Vertiv Holdings
VRTQ3 2023(VRT Q2 FY2023)Estimated4% AI
AI Revenue %
4%
AI Fair Value
$1.6B
AI Revenue (Q)
$69.4M
Total Revenue (Q)
$1.7B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q2 2023 (calendar) revenue was $1,734.1M. Americas up 48.2% YoY. MD&A explicitly highlights 'strong growth in Thermal' as the primary driver of critical infrastructure & solutions growth ($267.1M increase in Americas alone). AI data center buildout was accelerating mid-2023 with NVIDIA H100 deployments driving demand for liquid cooling and high-density power. However, no AI-specific revenue is disclosed, and Thermal serves both AI and non-AI data centers. Increasing to 4% to reflect growing AI-specific demand within the thermal/power mix. $69.4M AI / $1,734.1M total = ~4.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Net sales 1,734.1
10-Q Income Statement, Q2 2023
Americas net sales of $959.4 in the second quarter of 2023 increased $312.2, or 48.2%, from the second quarter of 2022
10-Q MD&A Americas, Q2 2023
net sales increased in critical infrastructure & solutions by $267.1 driven primarily by strong growth in Thermal
10-Q MD&A Americas, Q2 2023
AI Products Identified (Ring 1)
Liquid cooling systemsHigh-density power distributionThermal management
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