AMD · 10-K · 2025A · Full report
Operating Expense Trends
ADVANCED MICRO DEVICES INC · 2026-02-04 · Importance 89 · Surprise 82
Research and development expense increased 25% year-over-year to $8.091 billion in 2025, a $1.635 billion increase driven primarily by higher employee-related costs and increased headcount to support AMD's AI strategy. Marketing, general and administrative expenses increased 52% to $4.144 billion in 2025, a $1.409 billion increase driven primarily by expanded go-to-market activities supporting revenue growth. Amortization of acquisition-related intangibles included in operating expenses totaled $1.223 billion in 2025. The company indicated R&D headcount growth and elevated go-to-market investments as primary drivers of operating expense expansion.
Key facts
- Research and development expenses for 2025 were $8.091 billion, an increase of $1.635 billion or 25% from $6.456 billion in 2024.
- Amortization of acquisition-related intangibles totaled $2.254 billion in 2025 (sum of $1.031 billion cost of sales line and $1.223 billion operating expense line) and decreased by $140 million or 6% from 2024.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -4.7% | Research and development expenses for 2025 were $8.091 billion, an increase of $1.635 billion or 25% from $6.456 billion in 2024. |
| operating_income | positive | realized | +0.4% | Amortization of acquisition-related intangibles totaled $2.254 billion in 2025 (sum of $1.031 billion cost of sales line and $1.223… |