On August 4, AMD reported Q2 2026 revenue of $11.54 billion, clearing the analyst consensus of roughly $11.3 billion. AMD spent $808 million in the quarter, nearly three times the analyst expectation of $298 million. AMD projected Q3 2026 revenue of approximately $13 billion, plus or minus $300 million. The AMD vs. Nvidia contextNvidia’s H100 and its successors have become the default infrastructure choice for large-scale AI training workloads. The Q3 guidance range of approximately $13 billion gives AMD room to beat again, which could reset sentiment if the company executes.