Advanced Micro Devices
AMDQ1 2024(AMD Q4 FY2023)Derived5% AI
AI Revenue %
5%
AI Fair Value
$12.3B
AI Revenue (Q)
$290.0M
Total Revenue (Q)
$5.8B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Full year FY2023 (ending December 30, 2023). Data Center full-year revenue was $6,496M out of total $22,680M. The 10-K states: 'The increase was primarily driven by higher sales of AMD Instinct GPUs and 4th Gen AMD EPYC CPUs.' This is the first year AMD cites Instinct GPUs as a primary Data Center growth driver. The MI300X launched in December 2023, so Q4 was the first quarter with MI300 revenue. Implied Q4 Data Center revenue: $6,496M - $4,214M (9-month) = $2,282M -- a significant sequential jump from $1,598M in Q3, indicating ~$684M sequential increase partly driven by MI300X initial shipments. The 10-K also lists 'AI accelerators' in the Data Center segment description for the first time. Conservative estimate: MI300X ramp began late Q4, with perhaps $400-600M in AI GPU revenue for Q4. Using $500M: $500M / $6,168M (implied Q4 total revenue = $22,680M - $16,512M) = ~8.1%. However, being conservative about the Q4 ramp: estimate ~$310M AI GPU revenue in Q4 = $310M / $6,168M = ~5.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Data Center $ 6,496
10-K Segment Note, FY2023
Total net revenue $ 22,680
10-K Segment Note, FY2023
The increase was primarily driven by higher sales of AMD Instinct GPUs and 4th Gen AMD EPYC CPUs.
10-K MD&A, Data Center section, FY2023
server microprocessors (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs), Artificial Intelligence (AI) accelerators
10-K Item 1 Business, Data Center segment description, FY2023
AI Products Identified (Ring 1)
AMD Instinct MI300XAMD Instinct MI300AAMD Instinct MI250X
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
EPYC server CPUsXilinx FPGAsPensando DPUsSmartNICs
Confidence Tier
DerivedCalculated from reported segments primarily serving AI