What changed in this filing

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Item 1. Business

2026-02-04 compared with 2025-02-05 · 188 added, 158 removed, 250 unchanged (58% of the section changed)

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international sales will continue to be a significant portion of total sales in the foreseeable future;

that AMD’s cash, cash equivalents, and short-term investment balances together with the availability under that certain revolving credit facility (the Revolving Credit Agreement) made available to AMD and certain of its subsidiaries, our commercial paper program, and our cash flows from operations will be sufficient to fund AMD’s operations including capital expenditures and purchase commitments , and acquisitions over the next 12 months and beyond;

the expectation that AMD’s cash, cash equivalents, and short-term investments together with the availability under that certain revolving credit facility (the Revolving Credit Agreement) made available to AMD and certain of its subsidiaries, our commercial paper program, and our cash flows from operations will be sufficient to fund AMD’s operations, including capital expenditures, purchase and lease commitments and strategic activities over the next 12 months and beyond;

AMD’s ability to obtain sufficient external financing on favorable terms, or at all;

AMD’s expectation that actions associated with the 2024 Restructuring Plan will be substantially completed by the end of the first quarter of fiscal year 2025;

AMD’s expectation that based on management’s current knowledge, the potential liability related to AMD’s current litigation will not have a material adverse effect on its financial position, results of operation or cash flows;

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the expected implications from the development of the legal and regulatory environment relating to emerging technologies such as AI;

AMD’s expectation to utilize the cloud service capacity in its operations or assign the capacity;

AMD’s expectation that it will not pay dividends in the near future;

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expected future AI technology trends and developments;

the expected benefits of AMD’s acquisition of Silo AI Oy (Silo AI);

AMD’s anticipated acquisition of ZT Group Int’l, Inc.

(ZT Systems) and the anticipated timing of the transaction;

AMD’s intention to seek a strategic partner to acquire ZT Systems' manufacturing business;

the expected benefits of AMD’s acquisitions;

and AMD’s expectation to fund stock repurchases through cash generated from operations.

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For example, our disclosures based on any standards may change due to revisions in framework requirements, availability of information, changes in our business or applicable government policies, or other factors, some of which may be beyond our control.

Table of Conten t s

References in this Annual Report on Form 10-K to “AMD,” “we,” “us,” “management,” “our” or the “Company” mean Advanced Micro Devices, Inc.

and our consolidated subsidiaries.

AMD is the high performance and adaptive computing leader, powering the products and services that help solve the world’s most important challenges.

Our technologies advance the future of data centers, powering the cloud services that have become an essential part of how we work, game, and connect to network, PCs, edge computing, and artificial intelligence (AI).

We drive innovation through high-performance and adaptive computing technology, software and product leadership.

With our high-performance product portfolios, we deliver differentiated solutions, such as our semi-custom System-on-Chip (SoCs), Adaptive SoCs, and accelerated processing units (APUs), and platform level client computing devices, embedded platforms and servers for our customers.

We offer a deep portfolio of data center computing solutions including AI accelerators, microprocessors (CPUs), graphic processing units (GPUs), data processing units (DPUs), Smart Network Interface Cards (SmartNICs), and field programmable gate arrays (FPGAs), to meet the vast computing performance requirements of today’s data centers, supercomputers, AI and Machine Learning (ML) data center environments and cloud environments.

We drive innovation with our line-up of CPUs, APUs and chipsets for desktops and notebooks, to bring performance, efficiency, AI capabilities and modern security features to gamers, creators, consumers and enterprises.

AMD drives innovation in high performance and AI computing to solve the world’s most important challenges.

AMD technology powers billions of experiences across cloud and AI infrastructure, embedded systems, AI PCs and gaming.

With a broad portfolio of AI-optimized CPUs, GPUs, networking and software, AMD delivers full-stack solutions that help customers turn data into breakthroughs, with the speed and scale needed for a new era of intelligent computing.

Our high-performance product portfolios provide differentiated solutions, including semi-custom System-on-Chip (SoCs), adaptive SoCs and accelerated processing units (APUs).

For data centers, we offer AI accelerators, microprocessors (CPUs), graphic processing units (GPUs), data processing units (DPUs), AI Network Interface Cards (AI NICs) and field programmable gate arrays (FPGAs).

We offer ultra-low latency networking solutions.

We also offer data center rack-scale platform designs that incorporate AMD data center products to meet the growing performance demands of AI supercomputers and machine learning workloads.

In client computing, our CPUs, APUs and chipsets for desktops and notebooks deliver performance, efficiency, AI capabilities and modern security features for gamers, creators, consumers and enterprises.

AMD was the first company to integrate a dedicated neural processing unit (NPU) on the same SoC as an x86 CPU for AI PCs.

Our GPUs, including discrete GPUs, semi-custom SoC products and development services, work together with software to power immersive gaming experiences for PCs, game consoles and cloud gaming services.

We are a leader in embedded computing, where we deliver high-performance and scalability across a full portfolio of CPUs, APUs, FPGAs, system on modules (SOMs) and Adaptive SoCs that are used in a variety of markets, including automotive, industrial, healthcare, storage and networking.

We also incorporate dedicated AI processing capabilities into our embedded portfolio.

We develop world-class software stacks that are used to enable our high-performance products.

Our software stacks include development tools, compilers, and drivers for our CPUs, APUs, GPUs and FPGAs.

We work closely with our customers to define and develop customized solutions to precisely match their requirements.

We enable this by combining our broad portfolio of high-performance IP with our leadership design and packaging to deliver world-class customized solutions to our customers.

We invest in innovative technology and solutions such as our custom-ready chiplet platform and AMD Infinity Architecture to maintain our leadership position as a custom-design silicon provider of choice.

We believe that AI is defining the next era of computing and that the full potential of AI will be realized when the technology is pervasive across cloud, edge and end devices.

We believe AMD has the compute engines, intellectual property, software capabilities and expertise to be a leader in this next computing era with a broad, portfolio of high-performance compute engines spanning across supercomputing, cloud, edge, embedded and end devices.

We believe we have a unique opportunity to make AMD the end-to-end AI leader based on the breadth of our technology and product portfolios.

Our AI strategy is focused on three priorities.

The first is delivering a broad portfolio of high-performance adaptive hardware and software solutions.

The second is expanding the deep and collaborative partnerships we have established across the ecosystem to accelerate deployments of AMD based AI solutions at scale.

And the third is providing compelling user experiences to extend the open and proven software platform we have established that enables our AI hardware to be deployed more broadly and easily.

One of our priorities in 2024 was to accelerate growth in our Data Center segment.

The demand for our data center AI accelerator products was very strong as large hyperscaler customers, OEMs and ODMs deployed our AMD Instinct™ MI300X GPUs.

During the year, we announced that we have accelerated our AMD AI accelerator roadmap to deliver an annual cadence of leadership AMD Instinct solutions.

We announced our 5th Gen AMD EPYC™ family of server processors, providing leadership performance and capabilities for a wide range of data center workloads.

During the year, we completed the acquisition of Silo AI Oy (Silo AI), an AI lab based in Finland.

The acquisition of Silo AI expanded our capability to accelerate development and deployment of AI models on AMD hardware.

Silo AI has also developed a software stack used to train multiple state-of-the-art large language models (LLMs) on AMD Instinct accelerators that can accelerate the development of highly-performant AMD training solutions.

We also focused on building our data center AI rack and data center-scale solutions capabilities by entering into an agreement to acquire ZT Group Int’l, Inc.

(ZT Systems), a provider of AI and general purpose compute infrastructure for hyperscale computing companies in August 2024.

We believe that with the acquisition of ZT Systems, we can deliver leadership training and inferencing solutions that can accelerate time to deployment for our AMD Instinct platforms.

The acquisition is expected to close in the first half of fiscal year 2025, subject to certain regulatory approvals and other customary closing conditions.

We intend to seek a strategic partner to acquire ZT Systems' manufacturing business.

We continued to invest in driving software capabilities and the open ecosystem to deliver powerful new features and capabilities in the AMD ROCm™ open software stack, bringing the latest features to highly-performant AI training and inference on AMD platforms.

During the year, we made several key optimizations and additional features in the latest AMD ROCm software that increases performance in key generative AI workloads, adds expanded support and optimization for additional frameworks and libraries, and simplifies the overall developer experience.

Our four reportable segments are:

• the Data Center segment, which primarily includes AI accelerators, server CPUs, GPUs, APUs, DPUs, FPGAs, SmartNICs, and Adaptive SoC products for data centers;

• the Client segment, which primarily includes CPUs, APUs, and chipsets for desktops and notebooks;

• the Gaming segment, which primarily includes discrete GPUs, semi-custom SoC products and development services;

• the Embedded segment, which primarily includes embedded CPUs, GPUs, APUs, FPGAs, SOMs, and Adaptive SoC products.

By bringing NPU‑accelerated AI capabilities directly into mainstream x86 platforms, we established a differentiated technology footprint that supports a growing ecosystem of AI‑enabled applications and lays the groundwork for the multi‑generation Ryzen™ AI roadmap that continues to expand our leadership.

Our GPUs, including discrete GPUs and semi-custom SoCs, are combined with software to power immersive gaming experiences across PCs, game consoles and cloud gaming services.

Our embedded computing portfolio delivers high-performance, scalable solutions across CPUs, APUs, FPGAs, System-on-Modules (SOMs) and adaptive SoCs for markets such as automotive, industrial, healthcare, storage and networking with integrated AI processing capabilities.

We develop comprehensive software stacks that include development tools, compilers and drivers to enable our high-performance CPUs, APUs, GPUs and FPGAs.

We have a comprehensive and open AI software stack to support the diverse set of AI ecosystems across frameworks, large and small language models and applications.

By working closely with customers, we deliver customized solutions that meet their evolving needs, leveraging our broad IP portfolio and leadership in design, integration and advanced packaging.

Our investments in technologies such as our custom-ready chiplet platform and AMD Infinity Fabric™ switch position us to maintain our leadership as a custom-design silicon provider of choice.

We believe AI is shaping the next era of computing and its full potential will be realized when it becomes pervasive across cloud, edge and endpoint devices.

With our compute engines, intellectual property, software enablement and deep expertise, AMD is positioned to lead in this next computing era.

Our broad portfolio spans supercomputing, cloud, edge, embedded and end devices, providing the unique opportunity to make AMD the end-to-end AI leader.

In 2025, a key priority was accelerating growth in our Data Center segment.

Demand for our data center AI accelerator products was strong as large hyperscale customers, OEMs and ODMs deployed our AMD Instinct™ MI350X Series GPUs.

We advanced our AMD AI GPU roadmap to deliver an annual cadence of leadership for AMD Instinct solutions, beginning with the AMD Instinct MI350 Series GPUs in 2025.

Beyond GPUs, we launched the 5th Gen AMD EPYC™ family of server processors in 2025, which deliver leadership performance and capabilities for a wide range of data center workloads, including AI.

In addition, we previewed our “Helios” AI rack-scale platform solution that incorporates all of our data center products (CPUs, GPUs and Networking) to address the growing AI compute requirements.

We strengthened our AI leadership through a number of strategic acquisitions during the year.

In March 2025, we acquired ZT Group Int’l, Inc.

(ZT Systems), where we retained certain intellectual property and employees associated with the design operations (ZT Design Business).

This acquisition enables us to deliver end-to-end AI solutions and accelerate the design and deployment of AMD-powered AI infrastructure at scale optimized for the cloud.

In October 2025, we sold the ZT data center infrastructure manufacturing business (ZT Manufacturing Business) to Sanmina Corporation (Sanmina).

We made other strategic acquisitions during the year to advance our software capabilities and enable highly optimized solutions across the stack, support co-packaged optics solutions for next-generation AI systems, and bring deep expertise in high-speed inference and reasoning-based AI technologies for large-scale deployments.

Table of Conten t s

We believe that AI systems will require not only powerful chips, but also full-stack innovation across compute, networking, systems architecture and software.

AMD is uniquely positioned to deliver across this stack, combining industry-leading CPUs, GPUs and adaptive SoCs with networking, software and system integration expertise.

We continue to invest in software capabilities and the open ecosystem through the AMD ROCm™ platform, delivering new features for high-performance AI training and inference.

In 2025, we introduced key optimizations and expanded support for frameworks and libraries, improving performance for generative AI workloads and simplifying the developer experience.

In October 2025, we entered into a product purchase agreement with OpenAI OpCo, LLC, (OpenAI) to deploy 6 gigawatts of AMD GPUs, with the deployment of the first gigawatt of capacity powered by our AMD Instinct MI450 series products.

This multiyear strategic partnership with OpenAI demonstrates our continued execution of hardware, software and full-stack solutions roadmaps.

Beginning in the first quarter of fiscal year 2025, we combined the Client and Gaming segments into one reportable segment to align with how we manage our business.

All prior period segment data were retrospectively adjusted.

Our three reportable segments are:

• the Data Center segment, which primarily includes AI accelerators, CPUs for servers, GPUs, APUs, DPUs, AI NICs, FPGAs and SoC products for data centers;

• the Client and Gaming segment, which primarily includes CPUs, APUs, chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services;

• the Embedded segment, which primarily includes embedded CPUs, APUs, FPGAs, SOMs, and adaptive SoC products.

From time to time, the Company may also sell or license portions of its IP portfolio.

In addition to these reportable segments, we have an All Other category, which is not a reportable segment.

Beginning with our fiscal year ending December 27, 2025, we plan to combine the Client and Gaming segments into one reportable segment to align with how we manage our business.

As a result, we will have three reportable segments:

Data Center, Client and Gaming, and Embedded.

Data Center Segment

Data Center Market

The Data Center segment primarily includes server-class CPUs, GPUs, AI accelerators, DPUs, FPGAs, SmartNICs, and Adaptive SoC products.

The Data Center segment primarily includes server-class CPUs, GPUs, AI accelerators, DPUs, AI NICs, FPGAs, and adaptive SoC products.

We leverage our technology to address the computational, visual data processing and AI workload acceleration needs in the data center market.

Modern data centers require high performance, energy efficient, scalable and adaptable compute engines to meet the demand driven by the growing amount of data that needs to be stored, accessed, analyzed and managed.

Different combinations of CPUs, GPUs, DPUs, FPGAs, SmartNICs, and Adaptive SoCs enable the optimization of performance and power for a diverse set of workloads.

Different combinations of CPUs, GPUs, DPUs, AI NICs, FPGAs and adaptive SoCs enable the optimization of performance and power for a diverse set of workloads.

Data Center Products

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EPYC CPUs, which are based on the x86 architecture, are server-specific processors designed for high-performance computing, enterprise IT, supercomputing, and large data centers.

We recently announced our 5th generation AMD EPYC family of server processors, further expanding our high-performance server CPU portfolio.

Our 5th generation AMD EPYC family of server processors delivers improved performance and efficiency for AI, cloud and enterprise workloads.

Data Center GPUs.

Our AMD Instinct family of GPU accelerator products, including AMD Instinct MI200, MI300 and MI325 series, are based on AMD CDNA™ architecture.

AMD Instinct accelerators are designed to address the growing demand for AI training and inferencing and exascale-class scientific computing.

Our visual cloud GPU offerings include products in the Radeon™ PRO V families.

Our AMD Instinct™ family of GPU products, including AMD Instinct MI200, MI300, MI325 and MI350 series, are based on AMD CDNA™ architecture and designed for AI training, inference and exascale-class scientific computing.

We also announced next-generation AMD Instinct MI355X GPUs for large-scale AI deployments.

Our visual cloud GPU offerings include products in the AMD Radeon™ PRO V families.

Our visual cloud data center GPUs include a range of solutions tailored towards workloads requiring remote visualization, such as Desktop-as-a-Service, Workstation-as-a-Service and Cloud Gaming.

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We offer a wide range of FPGAs, adaptive SoCs and acceleration cards for the data center.

Devices include the Virtex™ and Kintex™, Artix™, and Spartan™ FPGA products, as well as Zynq™, Zynq MPSoC, and Versal™ Adaptive SoC products.

Our Alveo™ accelerator cards provide a platform for accelerating multiple data center workloads at the edge or the cloud.

Devices include the Virtex™, Kintex™, Artix™, and Spartan™ FPGA products, as well as Zynq™ and Versal™ adaptive SoCs.

Our Alveo™ accelerator cards provide a platform for accelerating multiple data center workloads at the edge or in the cloud.

Table of Conten t s

Networking Products.

Our Pensando™ DPUs and comprehensive networking software stack offload data center infrastructure services from the host CPU, are used by large Infrastructure as a Service (IaaS) cloud providers to accelerate workload performance for hosted virtualized and bare-metal offerings.

The AMD Solarflare™ portfolio offers a comprehensive low latency networking solution that combines hardware adapters with the Onload™ family of user space networking libraries.

AMD Solarflare products are the preferred networking solution for capital markets, enabling customers to develop a wide range of high-performance applications across the entire trading ecosystem.

Client Segment

Our AMD Pensando™ DPUs and comprehensive networking software stack offload data center infrastructure services from the host CPU and are used by large Infrastructure as a Service (IaaS) cloud providers to accelerate workload performance for hosted virtualized and bare-metal offerings.

We introduced our AMD Pensando “Pollara” 400 AI NICs and “Vulcano” AI NICs, which deliver high-speed connectivity across GPU clusters providing high-performance, AI-ready, flexible solutions for scale-out networking.

The AMD Solarflare™ portfolio continues to offer low latency networking solutions for capital markets, including hardware adapters and the Onload™ user space networking libraries.

Client and Gaming Segment

Client Business

Client Market

Our CPUs and APUs power PCs that have become an integral part of how customers work, learn and play.

Our CPUs and APUs power PCs that are an integral part of how customers work, learn and play.

The Client market encompasses the global personal computing ecosystem, including desktop and notebook PCs sold primarily through OEMs, distributors and select direct customers.

Our products consist mainly of x86 CPUs and APUs marketed under the AMD Ryzen™ and AMD Ryzen™ AI brands for consumer, commercial and enthusiast segments.

Our customers focus on a combination of performance, efficiency, reliability, and value that aligns with their specific use cases.

We built a leadership roadmap across these areas and are continuing to further differentiate end user experiences by infusing AI across our portfolio.

Client Products

Desktop CPUs.

Our CPUs and APUs for desktop platforms currently include the AMD Ryzen and AMD Ryzen Threadripper™ processors.

We launched the Ryzen 9000 series processors featuring “Zen 5” cores, along with X3D models featuring 2nd generation AMD 3D V-Cache™ technology for leadership gaming performance.

Our 7000-series Ryzen desktop processors also feature models which include our 1 st generation AMD 3D V-Cache technology.

Our latest AMD Ryzen G-Series processors integrate advanced graphics.

Our desktop CPU and APU offerings include the AMD Ryzen™ and AMD Ryzen Threadripper™ processors.

The Ryzen 9000 Series processors feature “Zen 5” cores, along with X3D models featuring 2nd generation AMD 3D V-Cache™ technology for leadership gaming performance.

In 2025, we launched processors for gaming and content creation with Ryzen 9 9950X3D and Ryzen 9 9900X3D.

In January 2026, we announced the Ryzen 7 9850X3D, in addition to our Ryzen 7 9800X3D series.

Our Ryzen Threadripper™ 9000 Series processors for professional workstations feature increased core counts, expanded memory bandwidth and updated platform capabilities.

Our portfolio also includes a broad range of Ryzen 9000 and Ryzen series desktop processors featuring a wide range of capabilities and price points for the growing Socket AM5 platform.

In 2025, we released additional AMD Ryzen G Series processors with integrated advanced graphics to extend the longevity of the Socket AM4 platform.

Notebook CPUs.

Our AMD Ryzen mobile processors offer a leadership combination of performance, battery life, and immersive visual experiences for PCs.

We released AMD Ryzen AI 300 Series processors featuring a NPU for next-generation AI PCs featuring our latest “Zen 5” architecture in 2024.

Our AMD Ryzen 8000 Series mobile processors, built on the “Zen 4” feature our first generation NPU, and AMD Ryzen 6000 and 5000 Series mobile processors, which are powered by both our “Zen 2” and “Zen 3+” core architectures, address mainstream consumer and commercial markets.

Our AMD Ryzen Z1 Series deliver immersive experiences for handheld gaming systems.

Our latest mobile processors are designed to deliver premium laptop experiences with local AI.

In 2025, we launched AMD Ryzen AI 300 Series processors featuring a next generation NPU supporting Microsoft Copilot+ PCs, our latest “Zen 5” architecture and our AMD RDNA™ 3.5 graphics architecture.

In January 2026, we launched our Ryzen AI 400 series processors, the next generation of processors for AI PCs.

Building on our AI PC momentum, we expanded our portfolio by introducing Ryzen AI-powered platforms across notebooks and mini desktops and introduced a new reference platform for AI developers in January 2026, the Ryzen AI Halo, that features up to 128GB of memory for large AI model support.

We also expanded the Ryzen AI Max processor lineup with the Ryzen AI Max+392 and Ryzen AI Max+388 to enable wider price points for our maximum GPU configurations.

Our AMD Ryzen 8000 Series mobile processors, built on the “Zen 4” architecture feature our first generation NPU, and our Ryzen 10 and 100 series mobile processors, powered by both our “Zen 2” and “Zen 3+” core architectures, all address mainstream consumer and commercial markets.

For handheld gaming systems, our Ryzen Z1 Series continues to deliver immersive experiences, and we introduced the Ryzen Z2 Series, bringing higher efficiency and improved graphics performance for portable gaming devices including the new Asus ROG Xbox Ally.

Table of Conten t s

Commercial CPUs.

The AMD PRO solutions include mobile laptops, desktops and workstations for large enterprise, mid-market and the small and medium business (SMB) customers.

Our AMD PRO technology solution offers enterprise-class security features manageability, reliability and extended image stability, for commercial client PCs.

We launched our AMD Ryzen AI PRO 300 series, bringing world-class security and manageability and leadership productivity, battery life, and AI capabilities to business notebooks and mobile workstations.

Our commitment to high performance leadership continued with the launch of AMD Ryzen PRO 200 Series mobile processors that expand our commercial CPU portfolio to enable PCs spanning a range of price points.

The AMD Ryzen PRO 8000G series desktops offer an integrated AI desktop solution for enterprises, and our AMD Ryzen Threadripper PRO CPU enables leadership performance for premium workstations.

We offer a full suite of chipset products to support our AMD Ryzen and AMD Threadripper platforms, for entry level through professional workstation desktop systems.

Gaming Segment

AMD Ryzen PRO solutions deliver enterprise-class security, manageability, and reliability for commercial client PCs including business notebooks, desktops, and workstations.

In 2025, we reinforced our leadership in commercial computing with new Ryzen PRO offerings that integrate AI capabilities, delivering performance, mobility, and enterprise features for our customers.

Our AMD Ryzen AI PRO 300 Series, brings world-class security and manageability, with leadership productivity, battery life and AI capabilities to business notebooks and mobile workstations.

With the announcement of our Ryzen AI 400 PRO Series, we continued to expand our next gen AI PC leadership and offerings.

In 2025, we also launched the AMD Ryzen PRO 200 Series mobile processors that expand our commercial CPU portfolio enabling high performance PCs spanning a range of price points.

For desktops, the AMD Ryzen PRO 8000G Series desktops offer an integrated AI solution for enterprises, and our AMD Ryzen Threadripper PRO CPU enables leadership performance, expanded memory bandwidth and platform reliability for premium workstations.

We offer a full suite of chipset products to support our AMD Ryzen and AMD Ryzen Threadripper platforms, for entry level through professional workstation desktop systems.

These chipsets complement our latest CPU innovations, supporting robust connectivity and scalability for diverse client computing needs.

Gaming Business

Graphics Market

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Our semi-custom products are tailored, high-performance, customer-specific solutions based on CPU, GPU and multi-media technologies.

We work closely with our customers to define solutions to precisely match the requirements of the device or application.

AMD semi-custom SoC products power the Sony PlayStation ® 5, the Microsoft ® Xbox Series S™ and X™ game consoles, as well as the Valve Steam Deck PC.

In 2024, Sony launched the PlayStation 5 Pro with additional graphics performance and AI capabilities compared to the original PlayStation 5.

We work closely with our customers to define solutions precisely matching their system requirements.

AMD semi-custom SoC products power the Sony PlayStation ® 5, the Microsoft ® Xbox Series S™ and X™ game consoles, as well as the recently revealed Valve Steam Machine PC.

Discrete Desktop and Notebook GPUs .

Our AMD Radeon discrete GPU processors for desktop and notebook PCs support current generation application programming interfaces (APIs) like DirectX® 12 Ultimate and Vulkan ® , support high-refresh rate displays and include the latest technologies for immersive gaming experiences and high-performance AI/ML computing.

Our current Radeon RX 7000 Series graphics, based on the AMD RDNA™ 3 architecture, deliver high performance for the latest gaming and creation workloads.

Our AMD Radeon RX discrete GPU processors for PCs power the latest gaming and creation platforms.

In 2025, we released our Radeon RX 9000 Series graphics cards, based on a new AMD RDNA™ 4 architecture, designed for increased AI performance, new levels of ray tracing capabilities and enhanced performance per watt to deliver new levels of performance for gamers and creators.

All of our graphics products are supported by the AMD software:

Adrenalin Edition™ application that is regularly enhanced to provide the latest in performance, features, and stability.

Adrenalin Edition™ application, which is regularly enhanced to provide the latest in performance, features, and stability.

We also released FSR “Redstone” gaming technologies to integrate Machine Learning for improved performance and visuals on our Radeon RX 9000 graphics cards.

Professional GPUs.

Our AMD Radeon PRO family of professional graphics products are designed for integration in desktop workstations, optimized through hardware and software for demanding use cases such as 3D rendering, design and manufacturing for Computer-Aided Design (CAD), and media and entertainment for broadcast and animation pipelines on high resolution displays.

In 2025, we launched our Radeon AI PRO R9000 Series of graphics cards, intended for local AI inference and creative workloads enabling professionals to accelerate AI-driven content creation and advanced visualization tasks directly on their workstation.

Table of Conten t s

Embedded Segment

The Embedded Market

The Embedded segment primarily includes embedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products.

Embedded products address computing needs in aerospace and defense, automotive, industrial, vision and healthcare, communications infrastructure, test measurement, emulation and prototyping, audio, video and broadcasting, and data center.

The Embedded segment primarily includes embedded CPUs, APUs, FPGAs, and adaptive SoC products.

Embedded products address computing needs in aerospace and defense, automotive, industrial, vision and healthcare, communications infrastructure, test and measurement, emulation and prototyping, audio, video and broadcasting, and data center.

Typically, our embedded products are used in applications that require varying levels of performance, where key features may include relatively low power, small form factors, and 24x7 operations.

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Other requirements may include meeting rigid specifications for industrial temperatures, shock, vibration and reliability.

The embedded market has moved from developing proprietary, custom designs to leveraging industry-standard instruction set architectures and processors as a way to help reduce costs and speed time to market.

The embedded market has moved from developing proprietary, custom designs to leveraging industry-standard instruction set architectures and processors to help reduce cost and speed time to market.

Embedded Products

Embedded CPUs, APUs and GPUs .

Our products for embedded platforms include AMD EPYC Embedded CPUs, AMD Ryzen Embedded series processors including V-Series APUs and CPUs and R-Series APUs and CPUs, and Radeon Embedded GPUs.

Our embedded processors and GPUs are designed to support high performance compute, high-bandwidth network connectivity and security, high-performance storage requirements for enterprise and cloud infrastructure, 3D graphics performance and 4K multimedia requirements of automotive infotainment systems.

Embedded CPUs and APUs .

Our embedded portfolio expanded in 2025 with the introduction of three new AMD EPYC embedded processor series:

AMD EPYC Embedded 9005 Series, EPYC Embedded 4005 Series processors and EPYC Embedded 2005 Series.

These new series deliver enhanced performance and extended lifecycles for networking, storage, and edge server applications.

We also launched the AMD Ryzen Embedded 9000 Series processors, offering performance-per-watt and low latency for automation systems and machine vision applications.

In January 2026, we introduced a new family of Ryzen AI Embedded series processors with two new series:

the Ryzen AI Embedded P100 and Ryzen AI Embedded X100 Series.

These additions complement our existing AMD EPYC Embedded CPUs and AMD Ryzen Embedded Series processors including V-Series APUs and CPUs and R-Series APUs and CPUs.

Our embedded solutions are designed to support high performance compute, high-bandwidth network connectivity and security, high-performance storage requirements for enterprise and cloud infrastructure, 3D graphics performance and 4K multimedia requirements of automotive infotainment systems.

FPGAs and Adaptive SoCs.

O ur FPGA products are hardware-customizable devices that can be tailored to meet the specific needs of each customer, enabling them to differentiate their products and accelerate time to market.

Our FPGA families include AMD UltraScale+™, UltraScale™ 7 Series, and other older series.

Adaptive SoC products include the AMD Zynq™ SoC and Zynq UltraScale+ Multi-Processing System-on-a-Chip (MPSoC), which combine FPGA technology with a heterogeneous processing system, as well as the industry’s first RFSoC architecture with integrated radio frequency (RF) data converters (Zynq UltraScale+ RFSoC).

The AMD Versal™ portfolio, composed of software-programmable Adaptive SoCs, is a heterogeneous compute platform that combines a processing system, programmable logic, AI Engines, and digital signal processing (DSP) Engines to achieve dramatic system-level performance improvements over today's fastest FPGA competitors’ solutions and accelerates applications in a wide variety of markets, including aerospace and defense, automotive, industrial, vision and healthcare, communications infrastructure, test measurement, emulation and prototyping, audio, video and broadcasting, and data center.

Our FPGA families include AMD UltraScale+™, UltraScale™ 7 Series, and other earlier series.

The AMD Versal™ portfolio, composed of software-programmable adaptive SoCs, is a heterogeneous compute platform that combines a processing system, programmable logic, AI Engines, and digital signal processing (DSP) Engines.

The Versal devices achieve dramatic system-level performance improvements over today's fastest FPGA competitors’ solutions and accelerate applications in a wide variety of markets, including aerospace and defense, automotive, industrial, vision and healthcare, communications infrastructure, test and measurement, emulation and prototyping, audio, video and broadcasting, and data center.

Our Versal RF Series delivers compute performance for aerospace and defense applications.

We introduced our Versal Premium Series Gen 2, the first adaptive compute devices supporting next-generation CXL® and PCIe® connectivity.

Development Boards, Kits and Configuration Products.

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These kits include hardware, development tools, IP, and reference designs that streamline and accelerate the development of domain-specific and market-specific applications.

Our AMD Kria™ K24 SOM provides high determinism and low latency for powering electric drives and motor controllers used in compute-intensive DSP applications at the edge.

We continue to enhance developer productivity with expanded support for AMD Kria™ SOMs and starter kits, enabling rapid prototyping and deployment for motor control and edge AI applications.

Our Kria K24 SOM provides high determinism and low latency for powering electric drives and motor controllers used in compute-intensive DSP applications at the edge.

Coupled with our Kria KD240 Drives Starter Kit, an out-of-the-box-ready motor control-based development platform, the products offer a seamless path to production deployment.

Legacy Product Families.

We offer prior generation high-end Virtex™ and low-end Spartan™ FPGA families as well as the original Virtex and Spartan families.

Our prior generations of Complex Programmable Logic Devices (CPLD) include the CoolRunner™ and XC9500 product families.

CPLDs are single-chip, nonvolatile solutions characterized by instant-on and universal interconnect and operate on the lowest end of the programmable logic density spectrum.

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Design Platforms and Services

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Sales and Marketing

We sell our products through our direct sales force and through independent distributors and sales representatives in both domestic and international markets.

We sell our products via a direct sales force, our OEMs (as described in detail below) and through independent distributors and sales representatives in both domestic and international markets.

Our sales arrangements generally operate on the basis of product forecasts provided by the particular customer, but do not typically include any commitment or requirement for minimum product purchases.

We primarily use product quotes, purchase orders, sales order acknowledgments and contractual agreements as evidence of our sales arrangements.

We use purchase orders and related documents, and contractual agreements as evidence of our sales arrangements.

Our agreements typically contain standard terms and conditions covering matters such as payment terms, warranties and indemnities for issues specific to our products.

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Our product brand for server microprocessors is AMD EPYC™ processors.

Our product brands for data center graphics are AMD Instinct™ accelerators, and Radeon PRO V-series.

Our product brands for data center graphics are AMD Instinct™ accelerators and AMD Radeon™ PRO V Series.

Our product brands for data center networking are AMD Pensando™ Pollara 400 AI NIC and AMD Pensando Salina DPU.

Our product brand for low-latency adapters for FinTech is AMD Solarflare™ adapters.

Our client product brands for desktop and notebook PCs include:

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Our FPGA products are Virtex™ 6, Virtex 7, Virtex UltraScale+, Kintex™ 7, Kintex UltraScale™, Kintex UltraScale+, Artix™ 7, Artix UltraScale+, Spartan™ 6, and Spartan 7 brands.

Our product brands for Adaptive SoCs are Zynq-7000, Zynq UltraScale+ MPSoC, Zynq UltraScale+ RFSoCs, Versal HBM, Versal Premium, Versal Prime, Versal AI Core, Versal AI Edge, Vitis, and Vivado.

Our product for System-on-Module (SOM) is Kria™ brand.

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Our product brands for adaptive SoCs are Zynq™ 7000, Zynq UltraScale+™ MPSoC, Zynq UltraScale+ RFSoCs, Versal™ HBM, Versal Premium, Versal Prime, Versal™ AI Core and Versal AI Edge.

The software tools for our programmable devices are Vitis™, Vitis AI™, and Vivado™ tools.

Our System-on-Module (SOM) product is the Kria™ brand.

We also sell low-power versions of our AMD Athlon™, as well as AMD Geode™, AMD Ryzen™, AMD EPYC™,

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ODMs provide design and/or manufacturing services to branded and unbranded private label resellers, OEMs and system builders.

Our Client Segment customers consist primarily of PC OEMs, a network of independent distributors and, for chipset products, ODMs that manufacture motherboards.

Our Gaming Segment customers include PC OEMs and independent distributors as well as add-in-board manufacturers (AIBs), independent game console and portable gaming devices manufacturers and contract manufacturers for AMD branded graphics cards.

Our Embedded Segment products are sold to customers in a very wide range of markets such as aerospace and defense, automotive, industrial, vision and healthcare, communications infrastructure, test measurement, emulation and prototyping, audio, video and broadcasting, and data center.

Our Client and Gaming Segment customers consist primarily of PC OEMs, a network of independent distributors and, for chipset products, ODMs that manufacture motherboards.

PC OEMs and independent distributors as well as add-in-board manufacturers (AIBs), independent game console and portable gaming devices manufacturers and contract manufacturers for AMD branded graphics cards.

Our Embedded Segment products are sold to customers in a very wide range of markets such as aerospace and defense, automotive, industrial, vision and healthcare, communications infrastructure, test and measurement, emulation and prototyping, audio, video and broadcasting and data center.

For these products, we either sell directly to our customers or through a network of distributors and OEM partners.

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We believe that our commitment to customer service and design support improves our customers’ time to market and fosters relationships that encourage customers to use the next generation of our products.

We also work with our customers to create differentiated products that leverage our CPU, GPU, APU, DPU and FPGA technology.

We also work with our customers to create differentiated products that leverage our CPU, GPU, APU, DPU, AI NIC, and FPGA technology.

Certain customers pay us non-recurring engineering fees for design and development services and a purchase price for the resulting products.

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Our OEM customers include numerous foreign and domestic manufacturers of servers and workstations, desktops, notebooks, PC motherboards and game consoles.

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Hyperscale Data Centers

Large multi-national public cloud service providers and hyperscale private data centers directly and indirectly purchase a substantial portion of our data center-focused products, including server CPUs, GPU accelerators, DPUs, FPGAs and Adaptive SOCs.

These products are incorporated into servers and other data center appliances sold by OEMs to the hyperscale customers or into custom servers or hardware designed by or for these customers and manufactured by ODMs or contract manufacturers.

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Distributors typically maintain an inventory of our products.

In most instances, our agreements with distributors protect their inventory of our products against price reductions and provide certain return rights with respect to any product that we have removed from our price book or otherwise subject to discontinuation.

In addition, some agreements with our distributors may contain standard stock rotation provisions permitting limited product returns.

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SIs often use discrete graphics solutions as a means to differentiate their products and add value to their customers.

The markets in which our products are sold are highly competitive and delivering the latest and best products to market on a timely basis is critical to achieving revenue growth.

We believe that the main factors that determine our product competitiveness are total cost of ownership, timely product introductions, product quality, product features and capabilities (including accelerations for key workloads such as AI), energy efficiency (including power consumption and battery life, given their impact on total cost of ownership), reliability, performance, size (or form factor), selling price, cost, adherence to industry standards (and the creation of open industry standards), level of integration, software and hardware compatibility, ease of use and functionality of software design tools, completeness of applicable software solutions, security and stability, brand recognition and availability.

We expect that competition will continue to be intense due to rapid technological changes, frequent product introductions by our competitors or new competitors of products that may provide better performance or experiences or that may include additional features that render our products comparatively less competitive.

The markets in which our products are sold are highly competitive and rapidly evolving and delivering the latest and best products to market on time is critical to revenue growth.

The competitiveness of our products depends on a number of factors including, performance, total cost of ownership, timely product introductions, product quality and reliability, product features and capabilities, energy efficiency (including power consumption and battery life, given their impact on total cost of ownership), size (or form factor), selling price, cost, adherence to industry standards (and the creation of open industry standards), level of integration, software and hardware compatibility, ease of use and functionality of software design tools, completeness of applicable software solutions, security and stability, brand recognition and availability.

Competition is expected to remain intense, driven by rapid technological change, evolving standards, shifting customer preferences, product obsolescence, and frequent product launches from both established and new competitors.

Competition in Data Center Segment

In the Data Center segment, we compete primarily against Intel Corporation (Intel) and NVIDIA Corporation (NVIDIA) with our CPU, GPU and DPU server products.

In addition, we compete against Intel with our FPGA and Adaptive SoC server products.

In the Data Center segment, we compete primarily against Intel Corporation (Intel) and Nvidia Corporation (Nvidia with our CPU, GPU DPU and AI NIC server products.

In addition, we compete against Altera with our FPGA and adaptive SoC server products.

A variety of smaller fabless silicon companies offer proprietary accelerator solutions and Arm®-based CPUs targeting data center use cases.

In addition, some of our customers are internally developing their own data center microprocessor products and accelerator products which could impact the available market for our products.

Competition in Client Segment

Competition in Client and Gaming Segment

Our primary competitor in the supply of CPUs and APUs is Intel.

A variety of companies provide or have developed Arm-based microprocessors and platforms which could lead to further adoption of Arm-based PC solutions.

Competition in Gaming Segment

In the graphics market, our principal competitor in the supply of discrete graphics is NVIDIA, who is the discrete GPU market share leader, and Intel, who manufactures and sells integrated graphics processors and gaming-focused discrete GPUs.

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Our principal competitor in the supply of discrete graphics is Nvidia, who is the discrete GPU market share leader, and Intel, who manufactures and sells integrated graphics processors and gaming-focused discrete GPUs.

With respect to integrated graphics, higher unit shipments of our APUs and Intel’s integrated graphics may drive computer manufacturers to reduce the number of systems they build paired with discrete graphics components, particularly for notebooks, because they may offer satisfactory graphics performance for most mainstream PC users at a lower cost.

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Competition in Embedded Segment

We expect continued competition from our primary FPGA competitors such as Intel, Lattice Semiconductor Corporation and Microsemi Corporation, and from ASSP vendors such as Broadcom Corporation, Marvell Technology Group, Ltd., Analog Devices, Texas Instruments Incorporated and NXP Semiconductors N.V., and from Qualcomm Incorporated and NVIDIA.

We expect continued competition from our primary FPGA competitors such as Altera, Lattice Semiconductor Corporation and Microsemi Corporation, and from ASSP vendors such as Broadcom Corporation, Marvell Technology Group, Ltd., Analog Devices, Texas Instruments Incorporated, NXP Semiconductors N.V., Qualcomm Incorporated and NVIDIA.

In addition, we expect continued competition from the ASIC market, which has been ongoing since the inception of FPGAs.

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We focus our research and development (R&D) activities on designing and developing products.

Our main area of focus is on delivering the next generation of processors (CPU and GPU), FPGAs and Adaptive SoCs, accelerators (adaptive, graphics and DPU), SOMs and SmartNICs and associated software.

Our main area of focus is on delivering the next generation of processors (CPU and GPU), FPGAs and adaptive SoCs, accelerators (adaptive, graphics and DPU), SOMs and AI NICs, and the associated software for these products.

We focus on designing, with security in mind, new integrated circuits (ICs) with improved performance and performance-per-watt in advanced semiconductor manufacturing processes, the design of logic and interface IP, advanced packaging technologies, and heterogeneous integration technologies.

We also focus on software as part of the development of our products, including design automation tools for hardware, embedded software, optimized software tools and libraries that extend the reach of our platforms to software and AI developers.

We also focus on software as part of the development of our products, including design automation tools for hardware, embedded software, AI stack, and optimized software tools and libraries that extend the reach of our platforms to software and AI developers.

Through our R&D efforts, we were able to introduce a number of new products and enhance our IP core offerings and software.

We also work with industry leaders on process technology, design tools, intellectual property, software and other industry consortia to conduct early-stage R&D.

We are also actively contributing to numerous industry open-source software initiatives across a broad range of technologies.

We are also actively contributing to numerous industry open-source software initiatives and industry consortia across a broad range of technologies.

We conduct product and system R&D activities for our products in the United States with additional design and development engineering teams located in various countries who undertake specific activities at the direction of our U.S.

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(SPIL) and King Yuan Electronics Company (KYEC) provide ATMP services for our products.

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Intellectual Property and Licensing

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We do not believe that any individual patent, or the expiration of any patent, is or would be material to our business.

As is typical in the semiconductor industry, we have numerous cross-licensing and technology exchange agreements with other companies under which we both transfer and receive technology and intellectual property rights.

We have acquired various licenses from external parties to certain technologies that are implemented in our products, including our IP cores and devices.

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As of December 27, 2025, we had approximately 31,000 employees in our global workforce.

We believe we are at our best when our culture of innovation, creative minds and people from all kinds of backgrounds work together in an engaging and open environment.

Areas of focus for us include the following:

We believe we are at our best when our culture of innovation and people from all kinds of backgrounds work together in an engaging and open environment.

Areas of focus for us include:

Mission, Culture, and Engagement

Our History - Founded in 1969 as a Silicon Valley start-up, the AMD journey began with dozens of employees focused on leading-edge semiconductor products.

From those modest beginnings, we have grown into a global

company achieving many important industry firsts along the way.

Today, we develop high-performance and adaptive computing to solve some of the world’s toughest and most interesting challenges.

Founded in 1969 as a Silicon Valley start-up, the AMD journey began with dozens of employees focused on leading-edge semiconductor products.

From those modest beginnings, we have grown into a global company achieving many important industry firsts along the way.

Today, we develop AI and high-performance computing to solve some of the world’s toughest challenges.

Our Vision - High performance and adaptive computing is transforming our lives.

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Our employees are driven by this vision and mission.

Innovation occurs when creative minds and diverse perspectives from all over the world work together.

Innovation occurs when creative minds and diverse perspectives work together.

This is the foundation of our unique culture and the reason we believe our employees are among the most engaged in our industry.

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Results from our 2025 survey reported scores that continued to be among the very best for global companies in the technology industry.

Our employees described our culture as inclusive, innovative, open, and respectful, and rated the quality of our managers high, and employment engagement is among the top 10% of our high-performing technology industry peers.

Diversity, Belonging and Inclusion (DB&I)

Our diverse and inclusive workforce encourages employees to share their opinions and different perspectives.

We believe that building a diverse talent pipeline, encouraging a culture of respect and belonging, and increasing inclusion of unique and underrepresented voices makes our company stronger.

Our Employee Resource Groups (ERGs), which are open to all our employees, encourage employee engagement and play an important role in our culture.

More than 85% of all new hires join at least one of AMD’s ERGs when starting employment.

In 2024, we continued to focus on developing our female engineering community through mentoring opportunities and expanding the program, “Advancing Women in Technology,” that aims to support the career development of women in technical careers at AMD.

Our diverse workforce allows us to create an inclusive workplace that encourages employees to share their opinions and different perspectives.

We believe that having a diverse talent pipeline, encouraging a culture of respect and belonging, and enabling unique voices to be heard fosters innovation and makes our company stronger.

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Employee Resource Groups (ERGs) encourage employee engagement and play an important role in our culture.

ERGs are voluntary initiatives in which an employee chooses to actively participate in one or more employee engagement programs.

In 2025, we broadened our commitment to developing our engineering talent by expanding mentoring opportunities and career development programs for engineering professionals at AMD.

Total Rewards

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We also benchmark set pay ranges based on relevant market data and our overall workforce.

We focus on flexibility and choice in our benefits that resonate with a multi-generational workforce as well as offering inclusive benefits that support our DB&I objectives, such as global parental and bereavement leave, and financial assistance to build a family through adoption or surrogacy.

While we believe that there is unique collaboration that can occur when employees meet in person, we embrace flexibility with hybrid and remote work as options for our employees.

We have a strong pay for performance culture that we believe drives superior results.

Our employees have benefited from our robust financial results through our strong short-term and long-term incentive programs.

Our rewards programs enable us to attract, retain and motivate our workforce.

We focus on flexibility and choice in our benefits that resonate with a multi-generational workforce as well as offering inclusive benefits.

We also provide flexibility with in-person, hybrid and remote work as options for our employees.

We have a strong pay for performance culture that we believe drives superior results and our rewards programs enable us to attract, retain and motivate our workforce.

We offer our employees opportunities to advance their careers at the Company and the majority of our new leaders are promoted from within.

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The program also supports effective onboarding, helping new hires more quickly acclimate to our company culture and work processes.

We believe that our mentoring program is a valuable investment in our workforce, and we are committed to its ongoing success.

Employee Voice

At AMD, we value the importance of employee voice and actively engage in efforts to ensure that our employees' opinions and perspectives are heard and considered.

Our employee voice strategy includes an annual AMDer Survey (engagement survey).

Our scores rank AMD in the top 10% of high-tech firms on similar questions, categories and overall score.

Our employee voice strategy includes an annual AMDer Survey (engagement survey) referenced above.

Additionally, we measure effectiveness across all elements of the employee lifecycle, including onboarding, exit, and regularly seek out employee feedback on areas including benefits and total rewards satisfaction.

Further, our executive team holds frequent employee roundtables, town halls and global team meetings with question-and-answer segments which facilitate open communication and feedback from our workforce.

Further, our executive team holds frequent employee roundtables, town halls and global team meetings, which facilitate open communication and feedback from our workforce.

Government Regulations

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Environmental laws are complex, change frequently and tend to become more stringent over time.

For example, the European Union (EU) and China are among a growing number of jurisdictions that have enacted restrictions on the use of lead and other materials in electronic products.

These regulations affect semiconductor devices and packaging.

Jurisdictions including the EU, Australia, California and China are developing or have finalized market entry or public procurement regulations for computers and servers based on ENERGY STAR specifications as well as additional energy consumption limits.

Certain environmental laws, including the United States Comprehensive, Environmental Response, Compensation and Liability Act of 1980, or the Superfund Act, impose strict or, under certain circumstances, joint and several liability on current and previous owners or operators of real property for the cost of removal or remediation of hazardous substances and impose liability for damages to natural resources.

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Certain environmental laws, including the United States Comprehensive, Environmental Response, Compensation and Liability Act of 1980, or the Superfund Act, impose strict and, under certain circumstances, joint and several liability on current and previous owners or operators of real property for the cost of removal or remediation of hazardous substances and impose liability for damages to natural resources.

These laws often impose liability even if the owner or operator did not know of, or was not responsible for, the release of such hazardous substances.

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Such persons can be responsible for cleanup costs even if they never owned or operated the contaminated facility.

We have been named as a responsible party on Superfund clean-up orders for three sites in Sunnyvale, California that are on the National Priorities List.

Since 1981, we have discovered hazardous material releases to the groundwater from former underground tanks and proceeded to investigate and conduct remediation at these three sites.

The chemicals released into the groundwater were commonly used in the semiconductor industry in the United States in the wafer fabrication process prior to 1979.

We have been named as a responsible party at three Superfund Sites in Sunnyvale, California that are on the National Priorities List.

Since 1981, we have discovered hazardous material releases to the soil and groundwater from former underground tanks and proceeded to investigate and conduct remediation at these three sites.

The chemicals released into the groundwater were commonly used in the semiconductor industry in the United States in the wafer fabrication process.

In 1991, we received Final Site Clean-up Requirements Orders from the California Regional Water Quality Control Board relating to the three sites.

We have entered into settlement agreements with other responsible parties on two of the orders.

During the term of such agreements, other parties have agreed to assume most of the foreseeable costs as well as the primary role in conducting remediation activities under the orders.

We remain responsible for additional costs beyond the scope of the agreements as well as all remaining costs in the event that the other parties do not fulfill their obligations under the settlement agreements.

We entered into an agreement with another responsible party with respect to one of the sites.

Pursuant to that agreement, the other party is responsible for cleanup of certain offsite contamination.

We remain responsible for cleanup not covered by the agreement, including on-site cleanup, as well as all remaining costs in the event that the other party does not fulfill its obligations under the agreement.

To address anticipated future remediation costs under the orders, we have computed and recorded an estimated environmental liability of approximately $5.9 million and have not recorded any potential insurance recoveries in determining the estimated costs of the cleanup.

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We believe that any amount in addition to what has already been accrued would not be material.

Additional environmental regulations on materials, chemicals, energy and waste apply directly or indirectly to the design, manufacturing, use and end-of-use of semiconductor devices and solutions.

As examples, the European Union (EU) and China are among a growing number of jurisdictions that have enacted restrictions on the use of lead and other materials in electronic products.

Chemical reporting and restriction requirements continue to evolve, namely related to per- and polyfluoroalkyl substances (PFAS).

Jurisdictions including the EU, California and China are developing or have finalized product energy efficiency regulations impacting market access and/or public procurement for computers and servers.

Existing and developing regulations related to electronic waste recycling and extended producer responsibility, including the EU, China, Brazil, India, as well as state and municipal jurisdictions like California and Sao Paulo Brazil, require labeling, fees and/or reporting to support recycling efforts.

Certain of these laws target end-user products.

However, the scope of such laws is inconsistent, which increases the complexity of compliance.

We continue to work with customers, suppliers and industry groups to monitor and address product-related environmental regulations.

While compliance has not historically had a material impact on our financial condition, earnings, or competitive position, there can be no assurance that these evolving laws will not require us to incur significant costs, modify our operations or product designs, or take other actions for compliance.

Additional Information

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References in this report to 2025, 2024 and 2023 refer to the fiscal year unless explicitly stated otherwise.

AMD, the AMD Arrow logo, 3D V-Cache, AMD Athlon, AMD CDNA, AMD FidelityFX, AMD FirePro, AMD FreeSync, AMD Instinct, AMD RDNA, Alveo, Artix, CoolRunner, EPYC, Geode, Infinity Fabric, Kinex, Kria, Opteron, Pensando, Radeon, ROCm, Ryzen, Spartan, Threadripper, UltraScale, UltraScale+, Versal, Virtex, Vitis, Vivado, XDNA, Xilinx, Zynq and combinations thereof are trademarks of Advanced Micro Devices, Inc.

Microsoft, Windows, DirectX and Xbox One are registered trademarks of Microsoft Corporation in the United States and/or other countries.

AMD, the AMD Arrow logo, 3D V-Cache, Alveo, Athlon, Atrix, CDNA, CoolRunner, EPYC, FidelityFX, FirePro, FreeSync, Geode, Infinity Fabric, AMD Instinct, Kintex, Kria, Opteron, Pensando, Radeon, RDNA, ROCm, Ryzen, Spartan, Threadripper, UltraScale, UltraScale+, Versal, Virtex, Vitis, Vivado, XDNA, Xilinx, Zynq and combinations thereof are trademarks of Advanced Micro Devices, Inc.

Microsoft, Windows, and Xbox One are registered trademarks of Microsoft Corporation in the United States and/or other countries.

Linux is the registered trademark of Linus Torvalds in the United States and/or other countries.

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Arm is a registered trademark of Arm Limited (or its subsidiaries) in the United States and/or other countries.

Vulkan and the Vulkan logo are registered trademarks of Khronos Group Inc.

Steam Deck and the Steam Deck logo are trademarks and/or registered trademarks of Valve Corporation in the United States and/or other countries.

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Other names are for informational purposes only and are used to identify companies and products and may be trademarks of their respective owners.

Website Access to Our SEC Filings and Corporate Governance Documents

On the Investor Relations pages of our website, http://ir.amd.com, we post links to our filings with the SEC, our Principles of Corporate Governance, our Code of Ethics for our executive officers, all other senior finance executives and certain representatives from legal and internal audit, including our Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer and persons performing similar functions, our Worldwide Standards of Business Conduct, which applies to our Board of Directors and all of our employees, and the charters of the committees of our Board of Directors.

On the Investor Relations pages of our website, http://ir.amd.com, we post links to our filings with the SEC, our Principles of Corporate Governance, our Code of Ethics for our executive officers, all other senior finance executives and certain representatives from legal and internal audit, including our Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer and persons performing similar functions, our Global Code of Conduct, which applies to our Board of Directors and all of our employees, and the charters of the committees of our Board of Directors.

Our filings with the SEC are posted on our website as soon as reasonably practical after they are electronically filed with, or furnished to, the SEC.

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The information contained on our website is not incorporated by reference in, or considered to be a part of, this report.

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business