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Segment Reporting
6 Months Ended
Jun. 28, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Management, including the Chief Operating Decision Maker (CODM), who is the Company’s Chief Executive Officer, reviews and assesses operating performance using segment net revenue, cost of sales and operating expenses, and operating income (loss). These performance measures include the allocation of expenses to the reportable segments based on management’s judgment. The CODM is regularly provided segment operating income to assess relative segment performance.
Beginning with the fiscal year ending December 27, 2025, the Company changed its segment structure, combining the Client and Gaming segments into one reportable segment to align with how the Company manages its business. All prior period segment data were retrospectively adjusted. The Company’s three reportable segments are:
the Data Center segment, which primarily includes Artificial Intelligence (AI) accelerators, microprocessors (CPUs) for servers, graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs) and Adaptive System-on-Chip (SoC) products for data centers;
the Client and Gaming segment, which primarily includes CPUs, APUs, chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services; and
the Embedded segment, which primarily includes embedded CPUs, GPUs, APUs, FPGAs, System on Modules (SOMs), and Adaptive SoC products.
From time to time, the Company may also sell or license portions of its IP portfolio.
In addition to these reportable segments, the Company has an All Other category, which is not a reportable segment. This category primarily includes certain expenses and credits that are not allocated to any of the reportable segments because the CODM does not consider these expenses and credits in evaluating the performance of the reportable segments. This category primarily includes amortization of acquisition-related intangibles, employee stock-based compensation expense, acquisition-related and other costs, inventory loss at contract manufacturer, and restructuring charges. Acquisition-related and other costs primarily include certain compensation charges and transaction costs.
The following table provides a summary of net revenue, cost of sales and operating expenses, and operating income (loss) by segment. Segment cost of sales and operating expenses primarily include materials, external manufacturing, labor and marketing and advertising costs, and exclude expenses and credits that are recorded within the All Other category. Neither of the Client and Gaming businesses qualify as a separate reportable operating segment, however, the Company continues to separately disclose revenue for each business.
Three Months EndedSix Months Ended
June 28,
2025
June 29,
2024
June 28,
2025
June 29,
2024
(In millions)
Net revenue:
Data Center$3,240 $2,834 $6,914 $5,171 
Client and Gaming
Client2,499 1,492 4,793 2,860 
Gaming1,122 648 1,769 1,570 
Total Client and Gaming3,621 2,140 6,562 4,430 
Embedded824 861 1,647 1,707 
Total net revenue$7,685 $5,835 $15,123 $11,308 
Cost of sales and operating expenses:
Data Center
$3,395 $2,091 $6,137 $3,887 
Client and Gaming
2,854 1,974 5,299 4,027 
Embedded
549 516 1,044 1,020 
All other1,021 985 1,971 2,069 
Total cost of sales and operating expenses
$7,819 $5,566 $14,451 $11,003 
Operating income (loss):
Data Center$(155)$743 $777 $1,284 
Client and Gaming767 166 1,263 403 
Embedded275 345 603 687 
All other (1)
(1,021)(985)(1,971)(2,069)
Total operating income (loss)
$(134)$269 $672 $305 
(1)
For the three and six months ended June 28, 2025, all other operating losses primarily included $568 million and $1.1 billion of amortization of acquisition-related intangibles, and $369 million and $733 million of stock-based compensation expense, respectively.

For the three and six months ended June 29, 2024, all other operating losses primarily included $603 million and $1.2 billion of amortization of acquisition-related intangibles, and $346 million and $717 million of stock-based compensation expense, respectively.