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Highlights
AMD shares rose about 1% in pre-market trading on Friday after the company announced a $5 billion bond issue for artificial intelligence infrastructure construction.
The bond issuance is the chipmaker's largest bond issuance to date, surpassing the $1.5 billion raised just months ago in March 2025.
The company expects server revenue to surge by more than 80% in the second half of 2026 and expects to achieve growth of at least 70% in 2027.
Major technology companies OpenAI, Meta and Anthropic each committed to providing 1 GW of AMD computing power.
Shipments of Helios AI racks are scheduled to begin in September, and significant revenue growth is expected in the fourth quarter.
Advanced Micro Devices (AMD) shares rose about 1% to $485.50 in pre-market trading on Friday. Previously, the chipmaker disclosed plans to raise up to $5 billion through bond issuance for artificial intelligence and data center expansion plans.
The proposed financing structure consists of four tranches of investment-grade bonds with maturities ranging from three to ten years. The final issuance size will depend on market conditions. The funds raised will be used to support general corporate activities and may include refinancing existing debt.
If the offering reaches full size, it will become the largest dollar-denominated bond transaction in AMD's history. The chipmaker previously raised $1.5 billion through an investment-grade bond issuance in March 2025.
Overall market sentiment supported AMD's gains, with Nasdaq futures up 0.27% and S & P 500 futures up 0.10% in pre-market trading. Consumer prices were 3.4% in July, and slowing inflation data boosted investor confidence.
The semiconductor company recently reported strong quarterly financial results, with revenue and profit exceeding expectations. However, after the earnings report, the stock price fell back, in part because Elon Musk publicly approved Nvidia processors for SpaceX infrastructure.
Ambitious revenue forecasts
At the 2026 Technology Leadership Forum, AMD announced ambitious expansion goals. The semiconductor maker predicts that server revenue will grow by more than 80% in the second half of 2026 and expects growth to exceed 70% in 2027.
The company's integrated data center business, which includes artificial intelligence solutions, is expected to grow by more than 100% in the next year.
AMD estimates that by the end of this decade, the server CPU market will reach US$220 billion. The chipmaker is seeking to capture more than 50% of revenue in the space.
Company management expects proxy computing to account for approximately two-thirds of this market opportunity. Proxy AI systems require greater CPU processing power, and this is an area where AMD is complementing its GPU portfolio while maintaining a competitive advantage.
AMD's preliminary forecast for server revenue in 2027 is already approximately 20% higher than the entire addressable server market in 2025.
Product launch and strategic cooperation
The semiconductor manufacturer plans to begin shipping components for its Helios AI rack system in September. Management expects revenue growth to accelerate in the fourth quarter and will gather further growth momentum in the first quarter.
OpenAI and Meta have each committed 1 GW of AMD computing infrastructure. Anthropic has committed to 1 GW and hopes to expand to 2 GW.
More deployments are expected through Microsoft Azure, Oracle Cloud Infrastructure and other cloud service providers.
Financial analysts are generally optimistic about AMD. The company's Helios processor architecture is widely expected to generate significant returns starting in the fourth quarter, with management claiming its performance is better than Nvidia's existing product line.
AMD shares rose slightly 0.02% at the close on August 13, 2026, and rose another 0.43% in pre-market trading on August 14.

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