Dell Technologies
DELLQ2 2024(DELL Q1 FY2025)Estimated8% AI
AI Revenue %
8%
AI Fair Value
$4.4B
AI Revenue (Q)
$1.9B
Total Revenue (Q)
$23.9B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q1 FY2025 (ended May 3, 2024). Total revenue $22,244M. ISG revenue was $9,227M with servers and networking at $5,466M and storage at $3,761M. Server & networking revenue grew 42% YoY (from $3,837M) driven primarily by AI-optimized server demand. The filing does not disclose AI server revenue as a separate line item, but the segment note describes 'AI-optimized servers' as part of the server portfolio. Dell publicly stated AI server revenue was approximately $1.7B in this quarter. $1,700M / $22,244M = 7.6%, rounded to 8.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Servers and networking $ 5,466 $ 3,837 Storage 3,761 3,756 Total ISG net revenue $ 9,227 $ 7,593
10-Q Q1 FY2025, Note 16 Segment Information, ISG Disaggregation
The Company s server portfolio includes high-performance general-purpose and AI-optimized servers.
10-Q Q1 FY2025, Note 16 Segment Information
Total net revenue 22,244
10-Q Q1 FY2025, Condensed Consolidated Statements of Income
AI Products Identified (Ring 1)
PowerEdge XE9680PowerEdge XE8640PowerEdge R760xa
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.
ISG servers and networkingISG storage
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix