⚠ Notebooks: AMD Up 8.4 Points in a YearHigh threat

Intel (INTC) — threat to the moat

AMD took 8.4 points of notebook processors from Intel in one year, in the segment Intel's customer relationships were meant to protect.

Intel's biggest share loss is in the market it long considered safest. AMD's share of x86 notebook processors reached 28.9% in the second quarter of 2026, up 8.4 points in a year1, and its desktop share 34.9%2. Across PC and server units together, Intel's share fell to 69.3%, below 70% for the first time since 19953.

AMD share of x86 CPUs, Q2 2026 (%)28.9%Notebook30.3%Client34.9%Desktop34.5%Server unitsMercury Research via Basic Tutorials and HotHardware
AMD holds about a third of every segment.

Notebooks matter because they are designed by PC makers years ahead and sold in volume to businesses. A lost notebook platform is a lost design cycle. Intel's three largest customers, historically Dell, Lenovo and HP4, accounted for 43% of its revenue in 20255; each design they move to AMD removes a large block of volume at once.

Supply made it worse. Intel says market demand exceeded its available product supply in the second quarter of 20266. A PC maker that cannot get enough Intel chips designs in the alternative.

The change matters more for profit than the unit share suggests, because AMD's gains are concentrated where prices are highest. Mercury Research estimated AMD at 38.1% of the value of all x86 processors in the first quarter of 20267, well above its unit share. Intel keeps more of the units than of the money.

Watch AMD's notebook share over the next four quarters. If it keeps rising after Intel's supply catches up, the loss is about the product, not the shortage.

References
  1. Third-party estimateAMD's share of x86 notebook processors reached 28.9% in the second quarter of 2026, up 8.4 points in a year, and its desktop share 34.9%.
    Basic Tutorials, Mercury Research Q2 2026 client shares: AMD 30.3% of x86 client CPUs, 34.9% of desktop and 28.9% of notebook. — Q2 2026 · publ. August 2026 · source ↗
  2. Third-party estimateAMD's share of x86 notebook processors reached 28.9% in the second quarter of 2026, up 8.4 points in a year, and its desktop share 34.9%.
    Basic Tutorials, Mercury Research Q2 2026 client shares: AMD 30.3% of x86 client CPUs, 34.9% of desktop and 28.9% of notebook. — Q2 2026 · publ. August 2026 · source ↗
  3. Third-party estimateAcross PC and server units together, Intel's share fell to 69.3%, below 70% for the first time since 1995.
    TechPowerUp, Mercury Research Q2 2026: Intel's share of PC and server x86 units at 69.3%, below 70% for the first time since 1995. — Q2 2026 · publ. 25 August 2026 · source ↗
  4. ReportedIntel's three largest customers, historically Dell, Lenovo and HP, accounted for 43% of its revenue in 2025; each design they move to AMD removes a large block of volume at once.
    Intel Form 10-K for fiscal 2023 - customer concentration naming Dell, Lenovo and HP, headcount, and revenue by billing region including China in 2021. — FY2023 · publ. January 2024 · source ↗
  5. ReportedIntel's three largest customers, historically Dell, Lenovo and HP, accounted for 43% of its revenue in 2025; each design they move to AMD removes a large block of volume at once.
    Intel Form 10-K for fiscal 2025 (year ended 27 December 2025) - Item 1 business: products, process technology, competition, manufacturing and customers. — FY2025 · publ. 23 January 2026 · source ↗
  6. ReportedIntel says market demand exceeded its available product supply in the second quarter of 2026.
    Intel Form 10-Q for the quarter ended 27 June 2026 - segments, the Ireland SCIP repurchase, escrowed shares, Intel 14A, customer deposits and debt. — Q2 2026 · publ. 24 July 2026 · source ↗
  7. Third-party estimateMercury Research estimated AMD at 38.1% of the value of all x86 processors in the first quarter of 2026, well above its unit share.
    Tom's Hardware, Mercury Research Q1 2026: AMD at 46.2% of x86 server CPU revenue and 38.1% of all x86 CPU market value. — Q1 2026 · publ. 14 May 2026 · source ↗
Sources
Generated September 25, 2026