AMD breaks revenue record at $11.5bn as data centres outpace gaming eightfold

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Nvidia hasn't been just a gaming-focussed company for a fair few years now, dining well off of the booming AI industry. AMD, one of its main rivals, is much the same, with the company feasting on the data centre segment in particular this past quarter.

In total, AMD reported record-breaking revenue of $11.5 billion in Q2 alone . Demand from data centres made up $6.7 billion of that, doubling what AMD made in the sector last year. So far, not so surprising as Q2 2026 financial results go—especially as gaming revenue apparently saw a year-over-year dip of 31%.

Instead of, say, GPUs or CPUs for gaming PCs, AMD has been selling way more lower-end and mobile Ryzen processors, with its client business raking in $3.1 billion as a result. That's a 23% increase compared to Q2 2025, with AMD attributing the uptick to "a 29% increase in unit shipments of client processors, partially offset by a 3% decrease in average selling price of client processors." Lower-spec processors generally have a lower asking price, after all.

In comparison, though, AMD's gaming segment only made $779 million in revenue. Gaming's dip is no surprise for a few reasons. For instance, a custom AMD SoC sits at the heart of the PS5; the console's age combined with how much its price has risen recently means that Sony is shifting fewer funky white boxes, and AMD is selling fewer custom chips as a result. Same goes for the Xbox .

To speak more broadly, the memory supply crisis has not been kind to PC gamers either. For those who have apparently been secluded under a cool mossy rock for the last year or so, AI data centres have been hoovering up all of the RAM and SSDs, driving up prices not just for memory but plenty of other consumer-geared components as a result. With high prices on consumer hardware—like AMD's higher-end processors and graphics cards for gaming—there's going to be much less demand.

Hence, the gaming part of AMD's business has shrunk, though the company continues to grow thanks to the continuing AI infrastructure build-out . Not only did AMD report record revenue for the second quarter of 2026, but it also sailed past Wall Street's no less eye-watering estimate of $11.25 billion.

In short, AMD isn't just a gaming-focussed company, and clearly hasn't been for a fair few years now.