Vertiv Holdings
VRTQ4 2024(VRT Q3 FY2024)Estimated12% AI
AI Revenue %
12%
AI Fair Value
$6.3B
AI Revenue (Q)
$599.7M
Total Revenue (Q)
$5.0B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 2024 (calendar) revenue was $2,073.5M (up 19.0% YoY). Growth accelerating across all segments. Americas up 19.5% with products increasing $160.0M. EMEA up 26.1%. Asia Pacific up 11.3% driven by 'growth particularly in Greater China and Asia'. The 19% revenue growth rate significantly outpaces general data center market growth, indicating AI-specific demand is a material contributor. Margin expansion continues (Americas 25.3%, EMEA 25.9%), consistent with higher-value AI infrastructure products. However, Vertiv still provides no AI-specific breakout. Estimating 12% as AI GPU cluster deployments and associated cooling/power infrastructure continue ramping. $248.8M AI / $2,073.5M total = ~12.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Net sales 2,073.5
10-Q Income Statement, Q3 2024
Americas net sales were $1,198.6 in the third quarter of 2024, an increase of $195.4, or 19.5%
10-Q MD&A Americas, Q3 2024
Europe, Middle East & Africa net sales of $442.5 in the third quarter of 2024, increased by $91.7, or 26.1%
10-Q MD&A EMEA, Q3 2024
higher sales volumes, improved price realization, manufacturing and procurement productivity, and leveraging our fixed costs
10-Q MD&A Americas, Q3 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