Lam Research
LRCXQ4 2023(LRCX Q1 FY2024)Estimated5% AI
AI Revenue %
5%
AI Fair Value
$5.7B
AI Revenue (Q)
$189.7M
Total Revenue (Q)
$3.8B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q1 FY2024 (Sep 2023 quarter): Revenue $3.48B. Memory at 38%, Foundry 36%, Logic 26%. Memory spending still depressed from downcycle, but HBM-specific demand was growing within the Memory segment. HBM3 was in production at SK Hynix with Samsung following. Equipment for HBM DRAM fabrication (more etch/deposition layers) was a growing portion. Foundry AI chip production also expanding. Conservative 5% estimate. $3.48B * 0.05 = ~$174M. No direct AI disclosure in filing.
Analyzed by claude-opus-4-6
Quoted Figures
Memory 38%, Foundry 36%, Logic/integrated device manufacturing 26%
10-Q Q1 FY2024, Note 3 Revenue disaggregation
Revenue $3,482,062 thousand
10-Q Q1 FY2024, Condensed Consolidated Statements of Operations
Systems revenue $2,056,655; Customer support-related revenue and other $1,425,407
10-Q Q1 FY2024, Note 3 Revenue disaggregation
AI Products Identified (Ring 1)
Etch systems for HBM3 DRAMDeposition for advanced packagingEquipment for AI chip foundry production
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.
HBM3 production capacity at SK Hynix/SamsungMemory recovery trajectoryTSMC AI chip wafer starts
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix