Advanced Micro Devices Inc. posted record second-quarter revenue of $7.69 billion, a 32% increase from a year earlier and ahead of the $7.43 billion analysts expected. Adjusted earnings were 48 cents a share, slightly below the 49-cent consensus, while GAAP earnings rose to 54 cents a share on net income of $872 million. Data-center sales climbed 14% to $3.2 billion, buoyed by demand for EPYC server processors, offsetting curtailed shipments of MI308 AI accelerators to China. The export restrictions triggered about $800 million of inventory-related charges, leaving AMD with a GAAP operating loss of $134 million and trimming gross margin to 40%. On a non-GAAP basis, margin was 43%, or 54% when the charge is excluded. For the current quarter, AMD projected revenue of $8.4 billion to $9.0 billion, with a midpoint of $8.7 billion that surpasses Wall Street’s roughly $8.3 billion forecast. The company expects non-GAAP gross margin to improve to about 54%, citing continued momentum for its Instinct MI350 accelerators and Ryzen and EPYC processors. The stronger-than-expected outlook failed to lift the stock, which fell as much as 5% in late trading after an initial swing higher. AMD shares remain up about 47% this year, outpacing Nvidia’s 33% gain as investors wager the chipmaker can capture a larger share of the fast-growing market for artificial-intelligence hardware.