Applied Materials
AMATQ2 2025Estimated16% AI
AI Revenue %
16%
AI Fair Value
$24.8B
AI Revenue (Q)
$2.1B
Total Revenue (Q)
$13.4B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Semiconductor Systems = $5,255M of $7,100M total. DRAM = 27%, foundry/logic = 65%, NAND = 8%. TSMC = 18%, Samsung = 17% of H1 revenue -- 35% of revenue going to two major AI chip producers. Taiwan surged to $1,997M (up 96% YoY from $1,019M), reflecting massive TSMC leading-edge build for AI. Korea also strong at $1,562M (up 58% YoY). Tariff uncertainty noted but revenue growing. Math: HBM ~$430M + advanced packaging ~$200M + leading-edge AI logic ~$505M = ~$1,136M of $7,100M = ~16%. $7,100M x 16% = ~$1,136M estimated AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Semiconductor Systems $5,255M; Foundry, logic and other 65%, DRAM 27%, Flash memory (NAND) 8%
Segment Data, 10-Q ended Apr 27, 2025
Taiwan Semiconductor Manufacturing Company Limited 18%; Samsung Electronics Co., Ltd. 17%
Segment Data, 10-Q ended Apr 27, 2025
Net revenue by segment: Semiconductor Systems $5,255M (74%), AGS $1,566M (22%), Display $259M (4%)
Results of Operations, 10-Q ended Apr 27, 2025
AI Products Identified (Ring 1)
HBM manufacturing equipmentAdvanced packaging (CoWoS)Leading-edge deposition for AI chipsEtch and metrology for AI acceleratorsAdvanced wafer packaging
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)NAND memory equipmentNon-HBM DRAM equipmentDisplay equipmentApplied Global Services (non-AI portion)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix