Business
AMD Shares Fall Over 7% Despite Record Revenue and Data Center Boom as Investors Seek Bigger AI Payoff
SANTA CLARA, Calif. — Shares of Advanced Micro Devices fell more than 7% on Wednesday after the chipmaker reported record second-quarter results powered by surging demand for artificial intelligence hardware, yet delivered a revenue outlook that left some investors wanting clearer evidence of accelerating returns from the multibillion-dollar AI spending wave.
AMD stock was last trading near $479.52, down about 7.53% or $39.06, after closing Tuesday at $518.58. The decline came after the shares had risen 7% in the prior regular session. The move was set to erase tens of billions of dollars from the company’s market value as traders digested results that beat Wall Street estimates but failed to fully satisfy elevated expectations built up during a strong year for the stock.
The Santa Clara, California-based company posted second-quarter revenue of $11.5 billion, up 50% from $7.69 billion a year earlier and ahead of analyst forecasts around $11.3 billion. On a non-GAAP basis, diluted earnings per share reached $1.66, exceeding the $1.62 consensus. GAAP diluted earnings were $1.38. Gross margin expanded to 54% on a GAAP basis and 56% non-GAAP.
Data center revenue more than doubled to $6.7 billion, rising 107% year over year and accounting for 58% of total company sales, up from 42% a year ago. The segment’s operating income reached $2.1 billion. Growth was driven by strong demand for AMD’s EPYC server processors and Instinct AI accelerators. Client revenue rose 23% to $3.1 billion on strength in Ryzen processors, while gaming revenue fell 31% to $779 million due to lower semi-custom sales. Embedded revenue increased 19% to $977 million.
For the third quarter, AMD guided revenue to approximately $13 billion, plus or minus $300 million. The midpoint implies about 41% year-over-year growth and a sequential increase of roughly 13%. Non-GAAP gross margin is expected to remain around 56%. The forecast topped the $12.52 billion analyst estimate compiled by LSEG, though some market participants had hoped for guidance closer to $14 billion.
“We delivered an excellent quarter, with record revenue and profitability as Data Center revenue more than doubled year-over-year,” said Dr. Lisa Su, AMD chair and chief executive. “We enter the second half with strong momentum as EPYC demand accelerates, Instinct deployments scale and Helios begins to ramp. More broadly, AI is driving a significant expansion in demand for compute across all of our markets, and our leadership portfolio and growing customer visibility position us exceptionally well to capture this expanding opportunity and deliver substantial revenue and earnings growth in the years ahead.”
Chief Financial Officer Jean Hu added: “Revenue increased 50% year-over-year to a record $11.5 billion, driven by continued strength in our Data Center business, which represented 58% of company revenue in the quarter. We expect Data Center sales to accelerate in the second half of 2026, driving stronger overall revenue growth and continued earnings expansion.”
On the earnings call, Su indicated that data-center revenue is expected to more than double by 2027, with total company revenue growth projected above the previously outlined target of more than 35%. She pointed to server CPU revenue growth of more than 70% in 2027 and described AI GPU growth as well over 100%, supported by the ramp of the Helios rack-scale platform and strategic customer relationships that include OpenAI, Meta and Anthropic.
Despite the strong numbers, investors focused on several points of caution. Capital expenditures rose sharply to $808 million in the quarter from $282 million a year earlier and $389 million in the prior quarter. Free cash flow came in at about $1.56 billion, a 14% margin, lower than the 25% seen in the first quarter as the company invested to support higher data-center demand. Inventory increased to approximately $8.5 billion. Analysts also noted that adjusted gross margins are expected to remain flat sequentially at 56%, offering limited near-term expansion after the stock’s substantial run-up this year.
AMD shares have more than doubled in 2026 on optimism that the company can emerge as a credible alternative to Nvidia in AI accelerators while defending and expanding its position in server CPUs against Intel. That rally raised the bar for quarterly results. Recent customer wins and platform announcements had further heightened expectations.
“We suspect expectations had moved higher following Intel’s results a couple of weeks ago, and the buyside already has a fairly bullish outlook,” said Stacy Rasgon, an analyst at Bernstein.
Other market observers described the results as objectively solid yet insufficient to reset the valuation for a stock that had been trading at elevated multiples of forward earnings. Some pointed to potential supply constraints in advanced process technology and packaging through 2027 as risks that could temper the pace of growth even as demand remains robust.
AMD has been expanding beyond discrete chips into full AI systems that combine processors, accelerators and networking. The company has highlighted the beginning of Helios shipments in the third quarter, with a larger step-up expected in the fourth quarter and continued growth into 2027. Management expressed confidence that current supply arrangements can support the outlined targets, though industry-wide tightness in certain process nodes remains a factor to monitor.
The broader semiconductor sector has been volatile as investors weigh the sustainability of AI infrastructure spending by hyperscalers and enterprises. Nvidia has maintained a dominant position in training and inference accelerators, while Intel has posted improving results that have drawn renewed attention. AMD’s ability to convert its growing customer visibility and product momentum into consistently accelerating free cash flow and higher margins will likely remain a central focus for the market in coming quarters.
Cash and investments stood at $13.1 billion at quarter-end. The company generated $2.4 billion in cash from operations during the period. Management reiterated that AI is expanding demand for compute across markets and that AMD’s portfolio positions it to capture a meaningful share of that opportunity over a multi-year horizon.
Trading volume was elevated as the stock reversed the prior day’s gains. For the year to date, AMD remains significantly higher even after Wednesday’s decline, reflecting the scale of the AI-driven re-rating of its business. Investors will now watch closely for evidence in subsequent quarters that the data-center acceleration and Helios ramp are translating into the faster growth trajectory management has outlined for 2027 and beyond.
The results underscored both the opportunity and the pressure facing AMD as it seeks to convert strong product demand into sustained outperformance relative to the high expectations already embedded in its share price.
Business
The Smartest Growth Move Some Companies Make Is Doing Less Marketing, Not More
A founder told me last year that his best quarter in three years came right after he cut his content calendar in half. Fewer posts. Fewer campaigns. Fewer emails competing with each other for the same inbox. Revenue went up. His team thought he’d lost his mind, right up until the numbers came in.
That story gets people’s attention because it sounds like the opposite of everything marketing departments are built to do. More output usually reads as more effort, and more effort usually reads as more results, at least to a board that’s judging activity because activity is easier to measure than clarity. But I’ve watched enough companies over-produce their way into irrelevance to know the founder wasn’t lucky. He was right, for a specific reason most people miss.
Restraint Is Not a Strategy on Its Own
Here’s the part that gets left out when this story gets repeated at conferences: doing less only works once a brand already knows exactly what it’s saying and to whom. Cutting volume before that foundation exists isn’t restraint. It’s laziness or apathy wearing a strategy costume, and it fails just as fast as over-producing does, just more quietly.
The founder I mentioned had already done the unglamorous work. He knew precisely who his buyer was, what that buyer’s actual pain point was, and the specific language that buyer used to describe the problem before they ever found him. Once that clarity existed, every off-strategy post was diluting a message that was already landing, not reinforcing it. Cutting volume didn’t create the growth. It stopped getting in growth’s way.
Contrast that with a company that hasn’t done that work yet and decides to “simplify” its marketing by posting less. That company isn’t being disciplined. It’s disappearing, and it will read its declining numbers as proof the market has moved on, when the real cause is that nobody ever knew what to say in the first place.
The Order Matters
This is why the sequence at BrandBossHQ is not negotiable. Research and story come first. Tactic and volume decisions come after, never before. A brand earns the right to do less only once it has proven, through real customer language and a defined narrative, that what it’s already saying is working.
Most companies have this backwards. They think of output as the strategy (assuming any message is a good one that will grow their business), then cut it the minute budgets get tight – without ever considering whether the content they were creating was in any way relevant, meaningful or unique to their audience in the first place.
This approach effectively cuts the legs out from under your marketing effectiveness from the start. Doing more, or less, of what was never strategically sound in the first place isn’t going to make up for its irrelevance. It’s just going to waste time and money and convince leadership that ‘marketing never works’ in the first place, which isn’t true at all.
Before you go making a decision about whether to create more or less content, or whether to add or subtract marketing channels (paid, social, traditional, guerrilla, or otherwise) make sure your message is grounded in something that your target audience actually cares about – then measure for engagement efficiency, not just output for output’s sake.
Because more or less isn’t going to matter when no one was listening to begin with.
To find out whether your brand has earned the right to do less, visit BrandBossHQ.
Business
Conagra reshuffles leadership amid retirements

Amy Held joins company, Charisse Brock retires and Jon Harris pursuing other opportunities.
Business
Shake Shack Shares Jump on Starboard Stake
Shake Shack shares shot up nearly 10% after the head of Starboard Value said the activist investment firm has built a stake in the burger brand.
Starboard CEO Jeff Smith said in a Wednesday interview on Bloomberg TV that the firm has a position in the stock worth several hundred million dollars.
Representatives for Shake Shack didn’t immediately comment. The New York-based company on Wednesday reported higher second-quarter sales, and its adjusted profits outpaced analysts’ expectations, though costs grew.
Business
How AI is changing jobs in the Philippines’ outsourcing industry
Mary, another former content writer whose name we’ve changed, says her employer encouraged the use of AI as a productivity tool.
Instead of making her job easier, she says it created additional responsibilities.
“We had to edit more, fact-check more because the data AI produced was inaccurate,” she says. “Technically it was more work for us.”
Like Lisa, she was later made redundant.
Companies are under pressure to implement AI, to reduce costs and increase productivity, experts say.
Teleperformance, the world’s largest call centre operator and one of the Philippines’ biggest private employers, has said AI offers an opportunity to augment rather than replace its workforce.
The company expects AI to handle routine interactions while human agents move into more complex roles.
Teleperformance has also said it plans to retrain employees.
Accenture has similarly said that generative AI will reshape almost every job rather than eliminate positions.
The firm has promised to invest billions of dollars in AI capabilities and workforce training.
Concentrix – which is the biggest outsourcing firm in the Philippines – says its AI systems should remain under human oversight and has committed to training employees in the new technology.
Some Filipino managers are uneasy about AI and want to slow down adoption, according to Paul Quintos, from the University of the Philippines-Diliman.
They are concerned about how much of the domestic workforce might be displaced.
“But there’s tremendous pressure from foreign clients to adopt AI,” he says. “It’s a major cost-cutting measure.”
Philippine outsourcing companies compete directly with rivals in India and elsewhere for contracts from multinational corporations.
Increasingly, those clients expect suppliers not only to provide cheaper labour, but also to integrate AI into the services they deliver.
Business
SpaceX Falcon 9 upper stage crashes into moon near Einstein crater
NASA Administrator Jared Isaacman discusses the agency’s three-phase plan to establish a permanent moon base. Isaacman also reacts to reports of a SpaceX Falcon 9 rocket stage hitting the lunar surface at 5,400 mph.
A detached portion of a SpaceX rocket collided with the moon Wednesday morning, a NASA official confirmed to Fox News Digital.
The impact was made by the 8,818-pound upper portion of a SpaceX Falcon 9 rocket while traveling at a speed of 5,400 mph, according to Reuters.
The rocket stage is “expected to create a crater about 60 feet wide and 12 feet deep and throw dust and rock outward as ejecta,” the NASA official told Fox News Digital.
SpaceX launched the rocket in January 2025 as part of a mission to land the Firefly Aerospace Blue Ghost Mission 1 lunar lander on the moon. The upper portion was not supposed to return to the moon, but was pulled back to the lunar surface due to “solar activity and gravitational forces,” the NASA official said.
NASA’s Jet Propulsion Laboratory confirmed Tuesday that the rocket portion had “a 100% chance of impacting the Moon.”
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A SpaceX rocket stage crashed into the lunar surface on Wednesday, Aug. 5, 2026. (iStock / iStock)
Despite the uncommon nature of manmade objects hitting the moon, NASA advised that there is no danger to Earth, adding that “a meteoroid with the same energy as the upper stage hits the Moon about every six days,” according to the official.
The discarded section was projected to impact the moon near the Einstein crater at 2:35 a.m. Wednesday, according to NASA.

A SpaceX Falcon 9 rocket, carrying Firefly Aerospace’s Blue Ghost and ispace’s Resilience lunar landers, streaks into orbit after lifting off from Launch Complex 39A at the Kennedy Space Center in Cape Canaveral, Florida, on Jan. 15, 2025. (Gregg Newton/AFP via Getty Images)
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NASA Administrator Jared Isaacman also said the impact was not a cause for concern during a Wednesday morning appearance on “Fox and Friends,” adding that the development of reusable rockets will further decrease the likelihood of future impacts.

NASA Administrator Jared Isaacman delivers remarks at the American Institute of Aeronautics and Astronautics Ascend Conference on May 19, 2026, in Washington, D.C. (Kevin Dietsch/Getty Images)
“First of all, I’d say we’ve made a ton of progress. America leads the world in this regard. It used to be the case that all rockets were disposed in the ocean. Now you’ve watched over the last few years, I mean, SpaceX has recovered more than 600 of their boosters by bringing them back in a spectacular way to land on ships and land back on land,” he said.
“First, it’s very infrequent to have things like the Falcon 9 second stage crash into the moon. Second, it’s not a big deal right now. The moon has clearly seen better days, but once you have reusable upper stages like Starship is doing, you’re not going to be throwing them away, you’re going to be turning them, landing them on the moon, and they’re going to contribute to the city block we’re trying to build on the lunar surface,” Isaacman concluded.
Not only was the impact expected to cause minimal damage, NASA hopes that it will actually be able to study the event and garner scientific insights from observation.
NASA will use the Lunar Reconnaissance Orbiter and the ShadowCam instrument aboard South Korea’s Korea Pathfinder Lunar Orbiter to “look for chances to image the site before and after the impact,” the official told Fox News Digital.
“Image availability will depend on lighting, orbital timing, and spacecraft position, and it may take several days to receive imagery. Any data collected will help scientists better understand artificial impacts and their exploration implications,” the official added.
Fox News Digital contacted SpaceX for added comment.
CLICK HERE TO DOWNLOAD THE FOX NEWS APP
Fox News Digital’s Preston Mizell and Reuters contributed to this report.
Business
Fashion brand Jaded has ad banned for ‘glamorising smoking’
The ASA told the brand to stop using the ad and “ensure that their future marketing communications were socially responsible”.
Founded by siblings Jade Camber and Grant Goulden in 2013, Jaded London has amassed 1.5 million Instagram followers and is particularly popular among young people.
Its clothes are stocked in shops including Selfridges and Urban Outfitters and it made £51m of sales in the year to June 2025.
Responding to the watchdog, Jaded London argued it was “not clear” the model was holding a cigarette because it was slimmer than normal and “did not appear to be lit”.
The company also argued it was “less prominent than other elements of the image, such as the model’s clothing and accessories”.
However, it said it “understood why it was best to avoid images of models holding cigarettes” and would not use smoking content in future ads.
At the time of writing, Jaded London’s Instagram feed contained several other images of people smoking while wearing its clothes.
A spokesperson for the ASA told the BBC it was unable to comment on whether the other posts broke the rules without them going through its formal process.
“We’d always encourage anyone who has a concern about an ad they’ve seen to report it to us,” they added.
Jaded London was approached for comment.
Business
Attovia Therapeutics shares jump 24% in trading debut after IPO

Attovia Therapeutics shares jump 24% in trading debut after IPO
Business
Disney parks buck travel slowdown
People gather at the Magic Kingdom theme park before the “Festival of Fantasy” parade at Walt Disney World in Orlando, Florida, U.S. July 30, 2022.
Octavio Jones | Reuters
Disney parks are defying a slump in international travel to the U.S., posting record quarterly revenue for the company’s experiences division on Wednesday.
The experiences segment, which includes Disney’s theme parks, cruise line, resorts and consumer products, reported nearly $10 billion in revenue for the fiscal third quarter, a 10% jump from the same quarter a year prior and a quarterly record. The division has seen record revenue for six consecutive quarters.
The division recorded operating income of more than $3 billion, up 20% from the same period a year prior. Shares of Disney were 2% higher Wednesday.
“It’s important, I think, to highlight that we’re performing significantly better than our competition,” Disney CEO Josh D’Amaro said during Wednesday’s earnings call. “And in doing that, delivering strong volume and per [capita] spending results. And to remind everyone we’re achieving this even during a period where there’s a fair amount of macro uncertainty.”
Last month, rival Comcast reported lags in theme park attendance, particularly in Orlando, Florida.
While tourism grew worldwide last year, the United States was the only major destination to see a drop in foreign visitors, according to the World Travel & Tourism Council. Overall, international travel to the U.S. fell 6%, the organization found.
Travel bans, visa fees and invasive searches at ports of entry are all factors in international travelers leaving the United States off their travel itineraries, according to the WTTC. Trade frictions, geopolitical unease and safety concerns have also contributed to the drop in demand for travel stateside, travel experts told CNBC.
And yet, at Disney, domestic park attendance was up 3% and guest spending rose 4%, CFO Hugh Johnston told CNBC. He also called out the “very strong attendance” at Walt Disney World in Orlando.
“Those numbers are somewhat different than what you would have seen from our competitor down there, as well as some of the reported traffic coming through Orlando [International] Airport,” he added.
The company attributed strong attendance to its Cool Kids Summer promotion, which features kid-focused character meet-and-greets, dance parties and air-conditioned hangout spots as well as free water park admission for hotel guests.
Disney also recently refreshed and reimagined park attractions like Buzz Lightyear’s Space Ranger Spin, Big Thunder Mountain Railroad and the Muppets-themed Rock ‘n’ Roller Coaster.
“Disney activated their fans to visit the theme parks during the quarter using a mix of marketing and discounting campaigns targeting young families and residents,” said Gavin Doyle, founder of MickeyVisit.com. “Despite a massive slate of upcoming rides that might have encouraged guests to delay their visits, Disney has found ways to create urgency and enticing opportunities to visit the theme parks now.”
These efforts “work to deepen [Disney’s] connection to modern audiences,” Doyle said.
On the West Coast, the California-based parks had a similar promotion at Disneyland in Anaheim.
“Disneyland’s targeted discounts for California residents and kids ensured that families did not skip visiting the parks this year,” Doyle said.
Disney’s experiences segment also benefitted from the addition of two new ships to its cruise fleet, the Disney Destiny and the Disney Adventure. Together these cruise liners increased stateroom capacity by around 50% and helped push revenue from the resorts and vacations piece of the division up 17% to $2.77 billion for the fiscal third quarter.
Business
Nvidia Shares Jump Nearly 4% After SpaceX Names Chipmaker Its Exclusive AI Hardware Provider
Nvidia shares climbed to $219.78 by mid-morning Wednesday, up 3.70%, after SpaceX confirmed the chipmaker would serve as the exclusive hardware provider for the space and technology company’s future artificial intelligence infrastructure, a deal that expands Nvidia’s reach beyond the traditional data center customers that have driven its rapid growth in recent years.
The gain came even as several of Nvidia’s chipmaking peers, including AMD, Intel and Micron, traded lower Wednesday, a divergence that traders attributed directly to the newly disclosed SpaceX partnership rather than broader sector-wide momentum.
SpaceX Commits to Nvidia Exclusively
The announcement came during SpaceX’s first earnings call as a newly public company, where Chief Executive Elon Musk confirmed the company would standardize its artificial intelligence infrastructure entirely on Nvidia hardware. The decision hands Nvidia another major AI customer and extends its opportunity into new categories of infrastructure investment beyond the hyperscale cloud providers that have historically represented the bulk of its data center revenue.
SpaceX’s own results underscored the scale of its ambitions in this area. The company reported second-quarter capital expenditures of $18.4 billion, with roughly $15.8 billion, or about 86% of that total, directed toward expanding AI computing and cloud infrastructure. SpaceX said it expects to have more than 2 gigawatts of AI computing capacity online by the end of 2026, with that figure growing toward 10 gigawatts in 2027, while the broader power and cooling infrastructure supporting those systems is being designed to eventually handle between 15 and 20 gigawatts of capacity. Musk also used the call to preview upcoming updates to the company’s Grok AI models, saying Grok 4.6 would launch the following week, followed by Grok 4.7, with Grok 5 expected before the end of the year.
A Broader Market Rally Provides Additional Support
Nvidia’s advance also came amid a broader rally across global equity markets tied to easing geopolitical tensions surrounding the Strait of Hormuz and growing optimism over continued artificial intelligence infrastructure spending. Global risk appetite rebounded significantly this week, with major asset classes strengthening in tandem as risk premiums declined following the de-escalation in U.S.-Iran tensions, alongside cooling inflation expectations and continued strength in AI-related capital spending.
That rally extended well beyond U.S. markets. Japanese and South Korean stock indexes opened sharply higher Wednesday, driven by an overnight rally in U.S. technology and semiconductor shares. South Korea’s SK Hynix rose 7%, Samsung Electronics gained more than 4%, Japan’s SoftBank surged 9%, and Kioxia climbed 7%, reflecting broad-based enthusiasm across the Asian semiconductor supply chain that feeds into the broader AI infrastructure buildout Nvidia sits at the center of.
A Disappointing Year So Far, Despite Wednesday’s Gain
Despite Wednesday’s rally, Nvidia’s stock has trailed the broader market for much of 2026, a departure from the pattern of the past three years, when the company’s shares consistently outpaced the S&P 500 during the first half of the year. Prior to Wednesday’s gain, Nvidia had risen only about 2% for the year, compared with roughly a 7% advance for the S&P 500 over the same period, according to recent market analysis.
That underperformance has come even as Nvidia’s underlying business has continued to benefit from the ongoing AI data center buildout, with the company’s graphics processing units widely regarded as the industry standard for AI computing workloads. Nearly every major company operating in the artificial intelligence space runs at least a portion of its computing workloads on Nvidia hardware, a dynamic that has continued to support demand even as the stock’s valuation has cooled somewhat from its earlier highs.
Looking Ahead to Nvidia’s Own Earnings
Nvidia is scheduled to report its own second-quarter fiscal 2027 results on Aug. 26, an event that some market analysts have pointed to as a potential turning point for the stock after its relatively muted performance so far this year. Wall Street analysts are expecting revenue growth of approximately 96% for the quarter, according to recent estimates, with some analysts suggesting the company’s historical pattern of exceeding expectations could push that growth rate back into triple digits.
Continued signals from major AI hyperscalers about sustained or increasing capital expenditure plans have reinforced investor confidence that current AI infrastructure investment levels are likely to persist well into 2027, according to recent market commentary, helping ease earlier concerns among some investors about a potential plateau in AI-related spending.
Technical Signals Remain Constructive
From a trading perspective, Nvidia has continued to show relatively strong technical momentum in recent sessions. According to market data compiled through Tuesday, the stock carried a Buy Candidate rating from one closely tracked technical scoring service, with the rating unchanged from the prior session’s evaluation. Since a buy signal was first identified earlier this week, the stock had already risen more than 2% heading into Wednesday’s session, even as some technical indicators pointed to increasingly overbought conditions following the stock’s recent advance.
Nvidia’s market capitalization stood at approximately $5.133 trillion as of Tuesday’s close, reflecting the company’s continued position as one of the most valuable publicly traded companies in the world, underpinned by its central role in the ongoing global buildout of artificial intelligence computing infrastructure.
A Widening AI Customer Base
The SpaceX partnership adds to a growing list of major technology companies and infrastructure operators that have committed to building out AI capabilities on Nvidia’s hardware platform, reinforcing the company’s position at the center of the broader AI investment cycle even as competition from rival chipmakers continues to intensify. With SpaceX’s own AI infrastructure ambitions scaling rapidly and additional capacity commitments already outlined through 2027, investors are likely to watch closely for further details on how quickly that partnership translates into concrete revenue for Nvidia in the coming quarters, alongside the company’s own upcoming earnings report later this month, which is expected to offer the clearest signal yet on whether the current AI infrastructure spending cycle remains as robust as recent corporate commentary suggests.
Business
B&G to name new CEO as Casey Keller retires

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