“We expect non-GAAP gross margin to be approximately 51.5%, non-GAAP operating expenses to be approximately $1.74 billion, non-GAAP effective tax rate to be 13% and the diluted share count is expected to be approximately 1.63 billion shares.”

In context

“hareholders, repurchasing 4.8 million shares and we have $5.8 billion in remaining share repurchase authorization. Now turning to our fourth quarter 2023 outlook. We expect revenue to be approximately $6.1 billion, plus or minus $300 million, an increase of approximately 9% year-over-year and 5% sequentially. Year-over-year, we expect revenue for the Data Center and the Client segments to be up by strong double-digit percentage, the Gaming segment to decline, given where we are in the console cycle, and the Embedded segment to decline due to additional softening of demand in the embedded market. Sequentially, we expect Data Center segment to grow by strong double-digit percentage, Client segment revenue to increase and the Gaming and Embedded segment to decline by double-digit percentage. We expect non-GAAP gross margin to be approximately 51.5%, non-GAAP operating expenses to be approximately $1.74 billion, non-GAAP effective tax rate to be 13% and the diluted share count is expected to be approximately 1.63 billion shares. In closing, I’m pleased with our execution in the third quarter with year-over-year growth in revenue, gross margin and earnings per share. In the fourth quarter, we expect to benefit from strong Data Center and Client momentum, driven by MI300 AI accelerated ramp and the strength of our high performance leadership Zen 4 family of products despite lower sales in the Gaming segment and additional softening of demand in the embedded market. Looking ahead, the investment we are making in AI across our Data Center, Client, Gaming and the Embedded segment enable us to offer one of the best industry’s broadest portfolio, targeting the most compelling opportunities and positioning us to drive long-term profitable growth. With that, I’ll turn it back to Mitch for the Q&A session. Mitch Haws: Than”