Vertiv Holdings
VRTQ3 2025(VRT Q2 FY2025)Estimated18% AI
AI Revenue %
18%
AI Fair Value
$10.5B
AI Revenue (Q)
$646.5M
Total Revenue (Q)
$3.6B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q2 2025 (calendar) revenue was $2,638.1M (up 35.1% YoY from $1,952.8M). Products revenue surged to $2,118.9M (up 39.7% from $1,517.3M). Services grew to $519.2M (up 19.2%). This 35% revenue growth rate on an already large base ($7.9B annualized) is exceptional and indicative of massive AI data center investment. Americas reached $1,602.3M (up 42.9% from $1,121.1M), a truly extraordinary growth rate for a company of this size. The disproportionate growth in products vs services confirms hardware-driven demand (AI infrastructure buildout). Margins strong: operating profit $442.4M on $2,638.1M (16.8% op margin). Estimating 18% as AI-specific demand accelerates through power, cooling, and rack infrastructure for GPU clusters. $474.9M AI / $2,638.1M total = ~18.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Net sales 2,638.1
10-Q Income Statement, Q2 2025
Products $1,320.8 (Americas) + $424.0 (APAC) + $374.1 (EMEA) = $2,118.9
10-Q Revenue Disaggregation, Q2 2025
Services & spares $281.5 (Americas) + $136.2 (APAC) + $101.5 (EMEA) = $519.2
10-Q Revenue Disaggregation, Q2 2025
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