AMD has presented its figures for Q2 2025 and exceeded analysts' expectations with revenue of USD 7.69 billion. Earnings per share of USD 0.48 were exactly in line with forecasts. Nevertheless, the market reacted cautiously - the share price fell by over 4% in the after-hours trading.
The reason: the traditional PC business remains weak year-on-year and there is currently a lack of growth momentum in the gaming segment (graphics cards). The much-cited AI hype has not yet been reflected as clearly in AMD's figures as it has at NVIDIA.
Looking ahead: AI offensive & data center as a beacon of hope
AMD remains optimistic, however: the company expects a jump in sales to USD 8.7 billion for the third quarter. The main drivers are expected to be the data center business and the AI sector. With the MI300X AI accelerator, AMD wants to gain more market share. Microsoft, Meta & Co. have already started testing these chips in their AI workloads - an important milestone for AMD in order to be perceived as a serious alternative to NVIDIA.
My conclusion:
The Q2 numbers are solid, but not yet a game changer. The exciting question remains whether AMD will manage to benefit more from the AI boom. Anyone who believes in AMD in the long term could use the current share price weakness as an entry opportunity - but the big leverage is not likely to become visible until 2026, when AI sales really scale.
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