Lam Research
LRCXQ1 2025(LRCX Q2 FY2025)Estimated12% AI
AI Revenue %
12%
AI Fair Value
$17.7B
AI Revenue (Q)
$868.8M
Total Revenue (Q)
$7.2B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q2 FY2025 (Dec 2024 quarter): Revenue $4.38B. Memory at 50%, Foundry 35%, Logic 15%. Memory share surging to 50% — highest since Q1 FY2023 — driven substantially by HBM capacity buildout. HBM equipment orders from SK Hynix, Samsung, and Micron were at peak levels. Systems revenue $2.63B. HBM estimated at ~35-40% of Memory equipment revenue. Additionally, foundry AI chip builds and advanced packaging. 12% AI revenue. $4.38B * 0.12 = ~$525M.
Analyzed by claude-opus-4-6
Quoted Figures
Memory 50%, Foundry 35%, Logic/integrated device manufacturing 15%
10-Q Q2 FY2025, Note 3 Revenue disaggregation
Revenue $4,376,047 thousand
10-Q Q2 FY2025, Condensed Consolidated Statements of Operations
Systems revenue $2,625,649; Customer support-related revenue and other $1,750,398
10-Q Q2 FY2025, Note 3 Revenue disaggregation
AI Products Identified (Ring 1)
Etch systems for HBM3E/HBM4 DRAM productionDeposition for advanced packagingEquipment for AI GPU/ASIC foundry builds
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.
HBM capacity at peak buildoutMemory capex recovery driven by AITSMC AI-related advanced node spending
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix