Air Liquide (ADR)
AIQUFQ4 2022(AIQUF Q3 FY2022)Estimated0.5% AI
AI Revenue %
0.5%
AI Fair Value
$201.9M
AI Revenue (Q)
$37.5M
Total Revenue (Q)
$7.5B
Source: SEC EDGAR SEC Filing Filing
Browse SEC Filing filings on SEC.govAnalysis
Q3 2022 estimated total revenue ~€7.6B. Electronics segment ~€650M. Semiconductor industry beginning to show signs of cyclical slowdown in memory and consumer chips, but fab utilization still high at leading-edge nodes. AI chip production (A100/H100 early production) remained a minor share of total gas consumption at semiconductor fabs. Air Liquide's gas supply contracts are typically long-term take-or-pay, so short-term demand shifts in chip mix have limited impact on gas volumes. Estimate unchanged. Math: €7.6B × 0.5% = ~€38M estimated AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Air Liquide signed new long-term on-site gas supply contracts for semiconductor fabs in Asia during 2022
Air Liquide 2022 corporate announcements
Electronics business line delivered strong growth throughout 2022 driven by global semiconductor capex cycle
Air Liquide FY2022 Annual Results
AI Products Identified (Ring 1)
Ultra-high purity nitrogen for AI chip fab cleanroomsElectronic specialty gases for advanced node deposition/etchOn-site gas generation for leading-edge fabs
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Bulk industrial gasesHealthcare gasesLarge Industries on-site gasIndustrial Merchant gasesEngineering & ConstructionElectronics gases for mature node/non-AI semiconductor
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix