Advanced Micro Devices (AMD) CEO Lisa Su said in Taipei on Monday, October 6, that the chipmaker will “substantially increase our supply in 2027” as AI orders keep outrunning what it can build. Su met Foxconn and TSMC to plan more CPU and GPU output, and she plans to head to South Korea next to secure memory from Samsung and SK Hynix.
The comments land with AMD stock up more than 200% this year and the company worth over $1 trillion.
Supply Is AMD’s Bottleneck Now
“There’s very, very high demand for the next several years,” Su told Reuters, adding that AMD needs more advanced wafer capacity. AMD now plans capacity three to five years out, up from one to two.
That changes the question for shareholders. AMD can sell what it makes. The limit is how much Taiwan Semiconductor Manufacturing Company (TSM) can print and how much high-bandwidth memory (HBM, the stacked memory that feeds AI chips) AMD can lock up.
What the 2027 Numbers Already Assume
AMD’s data center segment earned a record $2.10 billion in operating income in the June quarter. That’s up 31% from the March quarter and double the $1.04 billion it made two years earlier, and AMD managed it without enough chips to meet demand.
Analysts expect $51 billion for 2026, then $89 billion for 2027. That’s a 75% jump, or $38 billion of new revenue in one year. That’s more than AMD’s entire 2025 sales of $34.64 billion.
To hit $89 billion, AMD has to average about $22 billion a quarter, nearly double the $11.54 billion it booked in the June quarter. Su’s supply push has to close that gap.
AMD Stock Already Prices In the Ramp
AMD stock trades at 58x next-12-month earnings. That compares with a 38x average over the past three years and a 67x peak this summer.
So I read Su’s remarks as backing up the forecast more than adding to it. The Street already models the 2027 surge, and the multiple already pays for it. What would move the stock now is how much supply AMD actually secures in Taiwan and Korea.
That also puts AMD’s suppliers in focus. Taiwan Semiconductor (TSM) controls the advanced wafer capacity Su is chasing, and Micron (MU) sells into the same tight HBM market. Nvidia (NVDA) is competing for that same capacity.
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