AMD has entered into $48.8 billion in unconditional purchase commitments, with $33.4 billion due by the end of 2027. These commitments mainly cover wafers, substrates, memory and manufacturing services, alongside a separate $6.2 billion commitment for cloud computing capacity. In the third quarter of 2026, AMD generated $13.4 billion in revenue, up 45% year over year, while its data center segment grew 97% on strong sales of Instinct GPUs and EPYC processors. The company expects approximately $17 billion in revenue for the fourth quarter and has secured multi-gigawatt agreements with OpenAI and Meta, but the fixed obligations expose it to slower demand and potential dilution from the warrants granted to the two customers.
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