(Image credit: AMD) On Tuesday, AMD reported its financial results for the first quarter of 2026. Driven by record demand for AMD's EPYC server processors, Ryzen CPUs, and Instinct accelerators, the company's revenue totaled $10.253 billion, slightly down quarter-over-quarter (QoQ), but up significantly year-over-year (YoY). Furthermore, AMD raised its long-term outlook for the server CPU market, expecting it to reach $120 billion by 2030 due to increased demand from AI and agentic AI workloads. At the same time, the company admitted that sales of its AI accelerators were down sequentially. For the quarter ending March 28, AMD generated $10.253 billion in revenue, down slightly from $10.270 billion in the fourth quarter, but up 38% compared to $7.438 billion in the first quarter of 2025. The company's GAAP net income nearly doubled to $1.383 billion from $709 million as its gross margin hit 53%, up 3% YoY. Operating income rose 83% year-over-year to $1.476 billion.…