The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← AMD

Capital · deployed

TTM buybacks ~$1.5B (FY25 $1.9B); capex ~$1.2B; AI-GPU R&D + ZT Systems / Xilinx integration; strategic partner equity (e.g. Anthropic-linked)

high confidence · as of 2026-07-26 · about AMD

Sourced figures 1


the working

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