Lam Research
LRCXQ2 2023(LRCX Q3 FY2023)Estimated3% AI
AI Revenue %
3%
AI Fair Value
$3.8B
AI Revenue (Q)
$104.5M
Total Revenue (Q)
$3.5B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 FY2023 (Mar 2023 quarter): Revenue $3.87B — significant decline reflecting memory downturn. Memory dropped to 32% of equipment revenue, Foundry surged to 46%, Logic 22%. Memory spending cratered amid inventory corrections. Even within reduced Memory revenue, HBM share was growing but from small base. Foundry AI chip builds beginning to ramp but early. ~3% AI revenue. $3.87B * 0.03 = ~$116M. Restructuring charges noted ($107M). No AI disclosure.
Analyzed by claude-opus-4-6
Quoted Figures
Memory 32%, Foundry 46%, Logic/integrated device manufacturing 22%
10-Q Q3 FY2023, Note 3 Revenue disaggregation
Revenue $3,869,569 thousand
10-Q Q3 FY2023, Condensed Consolidated Statements of Operations
System revenue $2,256,033; Customer support-related revenue and other $1,613,536
10-Q Q3 FY2023, Note 3 Revenue disaggregation
AI Products Identified (Ring 1)
Etch systems for HBM DRAMDeposition for AI chip 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.
Memory downcycle impactHBM vs standard DRAM mixFoundry AI chip production
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix