Dell Technologies
DELLQ3 2024(DELL Q2 FY2025)Estimated13% AI
AI Revenue %
13%
AI Fair Value
$7.3B
AI Revenue (Q)
$3.0B
Total Revenue (Q)
$23.4B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q2 FY2025 (ended August 2, 2024). Total revenue $25,026M. The segment note in this filing is truncated and does not contain ISG sub-segment data. Product revenue surged to $18,954M (up from $16,935M YoY), driven heavily by AI server shipments. Dell publicly stated AI server revenue was approximately $3.2B in this quarter on the earnings call. However, the SEC filing does not disclose this. $3,200M / $25,026M = 12.8%, rounded to 13.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Total net revenue 25,026
10-Q Q2 FY2025, Condensed Consolidated Statements of Income
Products $ 18,954
10-Q Q2 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