GM
General Motors Company
stock NYSE

The transcript sounds significantly more bullish than the press release alone.
Key takeaways:
• 2027 Data Center: AMD expects Data Center revenue to more than double in 2027. Lisa later clarified this as “well over 100%” growth.
• Instinct / AI: When CJ Muse implied roughly $30B of Instinct revenue in 2027, Lisa basically said that number is probably too low.
• Helios ramp:
  • Q3 = initial ramp
  • Q4 = meaningful step-up
  • Q1 2027 = another step-up
  • then continued ramp throughout 2027
• Helios demand: Lisa clarified that “ahead of initial forecasts” referred to volume / demand, not just yields.
• Gigawatt economics: Lisa said revenue per GW remains in the double-digit billions range.
• Supply: AMD said they have enough supply to more than meet the guidance they discussed, with upside potential. They also said HBM visibility for 2027 is good.
• CPU side: Server CPU revenue is expected to grow >80% YoY in H2 2026 and >70% YoY in 2027 off a higher base.
• Margins: This is the main caveat. Data Center AI / Helios appears to be slightly below corporate gross margin, but server CPU and Embedded should partially offset that. That’s likely why GM is staying around ~56% for now.
My read: the call was stronger than the AH reaction.
If AMD actually executes on this, the move looks more like sell-the-news / margin anxiety / crowded trade pressure than a thesis break.
Most bullish line to me: $30B Instinct revenue in 2027 might be too low.
That’s a pretty big statement.

The reduced gross margin can be explained. They pay RYM 16.5M in licensing fees which is basically their hemp derived shell that regardless roll into GTII. This is captured in cost of goods sold.
The GM are around 48-50% normalized then you have the ability for RYM to continue growing the senorita brand. If hemp gets banned and there’s no carve out.. Gtii takes control of RYM + the 42M cash balance.

Well, you’re just factually wrong on that front. GM IQ is significantly higher than average and 130 is one of the more common estimates.

When you’re government bails out GM, Chrysler, Citigroup, Bank of America, JP Morgan, Wells Fargo, AIG, etc.. out of bankruptcy instead of letting them fail and have others rise to take their place, you don’t live in a capitalist society.

Guide is $13B plus/minus $300M at 56% non-GAAP GM

In last earnings call, they said they were more or less printing a bunch of Genoas on 5nm (6nm for I/O). I think gross margins do have a nice boost, especially looking at Intel's reported ASP increases, though I have mixed feelings on how this applies to AMD so I'll link another comment I made:
[https://www.reddit.com/r/AMD\_Stock/comments/1vfg86d/comment/p1pfiw5/?utm\_source=share&utm\_medium=web3x&utm\_name=web3xcss&utm\_term=1&utm\_content=share\_button](https://www.reddit.com/r/AMD_Stock/comments/1vfg86d/comment/p1pfiw5/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button)
The CPU shortage has been called for a while now. Next quarter should be in full swing GM uplift, but yeah this quarter is harder to call

12B would be a pretty big beat, would probably have to be coupled with a big jump in GM. Generally, because of long lead times, they can't beat that much on units but they could on pricing.

It's a bet on what's good enough for the average consumer and what they want. No one else will have the real world data to train driving and try to push the capabilities as much as Tesla will.
But if Ford/GM buys into NVDA or some other system and provides a decent drivers assist that can do 80% of the capabilities for a fraction of the price, which would the average consumer prefer or buy?
TSLA valuation is quite high and to me, prices in a decent amount of growth of FSD and local robotaxis. In order for TSLA to get a lot higher and justify it in a traditional sense, it needs to push into transport as a service and some sort of monopoly on humanoid bots.

GM

The only issue is that the CCP subsidizes these companies. China would run GM out of business then raise their prices 50% overnight.
It’s the same thing that ran out of a local grocery market in my area. Dollar General came in and started selling gallons of milk for under $2 a gallon, well below cost. Once the local store closed the milk became $4 a gallon.

GM bulls

on spy/qqq or on single stocks? I feel there are some good single stocks to go bearish on - I feel like GM and possibly XLV (healthcare) might decline in the short term

How could a serious car review channel w over a million subscribers call GM super cruise the “absolute best”. FSD didn’t appear yesterday. There are literally thousands of hours of video on YouTube showing that FSD is head and shoulders above Super cruise…