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Nvidia’s reported data-center business was much larger in its latest located quarter: it recorded $89.0 billion in Data Center revenue for fiscal Q2 2027, compared with AMD’s $6.718 billion for fiscal Q2 2026. AMD’s Data Center revenue grew 107% year over year and its segment reported $2.103 billion in operating income. Those results show scale and growth in two different reporting periods; they do not establish exact market share or make the companies’ segment results fully comparable.
How do Nvidia and AMD compare in data-center revenue?
The latest located quarters ended about a month apart and carry different fiscal-year labels. Nvidia’s fiscal Q2 2027 ended July 26, 2026; AMD’s fiscal Q2 2026 ended June 27, 2026. The figures below are management-reported results, not estimates for a synchronized calendar quarter.
| Measure | Nvidia | AMD |
|---|---|---|
| Latest located quarter | Fiscal Q2 2027, ended July 26, 2026 | Fiscal Q2 2026, ended June 27, 2026 |
| Company revenue | $96.221 billion | $11.536 billion |
| Data Center revenue | $89.0 billion | $6.718 billion |
| Year-over-year Data Center revenue growth | Not stated in the cited Q2 FY27 earnings release | 107% |
| Company-wide GAAP gross margin | 75.0% | 54% |
| Company-wide GAAP operating income | $63.734 billion | $1.990 billion |
| Data Center segment operating income | Not stated in the cited earnings release | $2.103 billion |
Nvidia’s figures are from its fiscal Q2 2027 earnings release, issued August 26, 2026. AMD’s company-wide revenue and margin are from its August 4, 2026 earnings release; its Data Center segment figures are from its fiscal Q2 2026 Form 10-Q.
The revenue gap is a clear comparison of reported scale for these periods, but it should not be read as a precise market-share calculation. The quarters are not synchronized, the companies define and report their businesses differently, and AMD’s Data Center segment spans several product categories. Revenue also does not indicate how many units were shipped, the value of customer deployments, or the profitability of each company’s data-center business.
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Which company is growing faster in data centers?
AMD’s reported growth rate
AMD’s Data Center revenue rose 107% year over year to $6.718 billion in fiscal Q2 2026. The segment had reported an operating loss of $155 million in the year-ago quarter and recorded $2.103 billion in operating income in Q2 FY26. AMD attributed the improvement partly to higher revenue and to the absence of prior-year inventory charges tied to U.S. government export controls on MI308 products.
Nvidia’s reported scale and outlook
The cited Nvidia Q2 FY27 release reports $89.0 billion in Data Center revenue but does not state a year-over-year Data Center growth rate in the figures used here. Nvidia’s total-revenue outlook for fiscal Q3 2027 was $108.0 billion, plus or minus 2%. That is a forecast, not a reported result; the company said its outlook assumed no Data Center compute revenue from China.
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AMD’s CFO Jean Hu said the company expected Data Center sales to accelerate in the second half of 2026, driving stronger overall revenue growth and continued earnings expansion. This is management’s outlook, not an established outcome. A growth-rate comparison should therefore use matching periods and disclosed segment growth rates rather than treating Nvidia’s larger quarterly revenue as proof that it grew faster.
How profitable is AMD’s data-center business?
AMD disclosed $2.103 billion in Data Center operating income on $6.718 billion of segment revenue for Q2 FY26. Dividing those reported figures gives an operating-income-to-revenue ratio of about 31.3%; this is a calculation from the reported segment figures, not a separately quoted margin in the cited release.
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AMD’s company-wide Q2 FY26 gross margin was 54%, compared with 40% in Q2 FY25, and company-wide operating income was $1.990 billion. These company-wide measures should not be substituted for Data Center segment profitability. The year-over-year gross-margin comparison also reflects a prior-year base affected by MI308-related inventory charges associated with U.S. export controls, as well as product mix.
Nvidia reported a 75.0% company-wide GAAP gross margin and $63.734 billion in company-wide GAAP operating income for Q2 FY27. The cited earnings release does not provide Nvidia Data Center segment operating income, so its company-wide profitability figures cannot establish the profitability of its Data Center business or be directly matched to AMD’s segment operating income.
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What products are driving data-center demand?
AMD: server processors and accelerators
AMD reports Data Center as a reportable segment. Its scope includes AI accelerators, server microprocessors, GPUs, APUs, DPUs, AI network interface cards, FPGAs, and adaptive SoC products for data centers. For Q2 FY26, AMD identified EPYC server processors and Instinct MI350 Series GPUs as key demand drivers.
AMD’s latest located full-year baseline is fiscal 2025: the company reported $16.6 billion in Data Center revenue and $3.6 billion in Data Center operating income. Data Center revenue grew 32% from fiscal 2024, driven primarily by EPYC processors and Instinct GPU accelerators. These annual results provide context, but they are not a substitute for the later Q2 FY26 quarter.
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Nvidia: accelerated computing and AI systems
Nvidia said demand for accelerated computing and AI solutions drove growth, and that Blackwell accounted for most system shipments in Q2 FY27. Its two operating segments are Compute & Networking and Graphics; Compute & Networking revenue should not be treated as equivalent to Data Center revenue. Nvidia’s Q2 FY27 Form 10-Q also says production shipments of its Vera Rubin data-center architecture began in Q3 FY27.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Are Nvidia and AMD’s data-center financials directly comparable?
They are comparable in useful but limited ways. Reported Data Center revenue helps show the scale of each company’s business for the stated quarter. AMD’s disclosed segment operating income also gives a view of its Data Center segment’s reported operating result. But the reporting boundaries differ: AMD’s segment includes server CPUs and a broad range of accelerator, networking, and adaptive-computing products, while Nvidia reports two operating segments and separately communicates Data Center revenue.
- For scale: compare Data Center revenue, keeping the fiscal quarter and end date attached to each figure.
- For growth: compare year-over-year segment growth rates for equivalent periods. AMD’s reported Q2 FY26 increase is not enough by itself to establish which company grew faster in the mismatched periods shown here.
- For segment profitability: AMD reports Data Center operating income; the cited Nvidia release does not. Do not use Nvidia’s company-wide operating income as a stand-in.
- For company-wide context: gross margin and operating income describe the whole company, not just its Data Center business.
- For market share or product comparisons: these financial disclosures alone do not establish precise market share, unit shipments, or product-for-product equivalence.
What execution risks and commitments matter?
Nvidia: capacity and deployment constraints
Nvidia’s Q2 FY27 Form 10-Q reported $279 billion in supply and capacity commitments as of July 26, 2026, up from $119 billion the prior quarter. The filing also described risks involving manufacturing capacity, supply, product quality, customer deployment readiness, and access to land, power, data-center shells, and capital. Commitments indicate planned capacity arrangements, not guaranteed realized sales; infrastructure or customer-readiness constraints can affect when products are deployed.
AMD: large intended deployments
AMD’s Q2 FY26 Form 10-Q says OpenAI and Meta each intend to deploy up to 6 gigawatts of AMD data-center GPUs under multi-year agreements, with initial deployments powered by MI450 Series products. AMD also disclosed warrants tied to purchase milestones and other conditions. The stated intentions and agreement terms are not the same as completed deployments or assured revenue.
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