The headline is AMD’s $11.2B guide. The filing is a 160M-share warrant at $0.01 — Aug 4 data-center wave (AMD, ANET, WDC, GFS, SMCI)

Here is the gap between the headline and the filing going into Tuesday, August 4: the tape will grade AMD against its ~$11.2B revenue guide, while the document that actually re-prices the Meta relationship — an 8-K granting Meta a performance warrant for up to 160 million AMD shares at $0.01 each — barely made the headlines. If you trade AMD, Arista, Western Digital, or GlobalFoundries into this cluster, the bars are already on EDGAR. Emerson and Amtech share the calendar; Super Micro dropped a July 21 preliminary update (full call August 11); Eaton and Corning just reported — confirmed stack context, not tomorrow’s mystery.

This is research, not investment advice. If you want a price target, wrong page. Figures from SEC Exhibit 99.1 / 8-K / 10-Q / 6-K filings.

Who prints when (this wave)

AMD — Data Center is the company now

Q1 FY2026 Exhibit 99.1 (accession 0000002488-26-000072, May 5):

Lisa Su: Data Center is “the primary driver of our revenue and earnings growth,” with inferencing / agentic AI lifting CPUs and accelerators.

The Meta warrant most headlines skipped

An 8-K Item 1.01 (accession 0000002488-26-000045; detail also in the Q1 10-Q, 0000002488-26-000076) discloses a performance warrant granting Meta the right to buy up to 160 million AMD shares at $0.01 per share. Vesting starts with Meta’s first 1 GW of Instinct purchase commitments; full vesting requires 6 GW, with stock-price hurdles escalating to $600 per share for the final tranche. Exercisable through February 23, 2031 — and none had vested as of March 28, 2026. The structural read: Meta demand is real but milestone-gated, and the dilution arrives only if the gigawatts do. OpenAI sits alongside as the second hyperscaler anchor — a multiyear agreement for up to 6 GW of Instinct (per the DEF 14A / 10-K).

Aug 4 scorecard: (1) revenue vs the $11.2B mid-point, (2) Data Center still near +50% territory, (3) Instinct vs EPYC mix, (4) GM path toward mid-50s non-GAAP, (5) any Meta / OpenAI gigawatt-commitment progress on the call — that is what moves the warrant math.

Arista — AI networking at 35% growth

Q1 Exhibit 99.1 (accession 0001596532-26-000074, May 5):

Deferred revenue sat near $4.9B current + $1.3B non-current. The product tell is the XPO MSA: the release claims it can “reduce networking racks by up to 75% and save up to 44% of floor space” versus pluggable optics — the density claim Tuesday should extend or qualify.

Aug 4 scorecard: guide vs Street; AI/cloud vs campus mix; deferred revenue conversion; margin hold in the mid-40s non-GAAP; XPO MSA traction.

Western Digital — storage cycle with 50%+ margins

Q3 FY2026 (quarter ended April 3) Exhibit 99.1 (accession 0001628280-26-028878, Apr 30):

The margin trajectory is the story: GAAP gross margin stepped from 45.7% in fiscal Q2 to 50.2% in Q3 — volume and pricing power in one line. Grade Tuesday against the Q4 guide, and against whether that GM step-up compounds or was the peak.

GlobalFoundries — specialty foundry into the same racks

Q1 2026 6-K Exhibit (accession 0001709048-26-000111, May 5):

CEO Tim Breen said results were at or above the high end of prior guidance. CPO / detachable fiber interface work shows up in the technology narrative — relevant next to Corning’s optical print.

Super Micro — prelim already on the tape (call Aug 11)

July 21 Exhibit 99.1 preliminary update (accession 0001375365-26-000019):

Read the fine print before the number: the same release cautions that some of these orders may not represent firm commitments and may be cancellable. Do not treat Tuesday as SMCI day. Do treat the >$60B claim — and how much of it is firm — as the debate the Aug 11 call must settle.

Emerson — automation check into the same Tuesday

FY Q2 (ended Mar 31) Exhibit 99.1 (May 5): Intelligent Devices and Control Systems held low-single-digit growth; company guided Q3 net sales ~5.5% (underlying ~5%) and EPS $1.22–$1.27, with FY2026 net sales ~4.5% (underlying ~3%) and EPS $4.79–$4.89. Capital return frame: ~$2.2B (repurchases + dividends). Tuesday is whether underlying growth holds as process/automation demand digests the AI capex cycle.

Just-reported stack context (not tomorrow’s print)

Eaton (Jul 31): Q2 sales $8.5B (+21%; +14% organic); Electrical Americas orders +41% on a twelve-month rolling average. The M&A stack is now sized: Boyd Thermal (data-center thermal) closed March 12, 2026 for $9.55B net of cash, and Fibrebond (modular power enclosures) around $1.43–1.45B — roughly $11B aimed at the data-center power-and-cooling layer. Adj. EPS guide raised to $13.40–$13.60.

Corning (Jul 28, accession 0000024741-26-000253): Optical Communications sales $2.07B (+32%); Enterprise Networks +65% with Gen AI products “growing significantly faster.” Two anchor deals in the release: a multiyear, multibillion-dollar optical agreement with Amazon, and an NVIDIA partnership under which Corning expands US optical connectivity manufacturing 10x and US fiber production by more than 50%. Q3 guide: core sales $4.9–5.0B (+16%), core EPS $0.85–0.89 (+28%).

Skyworks / Qorvo (Jul 28): mobile RF fiscal prints — same calendar week, different end-market. Useful only as “not every semi is a data-center semi.”

Amtech: small wafer/front-end equipment name on the Aug 4 list — grade vs the May 7 Exhibit 99.1 run-rate, not vs AMD.

One scoreboard for Tuesday

1. AMD — clear the ~$11.2B guide, and listen for gigawatt-commitment progress that starts vesting the Meta warrant.
2. ANET — hold mid-40s non-GAAP margins while AI networking scales; extend the 75%-fewer-racks XPO claim into orders.
3. WDC — prove the 45.7%→50.2% GM step-up was a trend, not a peak.
4. GFS — specialty foundry growth without blowing the margin guide.
5. EMR — underlying growth still in the mid-single digits.
6. Read ETN/GLW as confirmed demand in power and fiber — Boyd at $9.55B and Corning’s Amazon/NVIDIA agreements are the stack voting with capital.

Headlines move prices; filings size the exposure. Live multiples: AMD · ANET · WDC · GFS · SMCI · EMR · ASYS · ETN · GLW.

Primary sources

AMD Q1 Ex 99.1: https://www.sec.gov/Archives/edgar/data/2488/000000248826000072/q12026991.htm (0000002488-26-000072).

AMD 8-K Item 1.01 (Meta warrant): https://www.sec.gov/Archives/edgar/data/2488/000000248826000045/ (0000002488-26-000045); warrant detail also in the Q1 10-Q (0000002488-26-000076).

ANET Q1 Ex 99.1: https://www.sec.gov/Archives/edgar/data/1596532/000159653226000074/ex991q126-earningsrelease.htm (0001596532-26-000074).

WDC Q3 FY26 Ex 99.1: https://www.sec.gov/Archives/edgar/data/106040/000162828026028878/a4ex991-pressreleaseq326.htm (0001628280-26-028878).

GFS Q1 6-K Ex: https://www.sec.gov/Archives/edgar/data/1709048/000170904826000111/globalfoundries1q2026earni.htm (0001709048-26-000111).

SMCI FQ4 prelim: https://www.sec.gov/Archives/edgar/data/1375365/000137536526000019/fq42026businessupdate.htm (0001375365-26-000019).

GLW Q2 press release: https://www.sec.gov/Archives/edgar/data/24741/000002474126000253/ (0000024741-26-000253).

EMR / ETN Exhibit 99.1 releases as cited above (May 5 / Jul 31).

First step: before Tuesday’s open, spend five minutes in AMD’s 8-K Item 1.01 (0000002488-26-000045) and read the warrant vesting schedule — then you’ll know exactly what any “Meta expansion” headline is worth.

Research, not investment advice.