AMD's Helios Rack Systems Land Meta, Microsoft, OpenAI, Anthropic and Oracle as Users

AMD used its quarterly results release to disclose that five heavyweight customers — Meta, Microsoft, OpenAI, Anthropic and Oracle Cloud Infrastructure — are running models or workloads on its rack-scale Helios systems. The chipmaker did not break down which models or workloads each customer operates, and the announcement bundled the customer list together with updates on products, cloud offerings and software.

The disclosure lands roughly a week after AMD unveiled an expanded strategic partnership with Meta. Under that arrangement, Helios systems are already deployed at Meta, while EPYC processors power the company's Muse AI agents. AMD also said its technology supports Meta's models, and the two firms are working toward a broader infrastructure build-out measured in gigawatts. As part of the tie-up, AMD agreed to invest $1 billion in Meta's equity offering, with the collaboration spanning processors, graphics chips, networking, systems and software.

Data Center Revenue Beats, and the Outlook Does the Heavy Lifting

The financial backdrop came from the quarter itself. Data center revenue of $8.55 billion topped analyst expectations, according to Reuters, and a stronger growth forecast helped ease concerns about demand for AI infrastructure. AMD posted record third-quarter 2026 revenue of $13.4 billion, up 45% year over year, while adjusted diluted earnings per share climbed 74% to $2.09. Within the data center segment, revenue jumped 97% to $8.5 billion.

For the fourth quarter of 2026, AMD guided to roughly $17 billion in revenue, a range of plus or minus 3%, with an adjusted gross margin of about 55%. Chief executive Lisa Su went further, projecting total revenue growth of more than 80% for 2027 — an expectation that stretches well beyond the current fiscal year.

Goldman Reaffirms, Morgan Stanley Moves Halfway

Wall Street's response split along familiar lines. Goldman Sachs reiterated its buy rating and $700 price target a day after the numbers, with analyst James Schneider pointing to the stronger results and guidance as the basis for expecting further gains. Morgan Stanley had already lifted its target to $510 from $465 on Monday, yet kept its "Equal-Weight" rating — a higher number without a more favorable view of the stock.

Investors leaned toward the bulls: the shares were up 7.1% in premarket trading following the better-than-expected revenue forecast.