Dell Technologies
DELLQ1 2025(DELL Q4 FY2025)Estimated16% AI
AI Revenue %
16%
AI Fair Value
$11.2B
AI Revenue (Q)
$4.3B
Total Revenue (Q)
$27.0B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Q4 FY2025 / full year FY2025 (ended January 31, 2025). Full year revenue $95,567M, with ISG at $43,593M (up 29% from $33,885M). The 10-K describes 'AI-optimized servers are designed to run high-value workloads, including AI model training, fine-tuning, and inferencing.' No AI server revenue line item in financial statements. Implied Q4 revenue = $95,567M - $22,244M - $25,026M - $24,366M = $23,931M. Dell's full year AI server revenue was approximately $12.9B per public disclosures, implying Q4 was approximately $12.9B - $1.7B - $3.2B - $3.6B = $4.4B. $4,400M / $23,931M = 18.4%. Being conservative since the 10-K itself does not disclose this: estimate 16.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Infrastructure Solutions Group $ 43,593 $ 33,885
10-K FY2025, Segment Revenue Reconciliation
Our AI-optimized servers are designed to run high-value workloads, including AI model training, fine-tuning, and inferencing.
10-K FY2025, Item 1 Business, ISG Description
The Company s server portfolio includes high-performance general-purpose and AI-optimized servers.
10-K FY2025, Note 18 Segment Information
AI Products Identified (Ring 1)
PowerEdge XE9680PowerEdge XE8640PowerEdge R760xaPowerEdge XE9680L
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