AMD CEO Lisa Su said in the company’s quarterly earnings call on Tuesday that Q3 2026 was “was the largest and most profitable in our history.” AMD reported a record $13.4 billion in quarterly revenue, and it’s predicting it will hit another record high next quarter of $17 billion. The company’s data center business is driving that growth, with $8.5 billion in data center quarterly revenue for Q3 2026. Su said AMD’s expecting its revenue to “grow more than 80 percent in 2027,” adding that “data center will be the largest contributor.”

Eventually, most of AMD’s revenue might come from its data center business. In response to a question during Tuesday’s earnings call, CFO Jean Hu said, “Looking ahead of 2027, we actually think our data center business will be more than 80 percent of total company revenue.”

As of Q3 2026, roughly 63 percent of AMD’s net quarterly revenue was from its data center business. Over the last couple years, jumps in the company’s revenue have been closely mirroring its data center business — in Q3 2026 its overall revenue went up $1.9 billion, while its data center revenue went up $1.8 billion.

As AMD keeps smashing its data center revenue records, its gaming business dropped 40 percent compared to last year, dipping to $773 million. PCs, game consoles, and other tech have been hit with price hikes over recent months due to shortages of RAM and other components, driven by demand from AI data centers. The shortage might not end anytime soon — Intel said it’s not expecting the shortage to improve next year, and SK Hynix predicted it’ll last until 2030.

Su acknowledged the price hikes, saying, “Our view is, this is one of those times — when, you know, component prices go up, it affects overall system pricing. One would expect the consumer markets to be more sensitive to that, and so we have seen a bit of a slowdown in the sell-through.” Su added, “We are planning with the current environment for a down year for 2027.”