Lam Research
LRCXQ2 2025(LRCX Q3 FY2025)Estimated13% AI
AI Revenue %
13%
AI Fair Value
$20.1B
AI Revenue (Q)
$1.4B
Total Revenue (Q)
$11.0B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 FY2025 (Mar 2025 quarter): Revenue $4.72B, up 24% YoY. Memory at 43%, Foundry 48%, Logic 9%. Foundry surging to 48% — likely driven by massive TSMC capacity expansion for AI chips (NVIDIA Blackwell/next-gen, custom ASICs). Systems revenue $3.04B. Memory's absolute $ amount still high despite % decline (Foundry growing faster). HBM equipment remains significant within Memory. Foundry AI portion estimated at ~12% of Foundry revenue. Combined: ~35% of Memory equipment for HBM + ~12% of Foundry for AI chips. 13% AI revenue. $4.72B * 0.13 = ~$614M.
Analyzed by claude-opus-4-6
Quoted Figures
Memory 43%, Foundry 48%, Logic/integrated device manufacturing 9%
10-Q Q3 FY2025, Note 3 Revenue disaggregation
Revenue $4,720,175 thousand
10-Q Q3 FY2025, Condensed Consolidated Statements of Operations
Systems revenue $3,035,276; Customer support-related revenue and other $1,684,899
10-Q Q3 FY2025, Note 3 Revenue disaggregation
AI Products Identified (Ring 1)
Etch/deposition for HBM DRAMEquipment for AI chip foundry production at TSMCAdvanced packaging solutions for AI chipsEquipment for AI ASIC 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.
TSMC AI chip capacity expansionHBM demand trajectoryAdvanced packaging buildout
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix