Eaton Corporation
ETNQ3 2024(ETN Q2 FY2024)Estimated4% AI
AI Revenue %
4%
AI Fair Value
$3.0B
AI Revenue (Q)
$254.0M
Total Revenue (Q)
$6.3B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Electrical Americas ($2,877M) and Electrical Global ($1,606M) totaled $4,483M of $6,350M total revenue (70.6%). Systems revenue in Electrical Americas was $2,132M, up 20% YoY. Eaton acquired NordicEPOD AS (49% stake, data center power modules) in May 2024, signaling strategic data center focus. Estimate: ~18% of Electrical to data centers = ~$807M; ~30% AI-attributable = ~$242M. AI capex from hyperscalers (MSFT, GOOGL, AMZN, META) surging in 2024, driving power infrastructure demand.
Analyzed by claude-opus-4-6
Quoted Figures
Electrical Americas: Products $745M, Systems $2,132M, Total $2,877M
10-Q Note 3, Q2 2024
Electrical Global: Products $882M, Systems $724M, Total $1,606M
10-Q Note 3, Q2 2024
NordicEPOD AS (May 31, 2024): 49% stake, designs and assembles standardized power modules for data centers in the Nordic region
10-Q Note 2, Q2 2024
Exertherm (May 20, 2024): U.K.-based provider of thermal monitoring solutions for electrical equipment
10-Q Note 2, Q2 2024
AI Products Identified (Ring 1)
UPS systems for data centersrack power distribution unitsswitchgearbusway systemsthree-phase power qualitypower distribution assembliesdata center power modules (NordicEPOD)
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.
commercial building electricalindustrial power distributionutility equipmentresidential electrical productsthermal monitoring (Exertherm)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix