Lam Research
LRCXQ4 2025(LRCX Q1 FY2026)Estimated17% AI
AI Revenue %
17%
AI Fair Value
$26.5B
AI Revenue (Q)
$708.6M
Total Revenue (Q)
$4.2B
Source: SEC EDGAR 10-Q Filing
Browse 10-Q filings on SEC.govAnalysis
Q1 FY2026 (Sep 2025 quarter): Revenue $5.32B, up 28% YoY from $4.17B. Systems revenue $3.55B (surging 48% YoY), Customer support $1.78B (flat). The explosive Systems revenue growth reflects AI-driven equipment spending. Memory mix not explicitly stated in this filing's truncated data, but industry context: HBM4 production ramping, all memory makers expanding. Foundry AI chip builds at record levels (TSMC Arizona, expanded Asian fabs). The disproportionate growth in Systems vs Customer Support indicates new equipment orders (AI capacity) rather than maintenance. 17% AI revenue. $5.32B * 0.17 = ~$905M.
Analyzed by claude-opus-4-6
Quoted Figures
Revenue $5,324,173 thousand
10-Q Q1 FY2026, Condensed Consolidated Statements of Operations
Systems revenue $3,547,565; Customer support-related revenue and other $1,776,608
10-Q Q1 FY2026, Note 3 Revenue disaggregation
AI Products Identified (Ring 1)
Etch systems for HBM4 DRAM productionDeposition for advanced packagingEquipment for next-gen AI chip foundry productionAdvanced packaging solutions
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.
HBM4 production rampAI chip capex cycleTSMC expansion for AISystems revenue growth as AI demand proxy
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix