Advanced Energy Industries Inc

Q3 FY2025 total revenue was $463.3M. Semiconductor Equipment was $196.6M (42.4%), Data Center Computing was $171.6M (37.0%). DC Computing revenue more than doubled year-over-year ($80.7M in Q3 2024 to $171.6M) and is now approaching the size of Semiconductor Equipment. Japan revenue surged to $71.1M (15.3%), corroborating AI data center infrastructure demand. This dramatic shift in revenue mix — DC Computing going from ~17% of revenue in 2022 to 37% — strongly correlates with the global AI infrastructure buildout. AI-attributable Semi Equipment: ~15% x $196.6M = ~$29.5M. AI-attributable DC Computing: ~45% x $171.6M = ~$77.2M (a large and growing share of this segment is AI server power). Total: ~$106.7M / $463.3M = 23.0%, rounded conservatively to 20%.