MP Materials
MPQ3 2024(MP Q2 FY2024)Estimated3% AI
AI Revenue %
3%
AI Fair Value
$89.2M
AI Revenue (Q)
$937,740
Total Revenue (Q)
$31.3M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q2 FY2024 revenue was $31.3M (concentrate $24.4M, NdPr oxide/metal $6.5M, other $0.3M). Revenue declined on lower rare earth prices and volumes. NdPr oxide/metal was $6.5M (21% of revenue). GM's $50M prepayment for magnetic precursor materials sits as deferred revenue. No AI-specific disclosure. The company's end markets remain broad (EVs, wind, defense, consumer electronics) with AI-adjacent demand (data center cooling, robotics) still a small fraction. Maintaining 3%.
Analyzed by claude-opus-4-6
Quoted Figures
Rare earth concentrate $24,426 thousand; NdPr oxide and metal $6,531 thousand; Other rare earth products $301 thousand; Total revenue $31,258 thousand
10-Q Q2 FY2024, Note 14 Revenue Recognition
AI Products Identified (Ring 1)
NdPr oxide and metalRare earth concentrate (indirect)
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 coolingRare earths for AI robotics servomotors
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix