Hp Inc
HPQQ1 2024Estimated0.5% AI
AI Revenue %
0.5%
AI Fair Value
$61.3M
AI Revenue (Q)
$65.9M
Total Revenue (Q)
$13.2B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
HP's Q1 FY2024 (three months ended Jan 31, 2024) shows total revenue of $13,185M. Intel Meteor Lake with NPU launched Dec 2023, so HP began shipping first AI PCs in this quarter. However, AI PC penetration was extremely low in the first months (industry estimates ~5% of total PC shipments). HP does not disclose any AI-specific revenue. The filing mentions 'artificial intelligence' only in risk factors. Conservative estimate: ~5% of Personal Systems units were AI PCs with ~$75 ASP premium on ~$900 average ASP. Personal Systems ~$9.4B this quarter. AI premium: 5% * ($75/$900) * $9.4B = ~$39M, or ~0.3% of total revenue. Rounding up slightly for AI security software (Wolf Security deep-learning features) to 0.5%.
Analyzed by claude-opus-4-6
Quoted Figures
Net revenue $13,185 [three months ended January 31, 2024]
10-Q Q1 FY2024, Consolidated Condensed Statements of Earnings
AI Products Identified (Ring 1)
HP AI PCs (early NPU-equipped notebooks/desktops)HP Wolf Security (AI deep-learning malware detection)
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.
Poly video conferencing (basic AI noise cancellation)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix