Vertiv Holdings
VRTQ1 2024(VRT Q4 FY2023)Estimated6% AI
AI Revenue %
6%
AI Fair Value
$2.5B
AI Revenue (Q)
$104.6M
Total Revenue (Q)
$1.7B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Full year 2023 revenue was $6,863.2M (Americas $3,844.5M, APAC $1,527.8M, EMEA $1,490.9M). Q4 2023 implied: $6,863.2M - $4,997.8M (9mo) = $1,865.4M. 10-K shows Americas critical infrastructure & solutions increased $952.1M YoY for full year, and Thermal remains the leading growth driver. AI data center investment accelerated into year-end 2023. However, Vertiv still provides no AI revenue breakout. The vast majority of revenue remains general data center infrastructure. Estimating 6% for Q4 as AI demand ramps further. $111.9M AI / $1,865.4M total = ~6.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Americas net sales of $3,844.5 in 2023 increased $1,115.9, or 40.9% from 2022
10-K Segment Note, FY2023
net sales increased in critical infrastructure & solutions by $952.1
10-K MD&A Americas, FY2023
provides mission-critical digital infrastructure technologies and life cycle services primarily for data centers, communication networks, and commercial and industrial environments
10-K Item 1 Business, FY2023
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 solutionsSwitchgear
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix