Applied Materials
AMATQ1 2025Estimated15% AI
AI Revenue %
15%
AI Fair Value
$22.7B
AI Revenue (Q)
$1.0B
Total Revenue (Q)
$6.7B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Semiconductor Systems = $5,356M of $7,166M total. DRAM = 28%, foundry/logic = 68%, Flash = 4%. Key shift: 'Foundry and logic customers spending increased...driven primarily by higher customer investments in leading-edge manufacturing technologies.' Leading-edge is now GROWING (vs declining in FY2024), driven by AI chip demand at TSMC and others. TSMC = 15%, Samsung = 17% of revenue. Both are major AI chip producers. DRAM still elevated at 28% (HBM). Taiwan revenue surged to $1,183M (from $559M YoY, up 112%). Math: HBM ~$450M + advanced packaging ~$200M + leading-edge AI logic ~$425M = ~$1,075M of $7,166M = ~15%. $7,166M x 15% = ~$1,075M estimated AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Foundry and logic customers spending increased for the three months ended January 26, 2025, compared to the same period in the prior year driven primarily by higher customer investments in leading-edge manufacturing technologies.
MD&A, 10-Q ended Jan 26, 2025
Semiconductor Systems $5,356M; Foundry, logic and other 68%, DRAM 28%, Flash memory 4%
Segment Data, 10-Q ended Jan 26, 2025
Taiwan Semiconductor Manufacturing Company Limited 15%; Samsung Electronics Co., Ltd. 17%
Segment Data, 10-Q ended Jan 26, 2025
AI Products Identified (Ring 1)
HBM manufacturing equipmentAdvanced packaging (CoWoS)Leading-edge deposition for AI chipsEtch and metrology for AI acceleratorsIon implantation for leading-edge nodes
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.
Mature node foundry equipment (ICAPS)Flash memory equipmentNon-HBM DRAM equipmentDisplay equipmentApplied Global Services (non-AI portion)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix