Vertiv Holdings
VRTQ4 2023(VRT Q3 FY2023)Estimated5% AI
AI Revenue %
5%
AI Fair Value
$2.1B
AI Revenue (Q)
$87.1M
Total Revenue (Q)
$1.7B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 2023 (calendar) revenue was $1,742.6M. Americas up 40.8% YoY. Again 'strong growth in Thermal' cited as primary driver with $253.5M increase in critical infrastructure & solutions. The AI training cluster buildout was in full swing by Q3 2023, with major hyperscalers deploying NVIDIA GPU clusters requiring specialized cooling and power infrastructure. Vertiv's thermal management products (including emerging liquid cooling solutions) increasingly serve these workloads. Increasing to 5%. $87.1M AI / $1,742.6M total = ~5.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Net sales 1,742.6
10-Q Income Statement, Q3 2023
Americas net sales of $1,003.2 in the third quarter of 2023 increased $290.6, or 40.8%, from the third quarter of 2022
10-Q MD&A Americas, Q3 2023
net sales increased in critical infrastructure & solutions by $253.5 driven primarily by strong growth in Thermal
10-Q MD&A Americas, Q3 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