AMD Set to Overtake Intel in Revenue for the First Time 2026

AMD is set to overtake Intel in quarterly revenue for the first time in its history, marking a dramatic reversal of fortunes in the semiconductor industry. The milestone, expected in the fourth quarter of 2026, caps a years-long surge by AMD under CEO Lisa Su while Intel has struggled to regain momentum under Lip-Bu Tan.

How AMD Closed the Revenue Gap with Intel

Just five years ago, Intel's revenue dwarfed AMD's. In 2021, Intel brought in $79 billion compared to AMD's $16.4 billion — nearly five times larger. But the tide began to turn in 2022, when Intel's revenue fell to $63.1 billion while AMD climbed to $23.6 billion.

By 2025, AMD's revenue had reached $34.6 billion, while Intel's had slipped further to $52.9 billion. The trend has continued through 2026, setting the stage for AMD's historic quarterly lead.

Q4 2026 Revenue Forecasts

AMD expects to generate approximately $17 billion in revenue during the fourth quarter of 2026. Intel, meanwhile, projects revenue between $15 billion and $16 billion for the same period. If those forecasts hold, AMD will officially surpass Intel in quarterly revenue for the first time.

Key Financial Milestones

• 2021: Intel revenue $79B vs AMD $16.4B
• 2022: Intel $63.1B vs AMD $23.6B
• 2025: Intel $52.9B vs AMD $34.6B
• Q4 2026 (projected): AMD $17B vs Intel $15–16B

What Drove AMD's Growth and Intel's Stagnation

AMD's rise has been fueled by strong demand for its EPYC server processors and Ryzen PC chips, which have gained market share against Intel's offerings. Under Lisa Su's leadership, AMD has consistently delivered competitive products that appeal to both data centers and consumers.

Intel, on the other hand, has faced manufacturing delays, increased competition, and challenges in diversifying its business. Despite efforts to turn things around, the company's revenue has remained largely flat or declined over the past five years.

Comparison of Revenue Trends

Why This Shift Matters for the Semiconductor Industry

AMD's projected quarterly lead signals a major realignment in the chip market. Intel has long been the dominant player, but AMD's consistent execution and Intel's struggles have eroded that lead. This shift could influence everything from data center investments to consumer PC choices.

For investors, the milestone underscores AMD's ability to grow revenue even as Intel works to stabilize its business. It also highlights the importance of product innovation and manufacturing efficiency in the highly competitive semiconductor space. The background to this story is set out in Adult Fans Drive Lego Sales Growth and Billion-Dollar Revenue. A related thread runs through Google Revenue Soars 12th Quarter – AI Spending Drives Growth. Earlier coverage in Tesla Profits Slide Despite Revenue Growth as AI Pivot Continues shows how the argument developed.

What to Watch Next

All eyes will be on the official Q4 2026 earnings reports to see if AMD's forecast holds. Beyond that, the long-term trajectory of both companies will depend on their ability to deliver next-generation chips and capture share in growing markets like AI and cloud computing. A closer look at the same subject appears in Google Earnings Surge: 12th Consecutive Quarter of Revenue. Anyone following the wider picture can start with Google Reports 12th Straight Quarter of Strong Revenue Gains. The same theme surfaces in Electric vehicles now almost quarter of Australia's new car sales, which takes a different angle.

Intel's turnaround efforts under Lip-Bu Tan will be critical, while AMD will need to sustain its momentum to maintain its newfound lead. The rivalry between these two chipmakers is far from over, but the balance of power has clearly shifted. Context on how this played out before sits in Intel vs TSMC: Diverging Paths in High-NA Lithography. A companion piece, Intel Chip Outperforms Apple M1 in Efficiency Benchmark, approaches the same subject from another angle.