BlackRock, Inc.
BLKQ4 2025(BLK Q3 FY2025)Estimated1.2% AI
AI Revenue %
1.2%
AI Fair Value
$829.4M
AI Revenue (Q)
$176.8M
Total Revenue (Q)
$14.7B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Technology services and subscription revenue of $515M on total revenue of $6,509M (7.9% of revenue). Total revenue surged due to HPS acquisition closing July 1, 2025 (adding significant advisory fee revenue), which dilutes the tech services share. Tech services grew 27.8% YoY ($515M vs $403M). The Q3 filing notes risk factor (11): 'the failure to effectively manage the development and use of artificial intelligence' — confirming AI is operationally relevant but not a disclosed revenue driver. Estimating ~15% AI/ML attribution on tech services: $515M × 15% = ~$77M. AI % of total revenue: $77M / $6,509M = 1.2%. The lower percentage vs Q2 reflects the HPS acquisition increasing total revenue denominator substantially.
Analyzed by claude-opus-4-6
Quoted Figures
Technology services and subscription revenue: $515 [million] (Q3 2025)
10-Q for period ending September 30, 2025, Condensed Consolidated Statements of Income
Total revenue: $6,509 [million] (Q3 2025)
10-Q for period ending September 30, 2025, Condensed Consolidated Statements of Income
the failure to effectively manage the development and use of artificial intelligence [risk factor 11]
10-Q for period ending September 30, 2025, Item 2 MD&A, Forward-Looking Statements
AI Products Identified (Ring 1)
Aladdin (ML-enhanced risk analytics and factor models)Aladdin Wealth (AI-assisted wealth management analytics)eFront (ML-driven private markets analytics)Preqin (data analytics with ML components)Systematic/quant investing strategies using ML
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.
Aladdin portfolio management and reporting (non-AI core)Preqin private markets data (non-AI core)Cachematrix cash management platformHPS credit investment management feesGIP infrastructure advisory feesiShares ETF platform operationsTraditional investment advisory fees
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix