Applied Materials
AMATQ4 2024Estimated13% AI
AI Revenue %
13%
AI Fair Value
$18.6B
AI Revenue (Q)
$915.9M
Total Revenue (Q)
$7.0B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
10-K annual filing. Full year: Semiconductor Systems = $19,911M, total = $27,176M. DRAM = 28% of Sem Systems (up from 17% in FY2023). Foundry/logic = 68%, Flash = 4%. Products explicitly described as serving 'servers for artificial intelligence (AI) and data centers.' DRAM shift from 17% to 28% = $5,575M DRAM revenue (up from ~$3,349M). Much of this incremental DRAM spend was HBM-driven. Samsung = 12%, TSMC = 11% of revenue. Implied Q4 revenue = $27,176M - $20,131M = $7,045M. Estimated AI portion increasing as HBM and leading-edge AI logic spending accelerate. Math: $7,045M x 13% = ~$916M estimated AI revenue for Q4.
Analyzed by claude-opus-4-6
Quoted Figures
Spending by semiconductor customers...is driven by demand for products such as smartphones, mobile devices, personal computers, servers for artificial intelligence (AI) and data centers, automobiles, clean energy, storage, and other products.
MD&A Overview, 10-K ended Oct 27, 2024
Semiconductor Systems net revenue $19,911M [FY2024]; Foundry, logic and other 68%, DRAM 28%, Flash memory 4%
Segment Note, 10-K ended Oct 27, 2024
Samsung Electronics Co., Ltd. 12%; Taiwan Semiconductor Manufacturing Company Limited 11%
Segment Note, 10-K ended Oct 27, 2024
AI Products Identified (Ring 1)
HBM manufacturing equipmentAdvanced packaging equipmentLeading-edge deposition for AI chipsEtch and metrology 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