AMD Posts Record Sales, But Musk’s NVIDIA Pledge Sinks the Stock
Yahoo Finance ·
Advanced Micro Devices delivered a stellar quarter with record sales of $11.5 billion, up 50% year over year and topping Wall Street estimates of $11.3 billion. Data center revenue doubled to $6.7 billion, while net income reached $2.3 billion, easily beating expectations. CEO Lisa Su provided robust guidance, projecting server revenue to surge over 80% in the second half of 2026. Despite these impressive figures, AMD shares tumbled over 8% after SpaceX CEO Elon Musk announced on August 4 that his firm would build exclusively on NVIDIA Corporation chips using the Vera Rubin architecture. Conversely, NVIDIA shares climbed 3.4% on Musk's remarks without any new earnings report. Hedge fund database records for Q1 2026 show AMD held by 134 funds, up from 132, while NVIDIA increased to 275 holders, solidifying its market preference among institutional investors.
AI 시장 분석
AMD reported Q2 2026 revenue of $11.5 billion, a 50% year-over-year increase, but its stock dropped 8% after Elon Musk announced that SpaceX would exclusively adopt NVIDIA (NVDA) chips for its AI chip infrastructure. Meanwhile, NVIDIA rose 3.4% without a separate earnings release, proving its market dominance. Despite AMD's solid earnings and large-scale contracts with OpenAI and Meta, investors are reacting sensitively to concerns over the loss of a single large customer and a high valuation (P/E ratio of approximately 170x).
상승 영향
- AI — Elon Musk's exclusive adoption of NVIDIA's Vera Rubin architecture reaffirmed its status as the AI hardware standard, and NVIDIA's stock rose 3.4% without an earnings release.
하락 영향
- Semiconductors — Despite AMD posting record-high revenue of $11.5 billion exceeding expectations, its stock plunged 8% in the aftermath of Elon Musk's declaration of exclusive NVIDIA supply.
DYAX 전담 분석
Elon Musk's announcement of the exclusive use of NVIDIA's Vera Rubin architecture offset AMD's record-breaking earnings news and triggered a sharp drop in stock price. Even though datacenter revenue doubled to $6.7 billion, the market placed greater weight on the possibility of NVIDIA losing its monopolistic position in the AI infrastructure market rather than short-term performance.
In the bullish scenario, AMD can continue its earnings momentum based on multi-year contracts with OpenAI and Anthropic, as well as the semiconductor market outlook growing to $2 trillion by 2028. In the bearish scenario, amidst high valuation pressures, additional customer defections or sluggish operating profits could prolong stock price adjustments. Future trends in large customer contract orders for both companies and the achievement of guidance should be monitored as key indicators.
AI가 생성한 분석으로 투자 자문이 아닙니다.
DYAX Investor Sentiment
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