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AMD releases Q4 2025 financial report, data center business hits new high but stock price fluctuates significantly
Economic Observer Network: AMD announced its Q4 2025 financial results on February 4, 2026. Revenue reached $10.27 billion, up 34% year-over-year. Adjusted earnings per share were $1.53, exceeding market expectations. Data center business revenue hit $5.38 billion, a record high, up 39% year-over-year. However, the Q1 2026 revenue guidance median is $9.8 billion (a 5% quarter-over-quarter decline), with an expected gross margin of around 55%. Some investors are concerned that the growth pace is not as optimistic as anticipated. The company revealed that sales of the MI308 chip in China totaled $390 million, and plans to launch the MI400 series GPU in the second half of 2026. OpenAI expects to receive the first batch of MI450 GPUs as scheduled.
Recent Stock Performance
Over the past 7 days, AMD’s stock has shown significant volatility: on February 6, 2026, it surged 8.28% in a single day to $208.44, with trading volume exceeding $11.2 billion; on February 9, driven by the tech sector rally, it continued to rise 3.63% to $216.00; but on February 10 and 11, it pulled back 1.13% and 0.24%, respectively, closing at $213.05 on February 11. The range fluctuation reached 12.06%, reflecting market divergence over the earnings report and AI business outlook.
Recent Events
On February 9, 2026, U.S. tech stocks broadly rose, with AMD increasing by 3.63%, boosted by positive industry news such as Google planning to issue $20 billion in bonds to increase AI investment. Meanwhile, AMD’s partnership with OpenAI drew attention, with market concerns that OpenAI’s financial situation could impact AMD’s long-term order stability.
Institutional Views
Guojin Securities’ report on February 4, 2026, indicated that AMD’s data center business remains highly active. It expects that large-scale deployment of AI GPUs in the second half of 2026 will drive growth, maintaining a “Buy” rating. Huachuang Securities on the same date commented that the MI400 series is progressing smoothly, but cautioned about potential risks related to AI chip production capacity and market competition.
The above content is compiled from public information and does not constitute investment advice.