According to Wccftech, AMD just posted record Q3 2025 earnings with $9.2 billion in revenue, marking a massive 36% year-over-year increase and 20% sequential growth. CEO Lisa Su confirmed during the earnings call that the company’s next-generation 2nm EPYC Venice “Zen 6” CPUs and Instinct MI400 AI accelerators remain on track for 2026 launch. The data center segment alone brought in $4.3 billion, up 22% year-over-year, while client and gaming revenue skyrocketed 73% to $4 billion. Early Venice silicon is already performing well in labs with “substantial gains” over current Zen 5 Turin chips, and multiple cloud partners have already brought their first Venice platforms online. Meanwhile, the MI400 series has already scored major deals with Oracle and the US Department of Energy, with Oracle committing to deploy “tens of thousands” of MI450 GPUs starting in 2026.
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Zen 6 Venice is the real deal
Here’s what’s interesting about the Venice announcement – we’re not just talking about paper launches here. The fact that multiple cloud OEMs already have platforms online suggests AMD is much further along in their validation process than we typically see this far out from launch. That’s actually huge when you consider these are 2nm chips we’re talking about – TSMC’s most advanced node yet. The “substantial gains” language from Lisa Su herself suggests we’re looking at more than just incremental improvements over Zen 5. And given that Zen 5 was already a solid architectural leap, that’s saying something.
MI400 AI ambitions are massive
Now let’s talk about the Instinct MI400 series, because AMD is clearly coming for NVIDIA’s lunch here. We’re looking at up to 40 petaflops of compute performance and 432 GB of HBM4 memory running at 19.6 TB/s bandwidth. Those numbers are absolutely staggering – they’re basically building supercomputers on a chip. But here’s the thing: raw specs alone don’t win AI deals. The fact that Oracle and the US Department of Energy are already committing to tens of thousands of these GPUs before they’ve even launched tells you AMD’s software stack and ecosystem must be maturing rapidly. Remember when AMD couldn’t give away data center GPUs? Those days are clearly over.
Gaming and client momentum continues
While the data center stuff gets all the headlines, AMD’s client business is absolutely crushing it too. Desktop CPU sales hit an all-time high, gaming revenue jumped 181% year-over-year to $1.3 billion, and Radeon RX 9000 GPUs are finally approaching MSRP after the crypto hangover. The console business is obviously driving a lot of that gaming growth, but the fact that Ryzen 9000 processors are setting records suggests AMD is maintaining its performance leadership in the consumer space too. Basically, they’re firing on all cylinders right now.
What’s next for AMD
So where does this leave us? AMD has its 2025 Financial Analyst Day coming up on November 11th, where we’ll likely get more detailed roadmaps and technical deep dives. The big question is whether they can maintain this momentum through 2026 when both Zen 6 and MI400 hit the market. If early performance numbers and customer commitments are any indication, AMD might finally be positioned to challenge NVIDIA’s AI dominance while simultaneously leading in traditional CPU markets. That’s a combination we haven’t seen from any company in years.
