NVIDIA reported $81.615 billion in Q1 FY2027 revenue and AMD delivered $10.253 billion in Q1 2026, with both companies citing agentic AI as the demand engine and listing OpenAI and Meta as customers. NVIDIA's Data Center revenue reached $75.246 billion, up 92%, with networking jumping 199%, while AMD's Data Center rose 57% to $5.775 billion on EPYC server CPUs and Instinct GPU shipments. OpenAI and Meta signed deals with both vendors because no single supplier can meet the demand curve. NVIDIA has $119.0 billion in supply commitments locked up, and AMD is scaling its own supply. The article notes NVIDIA's gross margin is 75.0% versus AMD's 55%, with forward revenue guides of $91.0 billion and approximately $11.2 billion respectively.