Teradyne's revenue is now 70% AI-driven ahead of Q2 earnings, and crypto's GPU supply chain should be paying attention

Teradyne now generates roughly 70% of its revenue from AI-related demand. That figure was around 40-50% just two quarters ago.

The company’s Q2 2026 earnings report is expected between July 28-29. Here’s the thing: Teradyne doesn’t make GPUs or AI chips directly. It makes the testing equipment that ensures those chips actually work before they ship.

Record revenue and a rapid AI pivot

Teradyne’s Q1 2026 numbers were hard to ignore. Revenue hit an all-time high of $1.28 billion, representing 87% year-over-year growth.

The AI share of that revenue tells an even sharper story. In Q3 2025, AI-related demand accounted for between 40-50% of total revenue. By Q4 2025, it climbed to around 60%. And in Q1 2026, it reached approximately 70%.