Lam Research
LRCXQ3 2024(LRCX Q4 FY2024)Estimated8% AI
AI Revenue %
8%
AI Fair Value
$11.1B
AI Revenue (Q)
$350.1M
Total Revenue (Q)
$4.4B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Q4 FY2024 (Jun 2024, annual 10-K): Full year FY2024 revenue $14.91B. Annual Memory at 42%, Foundry 40%, Logic 18%. FY2024 10-K mentions AI alongside cloud computing as demand drivers. Lam discusses advanced packaging in context of chiplet/WLP solutions. HBM equipment demand was a significant driver in H2 FY2024. All three major DRAM makers (SK Hynix, Samsung, Micron) were investing in HBM capacity. HBM share of DRAM wafer starts was growing but still ~10-15% of total DRAM production. Conservatively, ~25-30% of Memory equipment for HBM, ~5% of Foundry for AI. Full year AI: ~$14.91B * 0.08 = ~$1.19B.
Analyzed by claude-opus-4-6
Quoted Figures
Memory 42%, Foundry 40%, Logic/integrated device manufacturing 18%
10-K FY2024, Note 4 Revenue disaggregation
Systems Revenue $8,921,643; Customer support-related revenue and other $5,983,743; Total $14,905,386
10-K FY2024, Note 4 Revenue
Demand from cloud computing (the Cloud), artificial intelligence, 5G, the Internet of Things (IoT), and other markets is driving the need for increasingly powerful and cost-efficient semiconductors
10-K FY2024, Item 1 Business
We offer advanced packaging solutions that support fan-out panel-level packaging
10-K FY2024, Item 1 Business
AI Products Identified (Ring 1)
Etch systems for HBM DRAM productionDeposition for advanced packaging (CoWoS, HBM stacking)Advanced packaging/WLP solutionsEquipment for AI chip 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 investments by all 3 major DRAM makersAdvanced packaging capex at TSMCAI chip production volumes
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix