AMD posted a record quarter as its data center business doubled and gaming cratered. Data center is carrying the story while gaming drags. The tape will pay for the growth engine and discount the cycl

What happened: AMD reported record third-quarter revenue of $13.4 billion, up 45 percent year over year, as its data center segment nearly doubled and gaming declined. Key numbers: Q3 revenue $13.4 billion, up 45 percent. Data center $8.5 billion, up 97 percent. Client $2.95 billion, up 7 percent. Q4 guidance about $17 billion, plus or minus 3%, about 66 percent year-over-year growth. Why it matters: If both companies meet guidance, AMD would exceed Intel's revenue for the first time in history. AMD attributes data center growth to EPYC server CPUs and the Instinct MI450 GPU launch.

AMD reported record third-quarter revenue of $13.4 billion, up 45 percent year over year, as its data center segment nearly doubled and gaming declined.

If both companies meet guidance, AMD would exceed Intel's revenue for the first time in history. AMD attributes data center growth to EPYC server CPUs and the Instinct MI450 GPU launch.