00:00 Josh
AMD reports the stock is slipping here about two and a half percent, at least initially in the in the after hours. Of course, Cody, the the stock had just a remarkable move heading into the into the print, but I’m curious, Cody, just to get your your first take on these results.
00:15 Cody
No, I think Josh, they’re really strong numbers across the board. $500 million upside in revenue, 10 cent EPS beat, $400 million guide. and it’s really uh it’s largely on the strength of their gaming and client business. Gaming was up 181% annually. That’s on the refresh of the uh uh Sony and Microsoft game systems. Uh clients up only 50% annually, but servers are up another 22%. So they’re continuing to to take share from Intel in the server market. And but overall, I thought it was a strong number.
00:47 Josh
Cody, you know, I mentioned the move the stock had into the print. It was up around, Cody, 50% over the past month. And and you know, you can chalk that up, I think to AMD making these really headline making deals, right? with with big names with Open AI and with Oracle. And I’m just curious, Cody, when you were talking to your clients about those deals, how are you walking them through it? What what it means for AMD long-term financially and strategically?
01:13 Cody
Long-term, I think it’s extremely uh positive. You’ve got Oracle, you’ve got uh Open AI that’s that’s now coming to the table there. Uh the the bigger concern had been whether or not AMD could become a real alternative to Nvidia’s AI accelerators. and I think with these uh these new agreements with Oracle and Open AI, you’re starting to see uh the market’s answer to that. And uh and I think that with the the new rollout of their new systems, their new MI 400 platform, uh their new Helios rack scale system. uh this all comes out in 26 and this is uh AMD’s real answer to Nvidia’s NVL platform uh that’s that leads the market today. And so, uh this will be the first opportunity we really get to see AMD compete head-to-head with Nvidia, uh but the market’s already answering uh that with uh customers already starting to line up.