Lam Research
LRCXQ2 2024(LRCX Q3 FY2024)Estimated7% AI
AI Revenue %
7%
AI Fair Value
$9.0B
AI Revenue (Q)
$291.8M
Total Revenue (Q)
$4.2B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 FY2024 (Mar 2024 quarter, 14-week quarter): Revenue $3.79B. Memory at 44%, Foundry 44%, Logic 12%. Memory and Foundry now equal, both benefiting from AI-driven investment. HBM production scaling rapidly — SK Hynix was the dominant HBM supplier with Samsung catching up. Equipment orders for HBM capacity expansion accelerating. Foundry AI chip builds also rising (NVIDIA Blackwell at TSMC). Estimated ~25% of Memory equipment revenue is HBM-related, plus ~5% of Foundry for AI chips. 7% AI revenue. $3.79B * 0.07 = ~$266M.
Analyzed by claude-opus-4-6
Quoted Figures
Memory 44%, Foundry 44%, Logic/integrated device manufacturing 12%
10-Q Q3 FY2024, Note 3 Revenue disaggregation
Revenue $3,793,558 thousand
10-Q Q3 FY2024, Condensed Consolidated Statements of Operations
Systems revenue $2,395,817; Customer support-related revenue and other $1,397,741
10-Q Q3 FY2024, Note 3 Revenue disaggregation
AI Products Identified (Ring 1)
Etch systems for HBM3E productionDeposition for advanced packaging/CoWoSEquipment for AI GPU 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.
HBM capacity expansion at SK Hynix/Samsung/MicronTSMC CoWoS capacity buildNVIDIA Blackwell production timeline
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix