AMD · 10-K · 2025A · Full report

Export Control Inventory Charges

ADVANCED MICRO DEVICES INC · 2026-02-04 · Importance 78 · Surprise 100

In Q2 2025 AMD recorded approximately $800 million of inventory and related charges on AMD Instinct MI308 GPUs due to new U.S. export restrictions to China. During Q4 2025 AMD began shipping licensed MI308 products and reversed about $360 million of those earlier charges, resulting in a net charge of roughly $440 million. AMD applied for and received some U.S. government licenses permitting shipments to certain China-based customers. U.S. officials have expressed an expectation that 15% of revenue from licensed MI308 China sales would be allocated to the U.S. government, but no regulation has been published to date.

Key facts

• Approximately $440 million of net inventory and related charges in 2025 were associated with U.S. government export control on AMD Instinct MI308 Data Center GPU products.
• During the second quarter of fiscal 2025, the Company recorded approximately $800 million of inventory and related charges on AMD Instinct MI308 Data Center GPU products due to new U.S. export restrictions to China.
• During the fourth quarter of fiscal 2025, AMD reversed approximately $360 million of the inventory and related charges previously recorded on MI308 products.

Impact estimates