AMD reports warrant remeasurement as AI chip deals expand

AMD’s November 3, 2026 release reported third-quarter revenue of $13.4 billion, up 45% year over year.[1] Net income was $2.4 billion, and diluted earnings per share were $1.46.[1] Data Center revenue reached a record $8.5 billion, a 97% year-over-year increase.[1] AMD said strong demand for EPYC processors and the launch of Instinct MI450 Series GPUs drove that growth.[1] For professionals tracking suppliers, the reported figures separate company-wide performance from the faster-growing Data Center segment.

AMD’s reconciliation listed a $1,097 change in the fair value of its warrant liability.[1] The company said this reflected the quarterly remeasurement of warrants issued to certain customers, driven by changes in AMD’s stock price and other valuation assumptions.[1] That description ties the reported change to the valuation of customer warrants; it does not, by itself, quantify the cash AMD received or paid. For finance teams reviewing the result, keep the warrant remeasurement distinct from the revenue and net-income figures AMD reported.

Reuters reported that AMD agreed to sell Meta up to $60 billion worth of AI chips over five years.[2] The agreement gives Meta the option to buy up to 10% of AMD.[2] Reuters described the Meta agreement as similar to an arrangement AMD struck with OpenAI the previous year.[2] Under the OpenAI deal, AMD would supply hundreds of thousands of AI chips, and OpenAI received a warrant allowing it to buy up to a 10% stake in AMD for one cent per share.[3] The reported terms make customer-linked warrants relevant context for reading the remeasurement.

AMD forecast fourth-quarter 2026 revenue of about $17 billion, with a 3% margin either way, and non-GAAP gross margin of about 55%.[1] These are company forecasts, not reported results. Reuters also reported that AMD shares surged more than 34% on Monday.[3] The evidence does not establish that the share move was caused by any single deal or result. For planning, professionals can use the forecast as a stated outlook while treating the customer agreements, warrant terms and reported quarterly performance as separate pieces of information.