Question 1

What percentage of Lam Research's revenue comes from AI?

Accepted Answer

Lam Research derives approximately 14.91% of its revenue from AI-related products and services, representing $2.5B in annual AI revenue out of $17.1B total. This estimate has "Estimated" confidence — no direct ai revenue disclosure — estimated from product mix.

Question 2

What is Lam Research's AI Fair Value?

Accepted Answer

Lam Research's AI Fair Value is $59.9B, ranking it #16 among publicly traded companies in the AI supply chain. AI Fair Value is calculated as Market Cap × AI Revenue %, representing what a company's AI business would be worth as a standalone entity.

Question 3

How has Lam Research's AI revenue changed recently?

Accepted Answer

Lam Research's AI revenue percentage increased from 17.0% to 19.0% (+2.0pp) between Q4 2025 and Q1 2026. Over the last 12 quarters tracked, AI revenue has trended upward.

Question 4

How does Lam Research compare to peers in Semicon Equip?

Accepted Answer

Lam Research's AI revenue percentage of 14.91% is below the Semicon Equip layer average of 23.2%. Among 5 ranked peers, 4 peers have a higher AI revenue percentage.

Question 5

Where does Lam Research sit in the AI supply chain?

Accepted Answer

Lam Research operates in the Semiconductor Equipment layer (Layer 2 of 9) of the AI supply chain. Manufacturers of the machines used to fabricate chips — lithography, etching, deposition, and inspection systems. Key AI products include Sense.i, Kiyo, VECTOR, ALTUS.

Question 6

How reliable is Lam Research's AI revenue estimate?

Accepted Answer

Lam Research's AI revenue data has a "Estimated" confidence tier. No direct AI revenue disclosure — estimated from product mix. Source: SEC Filing Analysis.

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