Applied Materials
AMATQ3 2024Estimated12% AI
AI Revenue %
12%
AI Fair Value
$16.0B
AI Revenue (Q)
$2.4B
Total Revenue (Q)
$19.8B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Semiconductor Systems = $4,924M of $6,778M total. DRAM = 24% of Sem Systems = ~$1,182M, foundry/logic = 72% = ~$3,545M. First explicit mention of HBM and advanced packaging as current demand drivers: 'Investments by semiconductor equipment customers are expected to remain strong with growth in the adoption of high-bandwidth memory and other forms of advanced packaging, continued demand for AI and data center computing.' This confirms HBM and advanced packaging are meaningful revenue drivers. Samsung = 12% of nine-month revenue. Leading-edge foundry spending started recovering. Increased to 12%: HBM ~$400M + advanced packaging ~$150M + leading-edge AI logic ~$263M = ~$813M of $6,778M. Math: $6,778M x 12% = ~$813M estimated AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Investments by semiconductor equipment customers are expected to remain strong with growth in the adoption of high-bandwidth memory and other forms of advanced packaging, continued demand for AI and data center computing, and for mature nodes.
MD&A, 10-Q ended Jul 28, 2024
Memory customers spending in the three and nine months ended July 28, 2024 was higher as compared to the same periods in the prior year due to increased investments in DRAM technology transitions.
MD&A, 10-Q ended Jul 28, 2024
Semiconductor Systems $4,924M; Foundry, logic and other 72%, DRAM 24%, Flash memory 4%
Segment Data, 10-Q ended Jul 28, 2024
AI Products Identified (Ring 1)
HBM manufacturing equipmentAdvanced packaging (CoWoS-type)Leading-edge deposition for AI chipsEtch and CMP for AI accelerators
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