Between 2000 and 2015 AMD reported a cumulative net loss of $8.2 billion, produced negative free cash flow in fifteen of those years, and ended 2015 with negative shareholders’ equity of minus $412 million and a market capitalisation of $2.3 billion. Ten years later it earned $4.3 billion in a single year, held $63.0 billion of equity and closed 2025 worth $350.0 billion — 152 times the 2015 figure. In the second quarter of 2026 it did $11.5 billion of revenue, up 50%, with Data Center passing half the company for the first time at 58%. This is a full institutional-grade equity research report on Advanced Micro Devices, Inc. (Nasdaq: AMD), built from twenty-five annual reports, the quarterly filings and press releases through June 2026 and the earnings calls, into eight structured chapters and 61 rebuilt charts.
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