AMD预计明年数据中心营收翻倍以上，AI需求激增
AMD在第二季度财报电话会议上表示，预计2027年数据中心业务营收将增长一倍以上，因AI基础设施需求持续加速。该公司未提供具体数字。此消息反映AI芯片需求强劲，可能影响相关元器件供应链。
原文深度解读
本文报道了AMD在2026年第二季度财报电话会议上的声明，预计2027年数据中心业务营收将同比增长超过一倍，主要受AI基础设施需求推动。文章涉及AMD CEO Lisa Su、OpenAI、Meta、Anthropic、Microsoft等主体，关键时间点为2026年8月4日会议、2027年预期、2030年市场预测。关键数字包括：2027年数据中心营收翻倍、服务器CPU 2026下半年增长80%、2027年再增70%、AI加速器增长超100%、Helios部署规模达2GW、服务器CPU市场2030年达2200亿美元、Q2营收115.4亿美元、数据中心营收67亿美元、Q3预测130亿美元。与电子元器件供应链的关系：AMD的产能扩张（晶圆、先进封装、基板）和供应链紧张直接影响相关元器件需求与供应。
- AMD预计2027年数据中心营收同比增长超过一倍，基于AI基础设施需求加速。
- 服务器CPU营收预计2026年下半年同比增长超80%，2027年再增超70%。
- 数据中心AI业务预计增长超100%，AI加速器增速快于服务器CPU。
- Anthropic计划部署AMD下一代AI机架系统Helios，规模达2GW，首批1GW于2027年上半年开始；Microsoft也承诺在Azure中部署Helios。
- AMD重申服务器CPU供应链紧张，上半年一直紧张，大量需求未纳入预测；公司正增加晶圆、先进封装和基板产能，预计2027年供应改善。
- AMD将2030年服务器CPU市场预测从2025年11月的18%年增长、2026年5月的1200亿美元（35%年增长）上调至2200亿美元（50%以上年增长），归因于代理式AI采用。
供应链影响
- AMD服务器CPU供应链紧张可能持续至2027年，影响相关服务器CPU、封装和基板供应商的订单分配。
- Helios系统的大规模部署（2GW）可能带动AI加速器、电源、散热和网络组件的需求增长，具体取决于部署进度。
- AMD增加晶圆、先进封装和基板产能可能缓解供应瓶颈，但可能受限于上游设备与材料供应。
- 服务器CPU市场预测上调至2200亿美元可能反映长期需求强劲，但实际增长取决于AI采用速度。
- AI加速器增长快于服务器CPU可能改变供应链重心，影响相关元器件投资方向。
系统解读，仅作为判断线索，不构成备货、出货、涨价或投资建议。
AMD董事长兼首席执行官苏姿丰（Lisa Su）。（图片来源：AMD）
AMD在第二季度财报电话会议上表示，随着人工智能基础设施需求持续加速，预计其数据中心业务在2027年将增长一倍以上。
“我们预计2027年数据中心营收将同比增长超过一倍，”AMD董事长兼首席执行官苏姿丰在8月4日表示。
AMD的数据中心部门包括其服务器CPU业务和基于GPU的AI加速器业务。
苏姿丰表示，服务器CPU营收预计在2026年下半年同比增长超过80%。她补充说，服务器CPU销售额预计在2027年再次增长超过70%。
在问答环节，苏姿丰还表示，AMD的数据中心AI业务预计将继续以超过100%的速度增长，其中AI加速器的扩张速度快于服务器CPU，并推动整体部门增长。
AMD近期获得了一系列重要的AI数据中心客户。继上个月与OpenAI和Meta达成协议后，该公司还与Anthropic签署了战略合作伙伴关系。
根据协议，Anthropic计划部署AMD的下一代AI机架系统Helios，规模高达2吉瓦。首批1吉瓦的部署计划于2027年上半年开始。微软也已承诺在其Azure云平台中部署Helios。
苏姿丰表示，Helios的初期需求超出了预期。
“对Helios的需求比我们最初预期的要强劲，”她说。“我们计划在第三季度开始出货，并在第四季度和明年扩大交付。”
该公司还重申，供应限制仍然是其服务器CPU业务面临的挑战。
“服务器CPU供应链仍然紧张。整个上半年一直如此，”苏姿丰说。“很大一部分需求未纳入我们的预测。”
她此前在5月份的第一季度财报电话会议上也承认了供应短缺。
AMD表示，正在增加其供应链的产能，包括晶圆、先进封装和基板。该公司预计供应状况将在2027年改善。
AMD现在估计，到2030年，服务器CPU市场将达到约2200亿美元，这意味着年增长率超过50%。
这一预测较之前的预测有显著提升。在2025年11月的分析师日活动中，AMD估计服务器CPU市场的年增长率为18%。在5月份的第一季度财报电话会议上，该公司将2030年市场估计上调至1200亿美元，意味着年增长率为35%。
AMD将代理式AI采用带来的需求上升作为最新上调的关键原因。虽然小于该公司预测的1.4万亿美元AI加速器市场，但AMD表示，服务器CPU部门预计将以超过45%的年增长率更快增长。
该公司还已开始生产其下一代第六代EPYC处理器，代号Venice，采用2纳米制程技术。
据苏姿丰称，Venice的需求是迄今为止所有EPYC世代中最强劲的。
AMD报告第二季度营收为115.4亿美元，同比增长50%，创公司纪录。
数据中心营收飙升107%至67亿美元，占总营收的比例从一年前的42%升至58%。
对于第三季度，AMD预测营收约为130亿美元，上下浮动3亿美元。这一展望代表41%的同比增长，并超过分析师一致预期的125.2亿美元。
“我们仍处于多年AI采用周期的早期阶段，”苏姿丰说。
尽管业绩强劲，AMD股价在盘后交易中下跌超过8%，而常规交易时段上涨7%。虽然公司的营收展望超出了华尔街预期，但一些投资者认为其AI增长预测未达到市场的高预期。
Lisa Su, Chair and Chief Executive Officer of AMD. (Photo: AMD)
AMD expects its data center business to more than double in 2027 as demand for artificial intelligence infrastructure continues to accelerate, according to comments made during the company's second-quarter earnings conference call.
"We expect data center revenue in 2027 to more than double year over year," AMD Chair and Chief Executive Officer Lisa Su said on Aug. 4.
AMD's data center segment consists of its server CPU business and its GPU-based AI accelerator business.
Su said server CPU revenue is expected to increase more than 80% in the second half of 2026 compared with the same period last year. She added that server CPU sales are projected to grow by more than 70% again in 2027.
During the question-and-answer session, Su also said AMD's data center AI business is expected to continue growing well above 100%, with AI accelerators expanding faster than server CPUs and driving overall segment growth.
AMD has recently secured a series of major AI data center customers. Following agreements with OpenAI and Meta last month, the company also signed a strategic partnership with Anthropic.
Under the agreement, Anthropic plans to deploy AMD's next-generation AI rack system, Helios, at a scale of up to 2 gigawatts. The first 1-gigawatt deployment is scheduled to begin in the first half of 2027. Microsoft has also committed to deploying Helios within its Azure cloud platform.
Su said initial demand for Helios has exceeded expectations.
"Demand for Helios is stronger than we originally anticipated," she said. "We plan to begin shipments in the third quarter and expand deliveries through the fourth quarter and into next year."
The company also reiterated that supply constraints remain a challenge for its server CPU business.
"The server CPU supply chain remains tight. It has been tight throughout the first half of the year," Su said. "A significant portion of demand was not included in our forecasts."
She had previously acknowledged supply shortages during AMD's first-quarter earnings call in May.
AMD said it is increasing capacity across its supply chain, including wafers, advanced packaging and substrates. The company expects supply conditions to improve in 2027.
AMD now estimates the server CPU market will reach approximately $220 billion by 2030, implying annual growth of more than 50%.
The forecast marks a significant increase from previous projections. During its Analyst Day event in November 2025, AMD estimated annual growth of 18% for the server CPU market. In its first-quarter earnings call in May, the company raised its 2030 market estimate to $120 billion, implying annual growth of 35%.
AMD cited rising demand driven by the adoption of agentic AI as a key reason for the latest upward revision. While smaller than the company's projected $1.4 trillion AI accelerator market, AMD said the server CPU segment is expected to grow faster, at more than 45% annually.
The company has also begun production of its next-generation sixth-generation EPYC processor, codenamed Venice, which is manufactured using a 2-nanometer process technology.
According to Su, demand for Venice is the strongest of any EPYC generation to date.
AMD reported second-quarter revenue of $11.54 billion, up 50% year over year and a company record.
Data center revenue surged 107% to $6.7 billion, increasing its share of total revenue from 42% a year ago to 58%.
For the third quarter, AMD forecast revenue of approximately $13 billion, plus or minus $300 million. The outlook represents 41% year-over-year growth and exceeds the consensus analyst estimate of $12.52 billion.
"We are still in the early stages of a multi-year AI adoption cycle," Su said.
Despite the strong results, AMD shares fell more than 8% in after-hours trading after rising 7% during regular trading hours. While the company's revenue outlook exceeded Wall Street expectations, some investors viewed its AI growth projections as falling short of elevated market expectations.