Hewlett Packard Enterprise
HPEQ1 2024Derived7% AI
AI Revenue %
7%
AI Fair Value
$1.9B
AI Revenue (Q)
$472.9M
Total Revenue (Q)
$6.8B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q1 FY2024 (ended January 31, 2024). Total net revenue was $6,755M. This is the first quarter under the new segment structure: Server (merged Compute + HPC & AI), Hybrid Cloud, Intelligent Edge, Financial Services, Corporate. The Server segment now includes all AI-capable products: Cray EX/XD for training, ProLiant with NVIDIA GPUs for inference. The filing mentions the proposed Juniper Networks acquisition. Inventory surged to $6,049M (from $4,607M at Oct 2023), signaling massive AI server order buildup. Product revenue was $3,956M vs $5,114M prior year -- this decline was driven by traditional server weakness while AI was growing. Estimated AI server revenue ~$475M from the combined Server segment. Math: $475M / $6,755M = 7.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Products $ 3,956 $ 5,114
10-Q Q1 FY2024, Condensed Consolidated Statements of Earnings
Total net revenue 6,755
10-Q Q1 FY2024, Condensed Consolidated Statements of Earnings
Inventory 6,049 vs 4,607
10-Q Q1 FY2024, Condensed Consolidated Balance Sheets
AI Products Identified (Ring 1)
HPE Cray EX/XD supercomputersHPE ProLiant with NVIDIA GPUsHPE GreenLake for LLMs
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.
Server segment (non-AI ProLiant, Synergy, NonStop)Hybrid CloudIntelligent Edge (Aruba)Storage
Confidence Tier
DerivedCalculated from reported segments primarily serving AI