Squawk on the Street · Nov 5, 2026
With Lisa Su, Chair and CEO of AMD
Photo: Fuzheado, CC BY 4.0 via Wikipedia
AMD's data-center revenue grew more than 40% year-over-year in the third quarter, and the whole data-center business is tracking roughly 100% growth this year and next. While much of the AI trade has been consumed by worry over whether chip supply can keep up, Lisa Su told CNBC the opposite problem is the real one.
"We are seeing the demand being higher than supply." — Lisa Su
Lisa, whose company has already landed new racks at Anthropic, OpenAI, Microsoft, Oracle and Meta, said AMD still has to work out how to supply all the demand in front of it.
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Here are the 3 numbers that matter.
Key Takeaways
Compute demand is outrunning supply, not the other way around
New racks are already live at Anthropic, OpenAI, Microsoft, Oracle and Meta
Data-center revenue grew over 40% in the third quarter
The whole data-center business is tracking roughly 100% growth this year and next
AMD expects over 80% growth next year, calling the AI build-out still early
1. Demand Still Beats Supply
Lisa's headline fact for the quarter is simple: AMD cannot make enough.
Demand for compute is outrunning supply, Lisa says
"We are seeing the demand being higher than supply." — Lisa Su
She framed this as AMD's central operating problem right now, not a one-off shortage in a single product line.
AMD needs to supply all the demand that's out there
"We need to ensure we supply all the demand out there." — Lisa Su
