[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dciob1db33d7":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dciob1db33d7","AMD关键信息: Jean Hu - EVP CFO & Treasurer","\u002Fdoc\u002Fdciob1db33d7","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp> \u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>美股投资网获悉，\u003C\u002Fspan>AMD: Jean Hu-\u003Cspan>执行副总裁、首席财务官兼财务主管\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>Key Message: positive outlook for data center growth (2027+2x) with MI450 ramping this qtr (significant step up in Q4& Q1:27), and greater CPU supply driving strong growth into 2027. GM is less clear to me given the movingparts in the mix.\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>关键信息\u003C\u002Fspan>:\u003Cspan>对数据中心增长持积极展望\u003C\u002Fspan>(2027\u003Cspan>年增长至\u003C\u002Fspan>+2\u003Cspan>倍\u003C\u002Fspan>)\u003Cspan>，\u003C\u002Fspan>MI450\u003Cspan>将于本季度开始放量\u003C\u002Fspan>(\u003Cspan>第四季度和\u003C\u002Fspan>Q1:27\u003Cspan>将实现显著提升\u003C\u002Fspan>)\u003Cspan>，\u003C\u002Fspan>CPU\u003Cspan>供应增加将推动增长强劲延续至\u003C\u002Fspan>2027\u003Cspan>年。鉴于产品组合中的诸多变动，\u003C\u002Fspan>GM\u003Cspan>对我而言尚不明朗。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>This room is even more packed\u002Fstanding room only than AMD(AMAT was crowded in the back of the room but AMD has folks along the wall too).\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>这个会场比\u003C\u002Fspan>AMD\u003Cspan>的会场更加拥挤，甚至只能站立\u003C\u002Fspan>(AMAT\u003Cspan>会场后方人很多，但\u003C\u002Fspan>AMD\u003Cspan>会场连墙边也站满了人\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>Reiterated 2027 Data Center growth +2X\u003Cspan>重申\u003C\u002Fspan>2027\u003Cspan>年数据中心增长至\u003C\u002Fspan>+2\u003Cspan>倍\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>GPU ramp for MI450 starts this qtr and ramping into 2027Some revenue in Q3, then significant step up in Q4:26 and again in Q1:27.\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>MI450\u003Cspan>的\u003C\u002Fspan>GPU\u003Cspan>产能爬坡将于本季度开始，并持续爬坡至\u003C\u002Fspan>2027\u003Cspan>年。\u003C\u002Fspan>Q3\u003Cspan>将产生部分收入，随后在\u003C\u002Fspan>Q4:26\u003Cspan>大幅提升，并在\u003C\u002Fspan> Q1:27\u003Cspan>再次提升。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>CPU supply is increasing and can grow 80% in H2:26 and70% in 2027 despite still constrained.\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>CPU\u003Cspan>供应正在增加，尽管仍受到限制，但\u003C\u002Fspan>H2:26\u003Cspan>可增长\u003C\u002Fspan>80%\u003Cspan>，\u003C\u002Fspan>2027\u003Cspan>年可增长\u003C\u002Fspan>70%\u003Cspan>。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>GM Puts\u002FTakes: will be impacted by the MI450 ramp(lower margin, but drives Gross Profit), but there are some offsets with Server CPU (strong and high margin), rebound in Embedded (high margin and broad-based recovery) and Gaming mix (lower margin).\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>\u003Cspan>毛利率增减因素\u003C\u002Fspan>:\u003Cspan>将受到\u003C\u002Fspan>MI450\u003Cspan>产能爬坡的影响\u003C\u002Fspan>(\u003Cspan>毛利率较低，但可带动毛利润增长\u003C\u002Fspan>);\u003Cspan>不过，\u003C\u002Fspan>Server CPU(\u003Cspan>表现强劲且毛利率较高\u003C\u002Fspan>)\u003Cspan>、\u003C\u002Fspan>Embedded\u003Cspan>业务反弹\u003C\u002Fspan>(\u003Cspan>毛利率较高且呈广泛复苏\u003C\u002Fspan>)\u003Cspan>以及\u003C\u002Fspan>Gaming\u003Cspan>业务组合\u003C\u002Fspan>(\u003Cspan>毛利率较低\u003C\u002Fspan>)\u003Cspan>将带来部分抵消\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>CPU pricing: function of units (smaller) and ASP (increased core count per generation also impacts pricing). Work with customers on best L-T relationship\u002FTCO. Not looking to increase pricing just to increase GM.\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>CPU\u003Cspan>定价\u003C\u002Fspan>:\u003Cspan>取决于出货量\u003C\u002Fspan>(\u003Cspan>规模较小\u003C\u002Fspan>)\u003Cspan>和\u003C\u002Fspan>ASP(\u003Cspan>每代核心数增加也会影响定价\u003C\u002Fspan>)\u003Cspan>。与客户合作，以实现最佳的长期关系\u003C\u002Fspan>\u002FTCO\u003Cspan>。并不打算仅为提高\u003C\u002Fspan>GM\u003Cspan>而提价。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp> \u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FA\u002FAMD\u002FAMD.jpg","2026-09-08T17:20:46","2026.09.08","2026\u002F09\u002F08",35097,[22],"AMD","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" rel=\"noopener noreferrer\">\u003Cimg src=\"\u002Fimg\u002Fstockwewebfiles\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca rel=\"noopener noreferrer\" href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":71,"summaryHtml":76,"aboutTitle":77,"aboutHtml":78,"copyrightHtml":79},[44,47,50,53,56,59,62,65,68],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fvip",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"AI智能体","\u002FAiAgent",{"label":60,"url":61},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":63,"url":64},"美股课程","\u002Fcol\u002Fvideos",{"label":66,"url":67},"免责声明","\u002Fdisclaimer",{"label":69,"url":70},"联系我们","\u002FContactUs",[72,73,74,75],"\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","\u002Fimg\u002Fstockwebsiteblob\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"courseContent":87,"more":88,"buyNow":89,"subscribeNow":90,"encoding":91,"paidContent":92},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]