Top semiconductor design company AMD (NASDAQ: AMD) is continuing its hot streak. The company reported earnings Tuesday after the market closed, and CEO Lisa Su announced revenue of $6.55 billion in the second quarter of 2022, representing year-over-year growth of 70%. The rapid rate of expansion was helped in a big way by the acquisition of fellow chip company Xilinx back in February, but organic growth was impressive too. Data center sales, in particular, were up 83% compared to last year.  

As cloud computing steadily increases in importance throughout the economy, data center upgrades are ramping up to keep pace. These basic computing units of the cloud are a top reason to be invested in AMD stock right now. Is it still a buy after the Q2 update?

Starting with Q2 2022, AMD is reorganizing its business segments for financial reporting purposes. With the mega-merger with Xilinx now complete, a whole new unit dubbed "embedded segment" was created to account for enterprise end-markets that Xilinx served on a stand-alone basis. A separate enterprise unit now simply called "data center segment" was broken out from what used to be AMD's catch-all for business applications of its chips.  

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Source Fool.com