Vertiv Holdings
VRTQ2 2024(VRT Q1 FY2024)Estimated8% AI
AI Revenue %
8%
AI Fair Value
$3.7B
AI Revenue (Q)
$131.1M
Total Revenue (Q)
$1.6B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q1 2024 (calendar) revenue was $1,639.1M. For the first time, the MD&A specifically references 'Colocation and Hyperscale markets' as the primary growth driver: Americas up 7.3% driven by 'higher sales volumes in Colocation and Hyperscale markets'. This shift in language from generic 'higher volumes' to specifically calling out the customer verticals most associated with AI deployments is significant. However, Colocation and Hyperscale also serve non-AI workloads (cloud, enterprise). Estimating that ~8% of total revenue now specifically serves AI workloads through liquid cooling, high-density power for GPU racks, and thermal management for AI clusters. $131.1M AI / $1,639.1M total = ~8.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Net sales 1,639.1
10-Q Income Statement, Q1 2024
The increase in sales was primarily driven by higher sales volumes in Colocation and Hyperscale markets compared to prior year
10-Q MD&A Americas, Q1 2024
Colocation and Enterprise growth throughout the region particularly in India and Asia
10-Q MD&A Asia Pacific, Q1 2024
increased volume in the Colocation and Hyperscale markets
10-Q MD&A EMEA, Q1 2024
AI Products Identified (Ring 1)
Liquid cooling systemsHigh-density power distributionThermal managementModular data center solutions
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 solutionsSwitchgearBusbar systems
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix