AMD near $1 trillion: data-center revenue doubled, a stock that tripled since March, and $8.2 billion paid in shares

Advanced Micro Devices closed at $608.10 on October 9, 2026, giving it a market value of about $993 billion. The stock was up 161% over twelve months and 184% in 2026, and more than tripled from its twelve-month low of $190.95 on March 3; its highest close, $649.42, came on October 6. On trailing earnings the price is about 155 times earnings per share; on analysts’ forward estimates, about 39.

Data center more than doubled

Second-quarter 2026 revenue was a record $11.5 billion, up 50% from a year earlier and 13% from the first quarter. Data Center revenue was $6.7 billion, up 107% and 58% of the total, driven by EPYC processors and Instinct GPUs. Client revenue rose 23% to $3.1 billion, Embedded 19% to $977 million, and Gaming fell 31% to $779 million on lower semi-custom sales. Operating income was $2.0 billion, against a loss a year earlier, when results included $800 million of charges tied to U.S. export controls on the MI308 GPU. Net income, $2.3 billion, was higher than operating income because of $598 million of other income. For the third quarter AMD guided to revenue of about $13 billion, plus or minus $300 million.

Paying in shares, borrowing in notes

On September 26, 2026, AMD agreed to buy World Labs Technologies for about $8.2 billion, paid in AMD shares; the number of shares will be set by the average price over ten trading days before closing, and they will be issued privately, not in a public offering. In August it sold $4.75 billion of senior notes maturing from 2029 to 2036, at rates from 4.6% to 5.5%. Joe Householder retired from the board in August and Tim Ryan joined it.

Who held it at the end of June

Fourteen of the 38 managers held AMD at the end of June, up from 10 in March; 13 had more than $1 million (Baillie Gifford reported 82 shares). Most are quantitative and multi-strategy funds. Chase Coleman’s Tiger Global opened a position for the first time in this site’s records; Philippe Laffont’s Coatue and Stanley Druckenmiller’s Duquesne returned to it. Ken Griffin’s Citadel more than doubled its stake, while Ray Dalio’s Bridgewater cut 58%. These values are at the June 30 price; a 13F does not say when during the quarter shares were bought.

Insiders

In the three months to early October, AMD executives sold $108.9 million of stock and none bought. $101.2 million of it went through 10b5-1 trading plans, including $55.4 million by chief executive Lisa Su, $20.5 million by technology chief Mark Papermaster and $16.6 million by Forrest Norrod, who runs the data-center business. One sale, $7.7 million by sales chief Darren Grasby, was not marked as made under a plan. Daily data is on the AMD page. Not investment advice.