AMD · 10-K filed 4 Feb 2026 · year to 27 Dec 2025

Advanced Micro Devices

31 named things its latest annual report says its results depend on, each in the company's own words. 21 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

OpenAI

earns from · 6 gigawatts of AMD GPUs

In October 2025, we entered into a product purchase agreement with OpenAI OpCo, LLC, (OpenAI) to deploy 6 gigawatts of AMD GPUs, with the deployment of the first gigawatt of capacity powered by our AMD Instinct MI450 series products.Business (Item 1)

Also named by COMP, CRWV, HOOD, MRNA, MSFT, NVDA, NYT, PVH and 3 more

Sony

earns fromnamed as a risk

The success of our semi-custom SoC products in our Client and Gaming segment is dependent on securing customers for our semi-custom design pipeline and consumer market conditions, including the success of game console systems and next generation consoles for Sony and Microsoft.Risk factors (Item 1A)

Also named by BBY, IDCC, TTWO

Hyperscale data center customers

earns from

Large multi-national public cloud service providers and hyperscale private data centers directly and indirectly purchase a substantial portion of our data center-focused products, including server CPUs, GPU accelerators, DPUs, AI NICs, FPGAs and adaptive SoCs.Business (Item 1)

Suppliers

Taiwan Semiconductor Manufacturing Co. (TSMC)

depends onnamed as a risk

We rely on Taiwan Semiconductor Manufacturing Company Limited (TSMC) for the production of all wafers for microprocessor and GPU products at 7 nanometer (nm) or smaller nodes, and we rely primarily on GLOBALFOUNDRIES Inc. (GF) for wafers for microprocessor and GPU products manufactured at process nodes larger than 7 nm.Risk factors (Item 1A)

Also named by ADI, ALAB, AVGO, CRWV, ENTG, FTNT, INTC, KLAC and 6 more

United Microelectronics Corporation (UMC)

depends onnamed as a risk

Moreover, we rely on TSMC, UMC and our other foundries to produce wafers with competitive performance attributes for our IC products.Risk factors (Item 1A)

Also named by MXL

GlobalFoundries Inc.

depends onnamed as a risk

We are party to a wafer supply agreement with GF where GF will provide a minimum annual capacity allocation to us and set pricing through 2026.Risk factors (Item 1A)

Tongfu Microelectronics Co., Ltd. (ATMP JVs)

depends onnamed as a risk

The majority of our ATMP services are provided by the ATMP JVs and there is no guarantee that the ATMP JVs will be able to fulfill our long-term ATMP requirements.Risk factors (Item 1A)

Siliconware Precision Industries Ltd. (SPIL)

depends on

The ATMP JVs, Siliconware Precision Industries Ltd. (SPIL) and King Yuan Electronics Company (KYEC) provide ATMP services for our products.Business (Item 1)

Partners and platforms

Microsoft

depends onnamed as a risk

Our ability to innovate beyond the x86 instruction set controlled by Intel depends partially on Microsoft designing and developing its operating systems to run on or support our x86-based microprocessor products.Risk factors (Item 1A)

Also named by AAOI, AAON, AES, AJG, BLK, CDW, CEG, CG and 13 more

Other companies

Higon Information Technology Co., Ltd. (THATIC)

named as a risk

We may not realize the expected benefits from the THATIC JV’s expected future performance, including the receipt of any royalties from certain licensed intellectual property.Risk factors (Item 1A)

Cryptocurrency mining market

earns fromnamed as a risk

If we are unable to manage the risks related to the volatility of the cryptocurrency mining market (including potential actions by global monetary authorities), our GPU business could be materially adversely affected.Risk factors (Item 1A)

Sanmina Corporation

In October 2025, we sold the ZT data center infrastructure manufacturing business (ZT Manufacturing Business) to Sanmina Corporation (Sanmina).Business (Item 1)

Also named by ANET

Competitors

Nvidia

competes withnamed as a risk

For example, in September 2025, Nvidia announced a partnership and investment in Intel to partner on new data center and client platform products.Risk factors (Item 1A)

Also named by ANET, BAM, CDNS, COHR, DOCN, HPE, INTC, NOW and 3 more

Intel

competes withnamed as a risk

For example, Intel Corporation (Intel) uses its microprocessor market position to price its products aggressively and target our customers and channel partners with special incentives.Risk factors (Item 1A)

Also named by FTNT, HPE, SMCI

Places

China

earns from · 15% of the revenuenamed as a risk

In August 2025, U.S. government officials expressed an expectation that the U.S. government will receive 15% of the revenue generated from licensed MI308 sales to China.Risk factors (Item 1A)

Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more

International sales

earns from · 67%named as a risk

International sales, as a percent of net revenue, were 67% for the year ended December 27, 2025.Risk factors (Item 1A)

Also named by AEHR, AME, ATI, AVAV, CRS, ENTG, FSS, HLIO and 5 more

Taiwan

concentrated innamed as a risk

Also, in addition to restrictions imposed by the United States or China on exports or imports from one another, geopolitical changes between China and Taiwan could disrupt the operations of our Taiwan-based third-party wafer foundries, manufacturing facilities and subcontractors, and materially adversely affect delivery of products and our business, financial condition and/or operating results.Risk factors (Item 1A)

Also named by AAOI, AAPL, AB, ADI, AEHR, ALAB, AMAT, ANET and 50 more

China, Malaysia and Taiwan assembly and test

concentrated innamed as a risk

Nearly all product assembly and final testing of our products is performed at third-party operated manufacturing facilities, in China, Malaysia and Taiwan.Risk factors (Item 1A)

Hazards

California earthquakes

operates innamed as a risk

For example, our California operations are located near major earthquake fault lines.Risk factors (Item 1A)

Also named by DXCM, ELS, KLAC, ONTO, SNPS

Taiwan earthquakes

concentrated innamed as a risk

In April 2024, Taiwan experienced an earthquake where our third-party wafer foundries are located.Risk factors (Item 1A)

Also named by ALAB

Commodities and inputs

Memory

exposed to its pricenamed as a risk

For example, there is currently an industry-wide memory shortage as the demand for such components has outpaced supply.Risk factors (Item 1A)

Also named by NVDA

Data center energy and water

named as a risk

If customers cannot secure sufficient power or water, or experience outages or shortages of these resources, they may be unable to expand their data center capacity and may reduce or stop purchases from us.Risk factors (Item 1A)

Regulators

Bureau of Industry and Security (BIS)

subject tonamed as a risk

These controls prevent us from shipping certain AMD Instinct™ integrated circuits and certain AMD Versal™ FPGAs to China, or to customers outside of the United States who are headquartered in—or whose ultimate parent is headquartered in—a D5 Country, without a license.Risk factors (Item 1A)

Also named by AAOI, APH, CRWV, EXTR, GLW, GTLB, LITE, MTSI and 5 more

California Regional Water Quality Control Board

subject tonamed as a risk

In 1991, we received Final Site Clean-up Requirements Orders from the California Regional Water Quality Control Board relating to the three sites.Business (Item 1)

Laws and programs

U.S. Export Administration Regulations (EAR)

subject to · approximately $800 million in inventory and related chargesnamed as a risk

As a result of the restriction, we incurred approximately $800 million in inventory and related charges in the second quarter of 2025.Risk factors (Item 1A)

Also named by ADI, ALAB, APP, ARW, AVGO, CARR, CDRE, COHR and 40 more

Superfund (CERCLA)

subject to · approximately $5.9 millionnamed as a risk

To address anticipated future remediation costs under the orders, we have computed and recorded an estimated environmental liability of approximately $5.9 million and have not recorded any potential insurance recoveries in determining the estimated costs of the cleanup.Business (Item 1)

Also named by ABBV, ABT, CRS, ED, FLS, IR, KVUE, MO and 4 more

Revolving Credit Agreement

$3.0 billionnamed as a risk

We also have an unsecured revolving credit facility in the aggregate principal amount of $3.0 billion (Revolving Credit Agreement).Risk factors (Item 1A)

Also named by APLD, VLTO, WCN

EU AI Act

subject tonamed as a risk

For example, the EU AI Act was adopted in 2024 and its implementation will be phased in over the next few years.Risk factors (Item 1A)

Also named by ACN, ADBE, AXON, CGNX, CRM, CRWD, CTSH, DOCN and 36 more

U.S. Entity List

subject tonamed as a risk

In June 2019, BIS added certain Chinese entities to the Entity List, including THATIC and the THATIC JV.Risk factors (Item 1A)

Also named by ALAB, APH, KLAC, LITE, TER

AI Diffusion Rule

subject tonamed as a risk

The replacement rules may limit our ability to engage in certain business transactions, require new export licenses, delay shipments, or necessitate changes in our compliance processes and product designs to ensure regulatory compliance.Risk factors (Item 1A)

Also named by SMCI

Technology

Arm

competes withnamed as a risk

Some competitors are pursuing alternative computing architectures, such as Arm, which could grow the Arm ecosystem and increase competition in consumer, commercial and data center, reducing demand for our products.Risk factors (Item 1A)