MP Materials
MPQ3 2022(MP Q2 FY2022)Estimated2% AI
AI Revenue %
2%
AI Fair Value
$71.2M
AI Revenue (Q)
$2.9M
Total Revenue (Q)
$143.6M
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Same dynamics as Q1 FY2022. MP sold only rare earth concentrate to a single customer (Shenghe) for redistribution to China. No separated products yet. No end-market or AI-specific disclosure. The AI share of rare earth demand remained negligible in mid-2022. Estimated ~2% based on industry-level analysis of NdPr downstream demand flowing to AI-adjacent applications.
Analyzed by claude-opus-4-6
Quoted Figures
No quarterly revenue breakout available in Q2 2022 10-Q filing (filing text truncated). Annual revenue per 10-K was $527.5M for FY2022.
10-Q Q2 FY2022 / 10-K FY2022
AI Products Identified (Ring 1)
Neodymium-praseodymium oxide (indirect, via concentrate sold to Shenghe)
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.
NdPr permanent magnets for data center cooling fansRare earths for robotics servomotors
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix