Hewlett Packard Enterprise
HPEQ3 2024Derived13% AI
AI Revenue %
13%
AI Fair Value
$3.6B
AI Revenue (Q)
$1.0B
Total Revenue (Q)
$7.7B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 FY2024 (ended July 31, 2024). Total net revenue was $7,710M, up 10.1% year-over-year. Product revenue jumped to $4,854M from $4,231M (+14.7% YoY), driven primarily by AI server demand. Inventory reached $7,679M. This quarter saw significant AI server revenue growth. The Server segment was the primary growth driver with AI workload servers (Cray XD, ProLiant with NVIDIA H100/H200 GPUs). HPE also began offering Private Cloud AI. Conservative estimate: AI servers constituted approximately $1,000M of revenue this quarter. Math: $1,000M / $7,710M = 13.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Products $ 4,854 $ 4,231
10-Q Q3 FY2024, Condensed Consolidated Statements of Earnings
Total net revenue 7,710
10-Q Q3 FY2024, Condensed Consolidated Statements of Earnings
Inventory 7,679 vs 4,607
10-Q Q3 FY2024, Condensed Consolidated Balance Sheets
AI Products Identified (Ring 1)
HPE Cray EX/XDHPE ProLiant with NVIDIA GPUsHPE Private Cloud AIHPE 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 servers, HPC, NonStop)Hybrid CloudIntelligent Edge (Aruba)Financial Services
Confidence Tier
DerivedCalculated from reported segments primarily serving AI