Applied Materials
AMATQ2 2024Estimated10% AI
AI Revenue %
10%
AI Fair Value
$12.0B
AI Revenue (Q)
$664.6M
Total Revenue (Q)
$6.6B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Semiconductor Systems = $4,901M of $6,646M total. DRAM = 32% of Sem Systems = ~$1,568M. Same pattern as Q1: leading-edge logic spending DOWN, memory spending UP on technology transitions (HBM). Foundry/logic = 65%. Samsung at 13% of revenue (significant DRAM/HBM customer). Conservative AI estimate remains 10%: HBM equipment ~$500M + AI-related leading-edge logic ~$165M = ~$665M of $6,646M. Math: $6,646M x 10% = ~$665M estimated AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Foundry and logic customers spending decreased in the three and six months ended April 28, 2024 compared to the same periods in the prior year driven primarily by lower customer investments in leading-edge manufacturing technologies, partially offset by increased customer investments in mature manufacturing technologies.
MD&A, 10-Q ended Apr 28, 2024
Memory customers spending in the three and six months ended April 28, 2024 was higher as compared to the same periods in the prior year due to increased investments in technology transitions.
MD&A, 10-Q ended Apr 28, 2024
Semiconductor Systems $4,901M; Foundry, logic and other 65%, DRAM 32%, Flash memory 3%
Segment Data, 10-Q ended Apr 28, 2024
AI Products Identified (Ring 1)
HBM manufacturing equipmentLeading-edge depositionAdvanced packaging equipmentEtch systems for AI chips
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
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix