Vertiv Holdings
VRTQ2 2023(VRT Q1 FY2023)Estimated3% AI
AI Revenue %
3%
AI Fair Value
$1.2B
AI Revenue (Q)
$45.6M
Total Revenue (Q)
$1.5B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q1 2023 (calendar) revenue was $1,521.1M. Americas up 61.1% YoY with 'strong growth in Thermal' specifically called out. ChatGPT launched in late 2022, and hyperscaler AI spending began accelerating in early 2023. However, Vertiv still reports no AI-specific metrics. The thermal growth is partially attributable to general data center expansion and pricing actions. Beginning to see initial AI-driven demand for high-density cooling. Increasing estimate to 3%. $45.6M AI / $1,521.1M total = ~3.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Net sales 1,521.1
10-Q Income Statement, Q1 2023
Americas net sales of $862.3 in the first three months of 2023 increased $327.2, or 61.1% from the first three months of 2022
10-Q MD&A Americas, Q1 2023
The increase in sales was primarily driven by higher sales volumes and price realization compared to prior year
10-Q MD&A, Q1 2023
AI Products Identified (Ring 1)
High-density power distributionThermal management systemsLiquid cooling
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.
Data center coolingUPS systemsIntegrated rack solutions
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix