Lisa Su Says AMD's Server Revenue Will Grow More Than 80% This Half -- and That's Not the AI Accelerator Business

AMD reported strong second-quarter 2026 results and issued upbeat guidance, with CEO Lisa Su saying server CPU revenue should grow more than 80% year over year in the second half of 2026 and more than 70% in 2027. Importantly, this strength is coming from the traditional server CPU business, not just AI accelerators, suggesting AMD’s data-center growth is broader and more durable than the market may assume. Second-quarter revenue rose 50% to a record $11.5 billion, while data center revenue jumped 107% to $6.7 billion. AMD also guided third-quarter revenue to about $13 billion, implying roughly 41% growth at the midpoint. The article argues that AI infrastructure demand is also lifting ordinary computing, with server CPUs benefiting from cloud and enterprise demand, record revenue for five straight quarters, and share gains in x86 servers. Despite the improved outlook, the stock remains expensive, so the news is supportive for fundamentals but not necessarily a valuation reset.