Intel (NASDAQ:INTC) and Advanced Micro Devices (NASDAQ:AMD) both closed fiscal year 2025 with Q4 earnings that tell very different stories. Intel is fighting to rebuild credibility around its manufacturing ambitions and AI positioning while AMD is executing at pace, turning a once-niche challenger into a genuine data center powerhouse.
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Intel (INTC) posted Q4 revenue of $13.67B (+2.14% vs. estimate) with Data Center up 9% to $4.74B, but foundry losses hit $2.51B in Q4 alone; AMD (AMD) crushed expectations with Q4 revenue of $10.27B (+5.64% vs. estimate) and +34.1% year-over-year growth, with Data Center revenue surging 39% to a record $5.38B driven by EPYC processors and Instinct GPUs.
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Nvidia (NVDA) committed a $5.0B equity investment in Intel to support 18A manufacturing credibility.
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Intel is spending heavily on foundry ambitions while AMD’s fabless model and execution are capturing AI infrastructure demand faster, though AMD faces China export control headwinds that could impact MI308 GPU sales.
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Intel’s Q4 revenue came in at $13.67B, beating the $13.39B estimate by 2.14%, but fell 4.1% year over year. The Data Center and AI segment grew 9% to $4.74B, offset by the Client Computing Group, which declined 8% to $8.19B. The foundry business posted a $2.51B operating loss in Q4 alone.
AMD’s quarter stood out on its own merits. Q4 revenue reached $10.27B, beating estimates by 5.64% and rising 34.1% year over year. Its Data Center segment hit a record $5.38B, up 39% year over year, powered by EPYC server processors and Instinct GPU shipments. The Client segment grew 34% to $3.10B. Lisa Su called 2025 “a defining year for AMD, with record revenue and earnings driven by strong execution and broad-based demand for our high-performance and AI platforms.”
|
Business Driver |
Intel (Q4 FY2025) |
AMD (Q4 FY2025) |
|---|---|---|
|
Total Revenue |
$13.67B |
$10.27B |
|
Revenue YoY Growth |
-4.1% |
+34.1% |
|
Data Center Revenue |
$4.74B (+9%) |
$5.38B (+39%) |
|
Q4 Net Income |
-$591M |
$1.51B |
|
Non-GAAP Gross Margin |
~34-40% |
~55-57% |
Intel carries the full burden of an integrated device manufacturer, spending $4.02B in Q4 capital expenditures building out Intel 18A, its most advanced U.S.-manufactured process node. That bet could be transformative if external foundry customers materialize, but it costs enormously today. AMD spent just $222M in Q4 capex as a fabless company, relying on Taiwan Semiconductor Manufacturing (NYSE:TSM) while directing resources toward product design.