Went through the conference call, AMD is expecting a very big Q4 thanks to improving market conditions and a big revenue boost from El Capitan. They pulled back a little from their previous 2H projections but are still projecting close to 50% rise in data center revenue from 1H23 to 2H23. According to my napkin math, that puts Q4 data center revenue at ~$2.3B and they should set a new record for quarterly revenue ($6.55B is the current record) in Q4 and do so with potentially the highest gross margins they’ve ever recorded.
While they didn’t want to talk too much about it, sounds like they expect 2024 to be a very big year for them. They expect a bit of a drop off in the first half without the El Capitan money but then to be back up in the second half as they ramp MI300 with additional customers.
If things go as they plan, they could be approaching $30B annual revenue as they finish 2024.