ***24*** *%*** |

---

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
| | **December 27,<br>2025** | **December 27,<br>2025** | **September 27, 2025** | **September 27, 2025** | **December 28,<br>2024** | **December 28,<br>2024** | **December 27,<br>2025** | **December 27,<br>2025** | **December 28,<br>2024** | **December 28,<br>2024** |
| **GAAP net income / earnings per share** | $**1511** | $**0.92** | $**1243** | $**0.75** | $**482** | $**0.29** | $**4335** | $**2.65** | $**1641** | $**1.00** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 486 | 0.29 | 419 | 0.26 | 339 | 0.21 | 1638 | 1.00 | 1407 | 0.86 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 557 | 0.34 | 562 | 0.34 | 584 | 0.36 | 2254 | 1.38 | 2394 | 1.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs <sup>(1)</sup> | 50 | 0.03 | 43 | 0.03 | 46 | 0.03 | 231 | 0.14 | 187 | 0.11 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer <sup>(2)</sup> |  |  | (67) | (0.04) |  |  | (67) | (0.04) | 65 | 0.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss contingency on legal matter | 9 | 0.01 | 12 | 0.01 |  |  | 21 | 0.01 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gains on long-term investments, net | (280) | (0.17) | (26) | (0.02) |  |  | (365) | (0.22) | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity income in investee | (1) |  | (10) |  | (12) | (0.01) | (26) | (0.02) | (33) | (0.02) |
| &nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges <sup>(4)</sup> |  |  |  |  | 186 | 0.11 |  |  | 186 | 0.11 |
| &nbsp;&nbsp;&nbsp;&nbsp;Release of reserves for uncertain tax positions <sup>(5)</sup> |  |  |  |  |  |  | (853) | (0.52) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax provision | 78 | 0.04 | (140) | (0.09) | 152 | 0.10 | (271) | (0.17) | (429) | (0.25) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss (Income) from discontinued operations, net of tax <sup>(6)</sup> | 109 | 0.07 | (71) | (0.04) |  |  | (66) | (0.04) |  |  |
| **Non-GAAP net income / earnings per share** | $**2519** | $**1.53** | $**1965** | $**1.20** | $**1777** | $**1.09** | $**6831** | $**4.17** | $**5420** | $**3.31** |

---

(1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges.

(2) Inventory loss at (recovery from) contract manufacturer is related to losses due to an incident at a third-party contract manufacturing facility and the corresponding recovery.

(3) Effective first quarter of 2025, licensing gain is reclassified against Marketing, general and administrative expenses as the amounts were immaterial.

(4) Restructuring charges are related to the 2024 Restructuring Plan which comprised of employee severance charges and non-cash asset impairments.

(5) Release of reserves for uncertain tax positions pertains to the reasonable cause relief related to dual consolidated losses approved by the IRS in the second quarter of 2025.

(6) Loss (Income) from discontinued operations relates to ZT Systems' manufacturing business which was divested in the fourth quarter of 2025.

---

| | |
|:---|:---|
| **RECONCILIATION OF GAAP TO ADJUSTED NON-GAAP FINANCIAL MEASURES** | **RECONCILIATION OF GAAP TO ADJUSTED NON-GAAP FINANCIAL MEASURES** |
| **(Millions) (Unaudited)** | |
| | **Three Months Ended** |
| | **December 27,<br>2025** |
| **GAAP gross profit** | $**5577** |
| &nbsp;&nbsp;***GAAP gross margin*** | ***54*** *%*** |
| &nbsp;&nbsp;&nbsp;Stock-based compensation, amortization of acquisition-related intangibles, acquisition-related and other costs | 278 |
| &nbsp;&nbsp;&nbsp;Impact from the release of inventory and related charges associated with U.S. export restrictions and AMD Instinct MI308 revenue to China | (430) |
| **Adjusted Non-GAAP gross profit** | $**5425** |
| &nbsp;&nbsp;***Adjusted Non-GAAP gross margin*** | ***55*** *%*** |

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**About AMD**

AMD (NASDAQ: AMD) drives innovation in high-performance and AI computing to solve the world's most important challenges. Today, AMD technology powers billions of experiences across cloud and AI infrastructure, embedded systems, AI PCs and gaming. With a broad portfolio of AI-optimized CPUs, GPUs, networking and software, AMD delivers full-stack AI solutions that provide the performance and scalability needed for a new era of intelligent computing. Learn more at www.amd.com.

**Cautionary Statement** 

This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, AMD entering 2026 with strong momentum across its business; the accelerating adoption of high-performance EPYC and Ryzen CPUs and the rapid scaling of the data center AI franchise; the features, functionality, performance, availability, timing and expected benefits of future AMD products; and AMD's expected first quarter 2026 financial outlook, including revenue, expected revenue from AMD Instinct MI308 sales to China and non-GAAP gross margin, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD's products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD's ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD's products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD's products; AMD's reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD's products; AMD's reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD's internal business processes and information systems; compatibility of AMD's products with some or all industry-standard software and hardware; costs related to defective products; failure to maintain an efficient supply chain as customer demand changes; AMD's ability to rely on third party supply-chain logistics functions; AMD's ability to effectively control sales of its products on the gray market; impact of climate change on AMD's business; AMD's ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD's notes, the guarantees of Xilinx's notes and the revolving credit agreement; AMD's ability to satisfy financial obligations under guarantees and other commercial commitments; impact of acquisitions, joint ventures and/or investments on AMD's business and AMD's ability to integrate acquired businesses; impact of any impairment of the combined company's assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD's ability to attract and retain key employees; and AMD's stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD's Securities and Exchange Commission filings, including but not limited to AMD's most recent reports on Forms 10-K and 10-Q.

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| | |
|:---|:---|
| (\*) | In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue percent, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2025, AMD used a non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. Additionally, AMD has provided an adjusted non-GAAP gross profit and gross margin which excludes the impact from the release of inventory and related charges associated with U.S. export restrictions and AMD Instinct<sup>TM</sup> MI308 revenue to China. AMD also provides adjusted EBITDA, free cash flow and free cash flow margin as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD's performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD's reported results prepared in accordance with GAAP and should be read only in conjunction with AMD's Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD's financial outlook, which is based on current expectations as of February 3, 2026, and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law. |

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***©2026 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, 3D V-Cache, Alveo, AMD Instinct, EPYC, FidelityFX, Kria, Radeon, Ryzen, Threadripper, Ultrascale+, Versal, Zynq, and combinations thereof, are trademarks of Advanced Micro Devices, Inc.***

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**ADVANCED MICRO DEVICES, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

**(Millions except per share amounts and percentages) (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| | **December 27,<br>2025** | **September 27,<br>2025** | **December 28,<br>2024** | **December 27,<br>2025** | **December 28,<br>2024** |
| Net revenue | $10270 | $9246 | $7658 | $34639 | $25785 |
| Cost of sales | 4433 | 4206 | 3524 | 16456 | 12114 |
| Amortization of acquisition-related intangibles | 260 | 260 | 252 | 1031 | 946 |
| Total cost of sales | 4693 | 4466 | 3776 | 17487 | 13060 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross profit | 5577 | 4780 | 3882 | 17152 | 12725 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross margin | 54% | 52% | 51% | 50% | 49% |
| Research and development | 2330 | 2139 | 1712 | 8091 | 6456 |
| Marketing, general and administrative | 1198 | 1069 | 781 | 4144 | 2735 |
| Amortization of acquisition-related intangibles | 297 | 302 | 332 | 1223 | 1448 |
| Restructuring charges |  |  | 186 |  | 186 |
| Total operating expenses | 3825 | 3510 | 3011 | 13458 | 10825 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating income | 1752 | 1270 | 871 | 3694 | 1900 |
| Interest expense | (36) | (37) | (19) | (131) | (92) |
| Other income (expense), net | 358 | 82 | 37 | 577 | 181 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income from continuing operations before income taxes and equity income | 2074 | 1315 | 889 | 4140 | 1989 |
| Income tax provision (benefit) | 455 | 153 | 419 | (103) | 381 |
| Equity income in investee | 1 | 10 | 12 | 26 | 33 |
| Income from continuing operations, net of tax | 1620 | 1172 | 482 | 4269 | 1641 |
| (Loss) Income from discontinued operations, net of tax | (109) | 71 |  | 66 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $1511 | $1243 | $482 | $4335 | $1641 |
| Earnings per share: |  |  |  |  |  |
| Earnings from continuing operations - basic | $1.00 | $0.72 | $0.30 | $2.63 | $1.01 |
| Earnings from discontinued operations - basic | $(0.07) | $0.04 | $— | $0.04 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic earnings per share | $0.93 | $0.76 | $0.30 | $2.67 | $1.01 |
| Earnings from continuing operations - diluted | $0.99 | $0.71 | $0.29 | $2.61 | $1.00 |
| Earnings from discontinued operations - diluted | $(0.07) | $0.04 | $— | $0.04 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings per share | $0.92 | $0.75 | $0.29 | $2.65 | $1.00 |
| Shares used in per share calculation |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 1630 | 1626 | 1623 | 1624 | 1620 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 1649 | 1641 | 1634 | 1636 | 1637 |

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**ADVANCED MICRO DEVICES, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(Millions)**

---

| | | |
|:---|:---|:---|
| | **December 27,<br>2025** | **December 28,<br>2024** |
| | (Unaudited) | |
| **ASSETS** |  |  |
| **Current assets:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $5539 | $3787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments | 5013 | 1345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 6315 | 6192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | 7920 | 5734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 2160 | 1991 |
| **Total current assets** | 26947 | 19049 |
| Property and equipment, net | 2312 | 1802 |
| Goodwill | 25126 | 24839 |
| Acquisition-related intangibles, net | 16705 | 18930 |
| Deferred tax assets | 384 | 688 |
| Other non-current assets | 5452 | 3918 |
| **Total Assets** | $76926 | $69226 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| **Current liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | $2929 | $2466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 5250 | 4260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current portion of long-term debt, net | 874 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current liabilities | 402 | 555 |
| **Total current liabilities** | 9455 | 7281 |
| Long-term debt | 2348 | 1721 |
| Long-term operating lease liabilities | 625 | 491 |
| Deferred tax liabilities | 313 | 349 |
| Other long-term liabilities | 1186 | 1816 |
| Stockholders' equity: |  |  |
| Capital stock: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock, par value $0.01 | 17 | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 63365 | 61362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Treasury stock, at cost | (7079) | (6106) |
| Retained earnings | 6699 | 2364 |
| Accumulated other comprehensive loss | (3) | (69) |
| **Total stockholders' equity** | 62999 | 57568 |
| **Total Liabilities and Stockholders' Equity** | $76926 | $69226 |

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**ADVANCED MICRO DEVICES, INC.** 

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS** 

**(Millions) (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| | **December 27, 2025** | **December 28, 2024** | **December 27, 2025** | **December 28, 2024** |
| Cash flows from operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | $1511 | $482 | $4335 | $1641 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Income) loss from discontinued operations, net of tax | 109 |  | (66) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 194 | 172 | 750 | 671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 557 | 583 | 2254 | 2393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 486 | 339 | 1638 | 1407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Gains) losses on long-term investments, net | (280) |  | (341) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 230 | (300) | 248 | (1163) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer |  |  | (67) | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 30 | 93 | 120 | 125 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | (114) | 96 | (121) | (1865) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (610) | (362) | (2189) | (1458) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other assets | 248 | 510 | (11) | 339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | (588) | (571) | 410 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued and other liabilities | 531 | 257 | (467) | 883 |
| Net cash provided by operating activities of continuing operations | 2304 | 1299 | 6493 | 3041 |
| Net cash provided by operating activities of discontinued operations | 296 |  | 1216 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operations | 2600 | 1299 | 7709 | 3041 |
| Cash flows from investing activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (222) | (208) | (974) | (636) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of short-term investments | (3360) | (786) | (5470) | (1493) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from maturity of short-term investments | 783 | 65 | 1765 | 1416 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of short-term investments | 14 | 25 | 80 | 616 |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisitions, net of cash acquired | (44) |  | (1760) | (548) |
| &nbsp;&nbsp;&nbsp;&nbsp;Related party loan and equity method investment |  | (100) |  | (117) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of long-term investments | (70) | (210) | (502) | (341) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 10 |  | 10 | 2 |
| Net cash used in investing activities of continuing operations | (2889) | (1214) | (6851) | (1101) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from divestiture, net of cash divested | 1356 |  | 1356 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (8) |  | (38) |  |
| Net cash provided by investing activities of discontinued operations | 1348 |  | 1318 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (1541) | (1214) | (5533) | (1101) |
| Cash flows from financing activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from debt and commercial paper issuance, net of issuance costs |  |  | 2441 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayment of debt and commercial paper |  |  | (950) | (750) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of common stock through employee equity plans | 116 | 127 | 285 | 279 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchases of common stock |  | (256) | (1316) | (862) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock repurchases for tax withholding on employee equity plans | (160) | (42) | (607) | (728) |
| &nbsp;&nbsp;&nbsp;&nbsp;Settlement of contingent consideration liability | (284) |  | (284) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  |  |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (328) | (171) | (431) | (2062) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 731 | (86) | 1745 | (122) |
| Cash, cash equivalents and restricted cash at beginning of period | 4825 | 3897 | 3811 | 3933 |
| Cash, cash equivalents and restricted cash at end of period | $5556 | $3811 | $5556 | $3811 |
| Reconciliation of cash, cash equivalents and restricted cash |  |  |  |  |
| Cash and cash equivalents | $5539 | $3787 | $5539 | $3787 |
| Restricted cash included in Prepaid expenses and other current assets | 17 | 24 | 17 | 24 |
| Cash, cash equivalents and restricted cash at end of period | $5556 | $3811 | $5556 | $3811 |

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**ADVANCED MICRO DEVICES, INC.**

**SELECTED CORPORATE DATA**

**(Millions) (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| | **December 27,<br>2025** | **September 27, 2025** | **December 28, 2024** | **December 27,<br>2025** | **December 28,<br>2024** |
| **Segment and Disaggregated Revenue Information** <sup>(1)</sup> | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net Revenue:** | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Data Center Segment | $5380 | $4341 | $3859 | $16635 | $12579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Client and Gaming Segment |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Client | 3097 | 2750 | 2313 | 10640 | 7054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gaming | 843 | 1298 | 563 | 3910 | 2595 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Client and Gaming | 3940 | 4048 | 2876 | 14550 | 9649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Embedded Segment | 950 | 857 | 923 | 3454 | 3557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total net revenue** | $10270 | $9246 | $7658 | $34639 | $25785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Operating Income (Loss):** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Data Center Segment | $1752 | $1074 | $1157 | $3603 | $3482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Client and Gaming Segment | 725 | 867 | 496 | 2855 | 1187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Embedded Segment | 357 | 283 | 362 | 1243 | 1421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All other | (1082) | (954) | (1144) | (4007) | (4190) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total operating income** | $1752 | $1270 | $871 | $3694 | $1900 |
| **Other Data** |  |  |  |  |  |
| Capital expenditures | $222 | $258 | $208 | $974 | $636 |
| Adjusted EBITDA <sup>(2)</sup> | $3048 | $2431 | $2198 | $8521 | $6810 |
| Cash, cash equivalents and short-term investments | $10552 | $7243 | $5132 | $10552 | $5132 |
| Free cash flow <sup>(3)</sup> | $2082 | $1530 | $1091 | $5519 | $2405 |
| Total assets | $76926 | $76891 | $69226 | $76926 | $69226 |
| Total debt | $3222 | $3220 | $1721 | $3222 | $1721 |

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(1) The Company operates as three operating segments, Data Center, Client and Gaming, and Embedded segments.<br>The Data Center segment primarily includes Artificial Intelligence (AI) accelerators, microprocessors (CPUs) for servers, graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), AI Network Interface Cards (AI NICs), Field Programmable Gate Arrays (FPGAs) and adaptive System-on-Chip (SoC) products for data centers.<br>The Client and Gaming segment primarily includes CPUs, APUs, chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services.<br>The Embedded segment primarily includes embedded CPUs, APUs, FPGAs, System on Modules (SOMs), and adaptive SoC products. <br>From time to time, the Company may also sell or license portions of its IP portfolio. <br>All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangibles, employee stock-based compensation expense, acquisition-related and other costs, inventory loss at contract manufacturer and restructuring charges.

(2) **Reconciliation of GAAP Net Income to Adjusted EBITDA**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| **(Millions) (Unaudited)** | **December 27,<br>2025** | **September 27,<br>2025** | **December 28,<br>2024** | **December 27,<br>2025** | **December 28,<br>2024** |
| &nbsp;&nbsp;&nbsp;GAAP net income | $1511 | $1243 | $482 | $4335 | $1641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 36 | 37 | 19 | 131 | 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other (income) expense, net | (358) | (82) | (37) | (577) | (181) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax provision (benefit) | 455 | 153 | 419 | (103) | 381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity income in investee | (1) | (10) | (12) | (26) | (33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation | 486 | 419 | 339 | 1638 | 1407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 194 | 192 | 172 | 750 | 671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of acquisition-related intangibles | 557 | 562 | 584 | 2254 | 2394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acquisition-related and other costs | 50 | 43 | 46 | 231 | 187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventory loss at (recovery from) contract manufacturer |  | (67) |  | (67) | 65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss contingency on legal matter | 9 | 12 |  | 21 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Restructuring charges |  |  | 186 |  | 186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss (Income) from discontinued operations, net of tax | 109 | (71) |  | (66) |  |
| &nbsp;&nbsp;&nbsp;Adjusted EBITDA | $3048 | $2431 | $2198 | $8521 | $6810 |

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The Company presents "Adjusted EBITDA" as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other (income) expense, net, income tax provision (benefit), equity income in investee, stock-based compensation, depreciation and amortization expense, amortization of acquisition-related intangibles, inventory loss at (recovery from) contract manufacturer, loss contingency on legal matter, acquisition-related and other costs, restructuring charges, and income from discontinued operations, net of tax. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company's calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of net income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.

(3) **Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow**

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **Year Ended** | **Year Ended** |
| **(Millions except percentages) (Unaudited)** | **December 27, 2025** | **September 27, 2025** | **December 28, 2024** | **December 27, 2025** | **December 28, 2024** |
| GAAP net cash provided by operating activities of continuing operations | $2304 | $1788 | $1299 | $6493 | $3041 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Operating cash flow margin % from continuing operations* | *22 %* | *19 %* | *17 %* | *19 %* | *12 %* |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (222) | (258) | (208) | (974) | (636) |
| Free cash flow | $2082 | $1530 | $1091 | $5519 | $2405 |
| &nbsp;&nbsp;&nbsp;&nbsp;*Free cash flow margin %* | *20 %* | *17 %* | *14 %* | *16 %* | *9 %* |

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The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities of continuing operations for capital expenditures, and free cash flow margin % is free cash flow expressed as a percentage of the Company's net revenue. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company's calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities.

## Exhibit 99.2

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AMD Financial Results Fourth Quarter and Full Year 2025 February 3, 2026

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2 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Cautionary Statement This presentation contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD), such as the features, functionality, performance, availability, timing and expected benefits of future AMD products; AMD's large growth opportunities across diverse set of markets; AMD's data center AI accelerator opportunity; AMD's expected first quarter 2026 financial outlook, including revenue, expected revenue from AMD Instinct MI308 sales to China, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP Interest Expense/Other Income (Expense), net, non-GAAP tax rate and diluted share count; AMD's large and compelling TAM; AMD's ability to expand Data Center and AI leadership; AMD's financial and operating performance; and AMD's ability to drive long-term shareholder returns, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD's products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD's ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD's products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD's products; AMD's reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD's products; AMD's reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD's internal business processes and information systems; compatibility of AMD's products with some or all industry-standard software and hardware; costs related to defective products; failure to maintain an efficient supply chain as customer demand changes; AMD's ability to rely on third party supply-chain logistics functions; AMD's ability to effectively control sales of its products on the gray market; impact of climate change on AMD's business; AMD's ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD's notes, the guarantees of Xilinx's notes and the revolving credit agreement; AMD's ability to satisfy financial obligations under guarantees and other commercial commitments; impact of acquisitions, joint ventures and/or investments on AMD's business and AMD's ability to integrate acquired businesses; impact of any impairment of the combined company's assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD's ability to attract and retain key employees; and AMD's stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD's Securities and Exchange Commission filings, including but not limited to AMD's most recent reports on Forms 10-K and 10-Q. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. NON-GAAP Financial Measures In this presentation, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue percent, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2025, AMD used a projected non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. Additionally, AMD has provided an adjusted non-GAAP gross profit and gross margin which excludes the impact from the release of inventory and related charges associated with U.S. export restrictions and AMD Instinct MI308 revenue to China. AMD also provides adjusted free cash flow as supplemental non-GAAP measures of its performance. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD's performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance. The non-GAAP financial measures disclosed in this presentation should be viewed in addition to and not as a substitute for or superior to AMD's reported results prepared in accordance with GAAP and should be read only in conjunction with AMD's Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the Appendices at the end of this presentation. This presentation also contains forward-looking non-GAAP measures concerning AMD's financial outlook such as gross margin, operating expenses, interest expense/other income (expense), net, tax rate and diluted share count. These forward- looking non-GAAP measures are based on current expectations as of February 3, 2026, and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its forward- looking statements made in this presentation except as may be required by law.

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3 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Our Journey Leadership Product Portfolio Expanding Customer & Partner Ecosystem Data Center and AI Growth Strong Financial Foundation

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4 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Powering AI and High-Performance Compute Everywhere Strategic Pillars High-Performance, Adaptive and Custom AI Platforms Powering AI Everywhere Cloud, Enterprise and Rack-Scale Solutions Expand Data Center Leadership Production-Grade AMD ROCm Software Stack Open Software Platforms & Developer Enablement CPU, GPU, FPGA, Networking, System-on-Chip, Chiplets & Packaging Extend Compute Technology Leadership

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5 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Large Growth Opportunities Across a Diverse Set of Markets Embedded Industry's broadest portfolio of adaptive and embedded computing platforms Data Center Leadership performance and TCO across cloud, enterprise and AI workloads Client and Gaming Performance, efficiency and AI capabilities for commercial and consumer PC and gaming experiences

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6 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Q4 2025 Revenue Record revenue of $10.3 billion increased 34% y/y Growth driven by broad-based demand across our Data Center and Client and Gaming segments $7.7B $10.3B 1 Q4 2024 Q4 2025 1. Fourth quarter of 2025 results included AMD Instinct MI308 GPU product revenue to China of ~$390 million

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7 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Q4 2025 Gross Margin 1. See Appendices for GAAP to Non-GAAP reconciliation 2. Fourth quarter 2025 results included the release of inventory and related charges of ~$360 million. GAAP Non-GAAP 1 54% 57% Q4 2024 Q4 2025 Excluding AMD InstinctTM MI308 inventory and related reserve release2 and sales to China, Non-GAAP gross margin1 would have been ~55% driven by a favorable product mix 51% 54% Q4 2024 Q4 2025

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8 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Q4 2025 Operating Income GAAP Non-GAAP 1 Record operating income driven by higher revenue partially offset by higher operating expenses Q4 2024 Q4 2025 $0.9B $1.8B 1. See Appendices for GAAP to Non-GAAP reconciliation $2.0B $2.9B Q4 2024 Q4 2025

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9 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 GAAP EPS up 217% y/y, primarily driven by higher revenue Q4 2025 Diluted Earnings Per Share GAAP Non-GAAP 1 1. See Appendices for GAAP to Non-GAAP reconciliation $0.29 $0.92 Q4 2024 Q4 2025 Record Non-GAAP EPS up 40% y/y driven by higher revenue $1.09 $1.53 Q4 2024 Q4 2025

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10 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Q4 2025 Summary P&L \| GAAP $ in millions, except per share data and % Q4'251 Q4'24 Y/Y Q3'25 Q/Q Revenue $10,270 $7,658 Up 34% $9,246 Up 11% Gross Profit $5,577 $3,882 Up 44% $4,780 Up 17% Gross Margin 54% 51% Up 3 ppts 52% Up 2 ppts Operating Expenses $3,825 $3,011 Up 27% $3,510 Up 9% Operating Expense/Revenue % 37% 39% Down 2% 38% Down 1% Operating Income $1,752 $871 Up 101% $1,270 Up 38% Operating Margin 17% 11% Up 6 ppts 14% Up 3 ppts Net Income $1,511 $482 Up 213% $1,243 Up 22% Diluted Earnings Per Share $0.92 $0.29 Up 217% $0.75 Up 23% 1. Fourth quarter of 2025 results included revenue from shipments of AMD Instinct MI308 GPU products to China of ~$390 million and the release of inventory and related charges of ~$360 million.

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11 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Q4 2025 Summary P&L \| NON-GAAP1 $ in millions, except per share data and % Q4'25 2 Q4'24 Y/Y Q3'25 Q/Q Revenue $10,270 $7,658 Up 34% $9,246 Up 11% Gross Profit $5,855 $4,140 Up 41% $4,992 Up 17% Gross Margin 57% 54% Up 3 ppts 54% Up 3 ppts Operating Expenses $3,001 $2,114 Up 42% $2,754 Up 9% Operating Expense/Revenue % 29% 28% Up 1% 30% Down 1% Operating Income $2,854 $2,026 Up 41% $2,238 Up 28% Operating Margin 28% 26% Up 2 ppts 24% Up 4 ppts Net Income $2,519 $1,777 Up 42% $1,965 Up 28% Diluted Earnings Per Share $1.53 $1.09 Up 40% $1.20 Up 28% 1. See Appendices for GAAP to Non-GAAP reconciliation 2. Fourth quarter of 2025 results included revenue from shipments of AMD InstinctTM MI308 GPU products to China of ~$390 million and the release of inventory and related charges of ~$360 million.

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12 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Q4 2025 Segment Results $ in millions Q4'25 Q4'24 Y/Y Q3'25 Q/Q Data Center Net Revenue 5,380 3,859 Up 39% 4,341 Up 24% Operating Income 1,752 1,157 Up 51% 1,074 Up 63% Client & Gaming Net Revenue 3,940 2,876 Up 37% 4,048 Down 3% Operating Income 725 496 Up 46% 867 Down 16% Embedded Net Revenue 950 923 Up 3% 857 Up 11% Operating Income 357 362 Down 1% 283 Up 26%

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13 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 FY 2025 Revenue Record full year revenue of $34.6 billion increased 34% y/y Revenue growth driven by growth in Data Center and Client and Gaming segments $25.8B $34.6B 2024 2025

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14 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 FY 2025 Gross Margin 1. See Appendices for GAAP to Non-GAAP reconciliation GAAP Non-GAAP 1 53% 52% 2024 2025 Flat y/y driven by product mix offset by net inventory and related charges 49% 50% 2024 2025

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15 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 FY 2025 Operating Income GAAP Non-GAAP 1 Increase driven by higher revenue partially offset by higher operating expenses 2024 2025 $1.9B $3.7B 1. See Appendices for GAAP to Non-GAAP reconciliation 2024 2025 $6.1B $7.8B

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16 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 GAAP EPS up 165% y/y, primarily driven by higher revenue FY 2025 Diluted Earnings Per Share GAAP Non-GAAP 1 1. See Appendices for GAAP to Non-GAAP reconciliation Record Non-GAAP EPS up 26% y/y, primarily driven by higher revenue $3.31 $4.17 2024 2025 $1.00 $2.65 2024 2025

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17 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 FY 2025 Summary P&L \| GAAP $ in millions, except per share data and % 20251 2024 Y/Y Revenue $34,639 $25,785 Up 34% Gross Profit $17,152 $12,725 Up 35% Gross Margin 50% 49% Up 1 ppt Operating Expenses $13,458 $10,825 Up 24% Operating Expense/Revenue % 39% 42% Down 3% Operating Income $3,694 $1,900 Up 94% Operating Margin 11% 7% Up 4 ppts Net Income $4,335 $1,641 Up 164% Diluted Earnings Per Share $2.65 $1.00 Up 165% 1. Fiscal year 2025 results included ~$440 million in net inventory and related charges as a result of the U.S. Government's export control on AMD InstinctTM MI308 data center GPU products.

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18 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 FY 2025 Summary P&L \| NON-GAAP1 $ in millions, except per share data and % 20252 2024 Y/Y Revenue $34,639 $25,785 Up 34% Gross Profit $18,165 $13,759 Up 32% Gross Margin 52% 53% Down 1 ppt Operating Expenses $10,397 $7,621 Up 36% Operating Expense/Revenue % 30% 30% Flat Operating Income $7,768 $6,138 Up 27% Operating Margin 22% 24% Down 2 ppts Net Income $6,831 $5,420 Up 26% Diluted Earnings Per Share $4.17 $3.31 Up 26% 1. See Appendices for GAAP to Non-GAAP reconciliation 2. Fiscal year 2025 results included ~$440 million in net inventory and related charges as a result of the U.S. Government's export control on AMD InstinctTM MI308 data center GPU products.

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19 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 FY 2025 Segment Results $ in millions 2025 2024 Y/Y Data Center Net Revenue $16,635 $12,579 Up 32% Operating Income $3,603 $3,482 Up 3% Client & Gaming Net Revenue $14,550 $9,649 Up 51% Operating Income $2,855 $1,187 Up 141% Embedded Net Revenue $3,454 $3,557 Down 3% Operating Income $1,243 $1,421 Down 13%

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20 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 1. See Appendices for GAAP to Non-GAAP reconciliation $ in millions Q4'25 Q3'25 Q/Q Cash, Cash Equivalents and Short-term Investments $10,552 $7,243 Up 46% Accounts Receivable, Net $6,315 $6,201 Up 2% Inventories $7,920 $7,313 Up 8% Total Debt $3,222 $3,220 Flat Q4 2025 Summary Balance Sheet Items Record cash from operating activities of continuing operations of $2.3 billion; record free cash flow of $2.1 billion1

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23 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Q4 2025 Embedded Segment Revenue Demand strengthened across several end markets Operating Margin Decline primarily due to product mix $950M Q4 2024 Q4 2025 $923M 39% 38% Q4 2024 Q4 2025 Revenue $950 Million Up 3% y/y Operating Income $357 Million vs. $362 Million a year ago Strategic Highlights AMD expanded its embedded processor portfolio with: • The RyzenTM AI Embedded P100 and X100 Series processors, designed for AI-driven applications across automotive, industrial automation and physical AI. • New additions to the AMD space-grade portfolio; the AMD VersalTM RF Series and Versal AI Edge Series Gen 2 adaptive SoCs for extreme space environments. • The AMD EPYC Embedded 2005 Series processors delivering enhanced performance, efficiency and high-speed connectivity for networking security and industrial-edge applications.

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24 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Financial Outlook – NON-GAAP1 1. See Cautionary Statement on Slide 2. These forward-looking outlook statements and non-GAAP measures are based on current expectations as of February 3, 2026, and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law. All items, except revenue, are on a non-GAAP basis. Adjustments to arrive at the GAAP financial outlook typically include stock-based compensation, amortization of acquired intangible assets, income tax provision, and other non-recurring items such as impairment charges and acquisition-related costs. A reconciliation to equivalent GAAP measures is not practicable at this time as the timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control. Such events may include unanticipated changes in AMD's GAAP effective tax rate, unanticipated one-time charges related to asset impairments, unanticipated acquisition-related expenses, unanticipated gains, losses, and impairments, and other unanticipated non-recurring items not reflective of ongoing operations. 2. Refer to Diluted Share Count overview in the Appendices. Q1'26 Revenue ~$9.8 Billion, +/- $300 Million Including ~$100 Million of AMD Instinct MI308 sales to China Gross Margin ~55% Operating Expenses ~$3.05 Billion Interest Expense/Other Income (Expense), net ~$35 Million Effective Tax Rate ~13% of pre-tax income Diluted Share Count2 ~1.65 Billion shares

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25 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Q4 2025 Summary1 1. See Appendices for GAAP to Non-GAAP reconciliation Revenue growth driven by broad based demand across our Data Center and Client and Gaming segments Record Revenue $10.3B Up 34% Y/Y Gross Margin 54% Non-GAAP Gross Margin 57% Data Center Segment Revenue $5.4B Up 39% Y/Y Client and Gaming Segment Revenue $3.9B Up 37% Y/Y Diluted EPS $0.92 Non-GAAP Diluted EPS $1.53

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26 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Corporate Responsibility at AMD Environmental Advancing environmental solutions in our products, supply chain and operations, while accelerating energy efficiency for IT users Social Fostering a workplace where all voices are welcomed and valued, partnering with suppliers, and positively impacting our communities Governance Integrating corporate responsibility and governance across product design, supply chain, operations, and external engagement

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27 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Our Momentum Driving Long-term Shareholder Returns Large and Compelling TAM Expanding Data Center and AI Leadership World-Class Execution and Focus Strong Balance Sheet Technology Leadership

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28 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Appendices $ in millions, except % (Unaudited) Q4'25 Q4'24 Q3'25 2025 2024 GAAP gross profit $5,577 $3,882 $4,780 $17,152 $12,725 GAAP gross margin 54% 51% 52% 50% 49% Stock-based compensation 8 6 7 26 22 Amortization of acquisition-related intangibles 260 252 260 1,031 946 Acquisition-related and other costs (1) 1 - - 2 1 Inventory loss at (recovery from) contract manufacturer (2) - - (67) (67) 65 Loss contingency on legal matter 9 - 12 21 - Non-GAAP gross profit $5,855 $4,140 $4,992 $18,165 $13,759 Non-GAAP gross margin 57% 54% 54% 52% 53% (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges. (2) Inventory loss at (recovery from) contract manufacturer is related to losses due to an incident at a third-party contract manufacturing facility in Q1'24 and the corresponding recovery. (3) Effective first quarter of 2025, licensing gain is reclassified against Marketing, general and administrative expenses as the amounts were immaterial. (4) Restructuring charges are related to the 2024 Restructuring Plan which comprised of employee severance charges and non-cash asset impairments. Reconciliation of GAAP to Non-GAAP Gross Profit and Gross Margin $ in millions, except % (Unaudited) Q4'25 Q4'24 Q3'25 2025 2024 GAAP operating expenses (3) $3,825 $3,011 $3,510 $13,458 $10,825 GAAP operating expenses/revenue % 37% 39% 38% 39% 42% Stock-based compensation 478 333 412 1,612 1,385 Amortization of acquisition-related intangibles 297 332 302 1,223 1,448 Acquisition-related and other costs (1) 49 46 42 226 185 Restructuring charges (4) - 186 - - 186 Non-GAAP operating expenses (3) $3,001 $2,114 $2,754 $10,397 $7,621 Non-GAAP operating expenses/revenue % 29% 28% 30% 30% 30% Reconciliation of GAAP to Non-GAAP Operating Expenses

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29 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Appendices Reconciliation of GAAP to Adjusted Non-GAAP Financial Measures $ in millions, except % (Unaudited) Q4'25 GAAP gross profit $5,577 GAAP gross margin 54% Stock-based compensation, amortization of acquisition-related intangibles, acquisition-related and other costs 278 Impact from the release of inventory and related charges associated with U.S. export restrictions and AMD Instinct MI308 revenue to China (430) Adjusted Non-GAAP gross profit $5,425 Adjusted Non-GAAP gross margin 55%

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30 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Appendices $ in millions, except % (Unaudited) Q4'25 Q4'24 Q3'25 2025 2024 GAAP operating income $1,752 $871 $1,270 $3,694 $1,900 GAAP operating margin 17% 11% 14% 11% 7% Stock-based compensation 486 339 419 1,638 1,407 Amortization of acquisition-related intangibles 557 584 562 2,254 2,394 Acquisition-related and other costs (1) 50 46 42 228 186 Inventory loss at (recovery from) contract manufacturer (2) - - (67) (67) 65 Loss contingency on legal matter 9 - 12 21 - Restructuring charges (3) - 186 - - 186 Non-GAAP operating income $2,854 $2,026 $2,238 $7,768 $6,138 Non-GAAP operating margin 28% 26% 24% 22% 24% Reconciliation of GAAP Operating Income to Non-GAAP Operating Income (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges. (2) Inventory loss at (recovery from) contract manufacturer is related to losses due to an incident at a third-party contract manufacturing facility in Q1'24 and the corresponding recovery. (3) Restructuring charges are related to the 2024 Restructuring Plan which comprised of employee severance charges and non-cash asset impairments.

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31 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Appendices Reconciliation of GAAP to Non-GAAP Net Income / Diluted Earnings Per Share $ in millions, except per share data (Unaudited) Q4'25 Q4'24 Q3'25 2025 2024 GAAP net income / earnings per share $1,511 $0.92 $482 $0.29 $1,243 $0.75 $4,335 $2.65 $1,641 $1.00 Stock-based compensation 486 0.29 339 0.21 419 0.26 1,638 1.00 1,407 0.86 Amortization of acquisition-related intangibles 557 0.34 584 0.36 562 0.34 2,254 1.38 2,394 1.46 Acquisition-related and other costs (1) 50 0.03 46 0.03 43 0.03 231 0.14 187 0.11 Inventory loss at (recovery from) contract manufacturer (2) - - - - (67) (0.04) (67) (0.04) 65 0.04 Loss contingency on legal matter 9 0.01 - - 12 0.01 21 0.01 - - (Gains) losses on long-term investments, net (280) (0.17) - - (26) (0.02) (365) (0.22) 2 - Equity income in investee (1) - (12) (0.01) (10) - (26) (0.02) (33) (0.02) Restructuring charges (3) - - 186 0.11 - - - - 186 0.11 Release of reserves for uncertain tax positions (4) - - - - - - (853) (0.52) - - Income tax provision 78 0.04 152 0.10 (140) (0.09) (271) (0.17) (429) (0.25) Loss (Income) from discontinued operations, net of tax (5) 109 0.07 - - (71) (0.04) (66) (0.04) - - Non-GAAP net income / earnings per share $2,519 $1.53 $1,777 $1.09 $1,965 $1.20 $6,831 $4.17 $5,420 $3.31 (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges. (2) Inventory loss at (recovery from) contract manufacturer is related to losses due to an incident at a third-party contract manufacturing facility and the corresponding recovery. (3) Restructuring charges are related to the 2024 Restructuring Plan which comprised of employee severance charges and non-cash asset impairments. (4) Release of reserves for uncertain tax positions pertains to the reasonable cause relief related to dual consolidated losses approved by the IRS in the second quarter of 2025. (5) Loss (Income) from discontinued operations relates to ZT Systems' manufacturing business which was divested in the fourth quarter of 2025.

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32 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Appendices Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow $ in millions, except % (Unaudited) Q4'25 GAAP net cash provided by operating activities of continuing operations $2,304 Operating cash flow margin % from continuing operations 22% Purchases of property and equipment (222) Free cash flow $2,082 Free cash flow margin % 20%

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33 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026 Appendices Share Count Overview The table above provides actual share count for Q4'25 and 2025 and an estimate of share count to use when calculating GAAP and non-GAAP diluted earnings per share for Q1'26. (1) Share counts are weighted average shares. (2) The dilutive impact of employee equity grants is based on the Treasury Stock method and is dependent on the average stock price during the period. The Q4'25 average stock price was $223. The estimated dilutive impact of employee equity grants in Q1'26 is based on the average stock price of $224 between December 29, 2025 and January 23, 2026. Shares (millions) (Unaudited) (1) Q4'25 2025 Q1'26 Actual Actual Estimate Basic shares 1,630 1,624 1,631 Dilutive impact from employee equity grants (2) 19 12 20 Diluted shares 1,649 1,636 1,651

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34 \| \| Q4 2025 FINANCIAL RESULTS – February 3, 2026

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