AMD's AI Strategy Pivot from Chips to Systems

AMD shifts to enterprise AI systems with inference-first, hybrid AI, and ecosystem partnerships (OpenAI, Anthropic, Meta). Helios rack-scale architecture and ROCm.AI differentiation could reshape margin profiles and competitive positioning vs Nvidia. Updated: AMD Q2 beat with 50% revenue growth, data center revenue doubled, Helios rack shipping this quarter, capex surge to $808M. Stock down 9% after-hours despite beat, indicating market wants higher guidance.