Analog Devices Inc

Q2 FY2025 (ended May 3, 2025) total revenue $2,640,068K, up 22% YoY. Communications $315,060K (12%), up 32% YoY — the fastest-growing segment. Filing states: 'increases in the Communications end market are primarily driven by growth in the wireline sub-market from data center infrastructure build outs, primarily to support growth in artificial intelligence applications.' Communications growth is explicitly AI-driven via wireline. At 32% YoY growth, Communications is accelerating. Wireline AI demand is clearly the driver. Also, 6-month view confirms: 'increases in the Communications end market are primarily driven by growth in the wireline sub-market from data center infrastructure build outs, primarily to support growth in artificial intelligence applications.' Increasing to 4% reflecting the accelerating AI-driven wireline Communications growth plus incremental AI data center power management content in Industrial. Math: Comms $315M * ~0.60 (wireline) * ~0.60 (AI share) = ~$113M. Industrial AI data center power ~$35M. Total ~$148M / $2,640,068K = ~5.6%. Conservative at 4% given uncertainty in sub-segment splits.