Three segments. Three different growth rates. The mix tells the story.
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✦ The bottom line
FY2025 revenue: $34.6 billion, up from $25.8B. Three segments grew at very different speeds — and the headline disguises which one is now the engine.
↓ the brief below
✦ Teach me
Money coming in
Every dollar customers paid AMD — for server chips (EPYC), AI accelerators (Instinct), PC chips (Ryzen), game console chips (PlayStation 5, Xbox), and embedded products (factory equipment, cars, network gear).
AMD reports this in three buckets. Watch the mix — not just the total — to see which part of the business is doing the heavy lifting.
Wall Street calls this
Revenue / Net revenue
+34% is impressive for a $30B+ company. But the *composition* of that growth matters more than the headline — it tells you what's driving it and how durable it is.
Total revenue · full year 2025
$34.6
B
Up 34% from $25.8B in 2024. AMD's fastest growth since the post-pandemic 2021 peak. The growth is led by data center — and accelerating.
Source · 10-K · Income Statement · FY2025 · Filed Feb 4, 2026
$34.6 billion is the headline. But AMD has three businesses inside it — and they don't all behave the same way. The fastest-growing one isn't always the biggest, and the biggest one isn't always the most strategically important. Looking at the segment mix is how you tell what's actually driving the company forward. Here's the breakdown.
Segment revenue · full year 2025
$16.6
B
Data Center alone — up 32% YoY. The other two: Client & Gaming $14.6B (+51%), Embedded $3.5B (−3%). Data Center is now AMD's single biggest segment, driven by EPYC server CPUs and Instinct AI GPUs.
Source · 10-K · Segment Information · FY2025 · Filed Feb 4, 2026
+34% revenue growth is real momentum. But every chip company saw a 2025 lift from the AI buildout — so the right question is whether AMD's growth is above or below the pack. The cleanest comparison is to the two companies whose products most overlap with AMD's: Nvidia in AI GPUs and Intel in server + PC CPUs. So how are the three doing side by side?
AMD vs. the closest public peers · revenue growth
Revenue growth · full year 2025
AMD
+34%
Nvidia
+78%
Intel
−1%
AMD is sandwiched: not as fast as Nvidia (still riding the H100/B100 wave), miles ahead of Intel (in a painful turnaround). The teaching moment: is real, but the gap between winners and losers is widening.