Pure Storage, Inc.
PSTGQ3 2023(PSTG Q2 FY2024)Estimated3% AI
AI Revenue %
3%
AI Fair Value
$259.8M
AI Revenue (Q)
$20.8M
Total Revenue (Q)
$693.5M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Same AI positioning as Q1 FY2024 with explicit mention of 'artificial intelligence (AI)' in the overview. Forward-looking statements now reference 'our ability to continue capturing storage workloads for AI environments.' FlashBlade//E launched and next-gen FlashArray introduced. AI storage demand growing but still a small fraction of total. Product revenue of $400M and subscription services of $289M. No AI revenue quantification. Slightly higher estimate than Q1 reflecting growing AI customer conversations. Math: FlashBlade ~15-18% of product revenue, AI portion ~30%. Product ~58% of total. 0.58 * 0.17 * 0.30 = ~3%.
Analyzed by claude-opus-4-6
Quoted Figures
Our products and subscription services support a wide range of structured and unstructured data...backup and recovery, and artificial intelligence (AI) and machine learning.
10-Q, Q2 FY2024, Item 2 MD&A Overview
Product $399,738; Subscription services $288,933; Total revenue $688,671
10-Q, Q2 FY2024, Condensed Consolidated Statements of Operations
AI Products Identified (Ring 1)
FlashBlade (AI training data pipelines)
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.
FlashArray (general enterprise storage)FlashBlade//E (secondary storage)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix