Pure Storage, Inc.
PSTGQ1 2024(PSTG Q4 FY2024)Estimated4% AI
AI Revenue %
4%
AI Fair Value
$360.1M
AI Revenue (Q)
$33.2M
Total Revenue (Q)
$831.1M
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
10-K for FY2024 elevates AI to one of four strategic growth pillars. AI is now explicitly listed as a 'major market trend': 'increasing demand for data storage to support the acceleration in artificial intelligence (AI) adoption while managing rising energy costs.' Growth pillar #4: 'Grow the AI storage opportunity.' NVIDIA BasePod certification, NVIDIA OVX validation. AIRI (AI-Ready Infrastructure) reference architecture with NVIDIA DGX. Full year FY2024 revenue: $2.831B. Still no AI revenue quantification. The elevation of AI to a strategic pillar suggests meaningful but still early traction. Math: FlashBlade ~18-20% of product revenue, AI portion ~35%. Product ~42% of total. 0.42 * 0.19 * 0.35 + small subscription AI component = ~4%.
Analyzed by claude-opus-4-6
Quoted Figures
increasing demand for data storage to support the acceleration in artificial intelligence (AI) adoption while managing rising energy costs
10-K, FY2024, Item 1 Business Overview
United States $1,979,325; Rest of the world $851,296; Total revenue $2,830,621
10-K, FY2024, Note 15 Segment Information
AI Products Identified (Ring 1)
FlashBlade (AI training data pipelines)AIRI (AI-Ready Infrastructure with NVIDIA DGX)
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)Portworx (container data services)
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix