📊Executive Summary

AMD's Data Center revenue surged 57% to $6 billion in Q1 FY26, driven by partnerships with major cloud providers like Meta, OpenAI, AWS, and Google Cloud. In contrast, Intel reported a $4 billion net loss in the same quarter, highlighting significant operational challenges. AMD's fabless model allows it to allocate capital efficiently, resulting in a net cash position and robust free cash flow, while Intel struggles with high capital expenditures and restructuring costs. As AMD continues to gain market share and improve its financial health, procurement teams should consider the implications for sourcing strategies, particularly in the semiconductor space....