Applied Materials
AMATQ3 2025Estimated16% AI
AI Revenue %
16%
AI Fair Value
$24.8B
AI Revenue (Q)
$3.2B
Total Revenue (Q)
$20.1B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Semiconductor Systems = $5,427M of $7,302M total. DRAM = 22%, foundry/logic = 69%, NAND = 9%. Two customers accounted for ~19% and ~15% of nine-month revenue (TSMC and Samsung). Taiwan revenue surged to $1,843M (up 61% YoY). DRAM share eased to 22% but foundry/logic strengthened to 69% with leading-edge driving growth. NAND increased to 9% (some for AI storage but conservatively excluded). Math: HBM ~$360M + advanced packaging ~$200M + leading-edge AI logic ~$608M = ~$1,168M of $7,302M = ~16%. $7,302M x 16% = ~$1,168M estimated AI revenue.
Analyzed by claude-opus-4-6
Quoted Figures
Semiconductor Systems $5,427M; Foundry, logic and other 69%, DRAM 22%, Flash memory (NAND) 9%
Segment Data, 10-Q ended Jul 27, 2025
Two customers accounted for approximately 19% and 15%, respectively, of our net revenue for the nine months ended July 27, 2025.
Segment Data, 10-Q ended Jul 27, 2025
Net revenue $7,302M; Semiconductor Systems $5,427M (74%), AGS $1,600M (22%), Display $263M (4%)
Results of Operations, 10-Q ended Jul 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