Air Liquide (ADR)
AIQUFQ1 2023(AIQUF Q4 FY2022)Estimated0.5% AI
AI Revenue %
0.5%
AI Fair Value
$207.4M
AI Revenue (Q)
$37.5M
Total Revenue (Q)
$7.5B
Source: SEC EDGAR SEC Filing Filing
Browse SEC Filing filings on SEC.govAnalysis
Q4 2022 / FY2022 full year. Air Liquide reported FY2022 total revenue of €29.9B (up 28%, heavily influenced by energy pass-through). Electronics business line revenue ~€2.7B for the full year (~9% of total). The €29.9B figure is inflated by energy cost pass-through in Large Industries; comparable revenue growth was ~7%. Electronics grew ~13% on strong semiconductor capex. AI chip demand (ChatGPT launched Nov 2022 but with zero near-term impact on gas demand) remained small. Full year: €29.9B × 0.5% = ~€150M, or ~€37M per quarter. Q4 estimate: ~€7.5B × 0.5% = ~€37M.
Analyzed by claude-opus-4-6
Quoted Figures
FY2022 group revenue €29,934 million, comparable growth +7.0%. Electronics business line revenue approximately €2.7 billion
Air Liquide FY2022 Universal Registration Document / Annual Results
Electronics saw strong momentum throughout 2022, driven by significant investments in semiconductor manufacturing capacity, particularly in Asia and the United States
Air Liquide FY2022 Annual Results
AI Products Identified (Ring 1)
Ultra-high purity nitrogen for AI chip fabsElectronic specialty gases for advanced node EUV/depositionOn-site gas generation for TSMC/Samsung/Intel fabsBulk gases for fab operations
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.
Large Industries on-site gas (refining, chemicals, metals)Industrial Merchant gasesHealthcare gases and servicesEngineering & ConstructionElectronics gases for non-AI semiconductor production (memory, automotive, IoT, consumer)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix