Rambus posts record $218.3 million quarter as AI servers demand more memory

Rambus just turned the AI server boom into its best quarter on record. The company reported third-quarter 2026 revenue of $218.3 million, up 22% from the same period a year earlier. That figure cleared the company’s own forecast of $210 million to $216 million. Shares rose more than 5% in after-hours trading following the October 26, 2026 report. The numbers behind the record Product revenue drove the headline result. It hit a record $114.3 million, up 22% year over year and 15% from the prior quarter. Royalties held steady at $77.0 million. Licensing remains a reliable cushion, while the product business supplies the momentum. Non-GAAP diluted earnings per share came in at $0.84, a 35% jump from a year earlier. Cash generation also set a record. Operating cash flow reached $102.5 million for the quarter. Rambus repurchased $135.4 million in shares during the quarter, more than its operating cash flow for the period. Looking ahead, management guided fourth-quarter revenue to a range of $227 million to $233 million. Why AI servers keep calling Rambus The company’s growth was led by its DDR5 registered clock drivers, or RCDs. These chips sit on server memory modules and help keep tim...