Our next question is coming from Mitch Steves from RBC Capital Markets. And that mix of revenue, as it ramps throughout the year, will obviously have an impact on a quarterly basis.From an annual standpoint, we feel pretty good with the guide at 45%, in particular, with the seven-nanometer products ramping as we get to the year. Personal Finance Cash, cash equivalents and marketable securities totaled 1.5 billion at year end, while gross debt was 563 million. So we just completed the fourth quarter, and it was a very strong quarter for us, record revenue for the Company. Your line is now live.Thanks for taking my question. I guess, I asked that because I'm just, you know, trying to see what the gross margin will be exiting this year if you strip out semi-custom. You think you get strong double digits in second half versus second half growth across all the businesses?I would say, in aggregate, you will see — so let me help you with this way. So GPU plus server in prior quarters. If you have not reviewed these documents they can be found on the Investor Relations page of AMD’s website amd.com.Participants on today’s conference call are Dr. Lisa Su, our President and Chief Executive Officer; and Devinder Kumar, our Senior Vice President, Chief Financial Officer and Treasurer. Your line is now live.Thank you for squeezing me in. So obviously, there's investments needed to go ahead and grow the business from an absolute standpoint, but we feel we can manage it to about 28% of our revenue overall for the year.Matt, the only thing I'll add to that is for the data center revenue, particularly in Q4, it was very heavily weighted toward server CPU, just given some of the lumpiness of the data center GPU revenue.Thank you. Devinder, you said the sequential decrease in the March 2020 quarter is driven primarily by the drop-in game console chips. Now, I'd like to turn the call over to Devinder, to provide some additional color on our fourth-quarter and full-year financial performance.Thank you, Lisa, and good afternoon, everyone. Gross margin of 43% was up 420 basis points from the prior year, driven by our current generation of Ryzen and EPYC products.Operating expenses were 31% of revenue as we increase go to market activities and investments in R&D. Thank you. Total revenue of $2.13 billion was up 50% from the same period last year and above forecasts of $2.11 billion. And from an overall standpoint for the year, it is 45%, and that’s because the semi-custom business, which is lower than corporate average, does come back. What’s driving it? I thought you said the semi-custom as well, we grow double digit, I just want to confirm that? Webcast. I just want to make sure I heard you right. Thanks for taking my question. What effect will that have on the pricing in the market? And then just following on, I don't know if the units are going to be, but is there a content or ASP story to layer on top of that equation as well?Yeah. And what are the drivers that take it higher from here? Full-year free cash flow was 276 million.We reduced principal debt by almost 1 billion in 2019, and ended the year with less than $600 million of gross debt.
You will also find detailed discussions about our risk factors in our filings with the SEC and in particular AMD’s quarterly report on Form 10-Q for the quarter ended September 28, 2019.Thank you, Laura, and good afternoon to all those listening in today. driven by higher EPYC processor sales. As we go into 2020, I think we are again enthusiastic about our products. I guess I was thinking that — I know you’ve historically had a high cost structure because of high bandwidth memory. I was talking about revenues from December into Q1, the sequential drop. And that mix of revenue, as it ramps throughout the year, will obviously have an impact on a quarterly basis. Thank you very much. So we feel good about that having ended 2019 at the 43% level.And from a puts and takes standpoint, it’s certainly product mix. Does that mean that you expect your microprocessor and graphics revenues will be flattish sequentially? So we’re pretty excited about that, and we’ll talk more about that at our Financial Analyst Day. I think you should expect that we will have, you know, additional, you know, sort of customer announcements outside of cloud gaming.Thank you. We achieved our highest annual gross margin percentage and annual free cash flow since 2011, and we improved non-GAAP earnings per share by 39% year-over-year.In short, we are very pleased with our financial performance.Fourth quarter revenue was $2.13 billion, up 50% from a year ago and up 18% from the prior quarter, driven by strong sales of Ryzen and EPYC processors and Radeon GPUs, partially offset by softer semi-custom sales. Or if not, roughly, what does your guidance assume in terms of percentage sequential drop for, say, PC processors and GPUs? In terms of our market share targets, Vivek, I think we'll talk a little bit more at our financial analyst day about some of the longer-term targets. So, look, I think you're right.
Thank you. And on the data center GPU side, you should also expect that we'll have some new products in the second half of this year.Thank you. Is this an area that you think you have some unique IP you can bring to? There are some discussions about, let's call it, pockets of shortages.But, you know, as I said before, I don't believe -- we've been on this steady increase in market share now for the last eight quarters, and we believe we've gained share in Q4 as well, so, I think what we see is just the portfolio getting a lot stronger. Q4 2019 AMD Earnings Call. You know, data center, it's as, you know, we said in the past, mid-teens of revenue. We are in the initial stages of planning for the ramp, and you're asking about Q3, Q4. On an annual basis, but, excluding semi-custom, we grew over 20% through all the rest of the businesses.If I do that same type of calculation, excluding semi-custom for 2020, we would still say the rest of the businesses would grow greater than 20%.Thank you.