A headline pushed the stock down, but the underlying business still looks different to me. $SpaceX(SPCX)$ moving toward $NVIDIA(NVDA)$ has pressured $Advanced Micro Devices(AMD)$ shares, sending the stock lower. But AMD's data center business has grown dramatically: Q2 2024 total company revenue was $5.8B, while Q2 2026 data center revenue alone hit $6.7B. The latest quarter showed revenue of $11.5B, +50% YoY, with data center at $6.7B, +107% YoY. EPS came in at $1.66, above expectations, and Q3 revenue guidance is $13B, ahead of consensus. The market is debating AI chip leadership, but AMD's growth in data center remains a major trend to watch.
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