Advanced Micro Devices CEO Lisa Su made a rare comment about future sales for both Valve’s Steam Machines and Microsoft’s next-generation Xbox.
In her prepared remarks for the analyst earnings call today, Su said, “From a product standpoint, Valve is on-track to begin shipping its AMD-powered Steam Machine early this year, and development of Microsoft’s next-gen Xbox featuring an AMD semi-custom SoC is
progressing well to support a launch in 2027.”
Of course, Su doesn’t say that the console will launch for sure in 2027. She’s just saying that if it does, then AMD will be ready. AMD’s CFO noted that the consoles are in their seventh year and it’s likely time for a refresh. Microsoft exec Sarah Bond announced the AMD chip partnership last year.
She also said that “semi-custom sales (which includes game chips) increased year-over-year and declined sequentially as expected. For 2026, Su said expect semi-custom system-on-chip (SoC) annual revenue to decline by a significant double digit percentage as we enter the seventh year of what has been a very strong console cycle.”
We’ve asked AMD and Microsoft for more details. Su also addressed the topic in this video. AMD is designing a full roadmap of gaming optimized chips and it’s doing it with backward compatibility in mind. But the 2027 date is the interesting part.