Development License QNX revenue increased $14.8M or 25.7% year over year to $72.3M. Within QNX, Development License revenue increased $7.5M and Royalty revenue increased $4.2M, accounting for 50.7% and 28.4% of the QNX revenue increase respectively. QNX revenue exceeded guidance due to stronger-than-expected royalty revenue. Secure Communications increased 23.7% to $73.6M, and Licensing increased 48.9% to $7.0M.
Hyve Solutions Americas Distribution revenue increased 27.5% year over year to $9.545B, Europe Distribution revenue increased 29.2% to $6.044B, APJ Distribution revenue increased 28.5% to $1.020B, and Hyve Solutions revenue increased 49.1% to $2.966B. Management stated they delivered a record quarter with broad-based strength across Distribution and Hyve.
Custom Cabling Interconnect revenue increased 15.9% year over year to $6.945M, Custom Cabling revenue increased 29.8% to $8.427M, while Integrated Systems revenue declined 17.2% to $5.319M. The increase in net sales was primarily attributable to the Custom Cabling product offering, which increased by $1.9M, primarily driven by increased market penetration in the aerospace and industrial industries.
Multicloud AI Database Cloud and Software revenue increased 22.1% year over year, with Cloud revenue increasing 47% to $9.9B, while Software declined 2% to $6.8B. Within Cloud, Cloud Infrastructure revenue increased 93% to $5.8B, with management reporting that Multicloud AI Database increased 404% and was its fastest-growing business ever, and Cloud Applications revenue increased 10% to $4.1B. Hardware increased 9% to $0.9B, and Services increased 13% to $1.5B.
Max Platform revenue increased 25% year over year to $260.6M. Within Platform, Subscription revenue increased 24% to $202.0M, and Usage revenue increased 29% to $58.5M. Within Subscription, the number of locations on Max more than doubled in Q1, and the company was optimizing its internal processes, automating customer onboarding and expects to again double the number of locations on Max during Q2. Professional services and other revenue increased 7.1% to $8.3M.
Professional Services and Other Subscription revenue increased 26.0% year over year to $195.2M, driven by strong demand for its AI-powered customer engagement platform. Within the customer engagement platform, BrazeAI Decisioning Studio contributed $5.7M, up 26.7% organically. Management said the company had successfully accelerated the hiring and ramp of its forward deployed delivery personnel, which has enabled the company to accelerate the pace and timing of decisioning studio start dates. Professional services and other revenue increased 119.4% to $15.8M.
AI Accelerators and AI Networking Semiconductor Solutions revenue increased 79% year over year to $15.0B. Within Semiconductor Solutions, AI semiconductor revenue increased 143% to $10.8B, driven by increasing demand for custom AI Accelerators and AI Networking. Infrastructure Software revenue increased 9% to $7.2B, primarily driven by VMware Cloud Foundation. For Q3, Hock Tan, President and CEO of Broadcom, expects semiconductor revenue from AI to grow more than 200% year over year to $16.0B.
Active Electrical Cables Credo Technology’s Q4 revenue increased 157% year over year to $437.0M. FY2026 revenue increased 206% to $1.34B, with the ramp-up of Active Electrical Cable (AEC) solutions at hyperscale data center customers contributing over 99% of the revenue increase.
AI Cloud Services Bitcoin Mining revenue declined 21.3% year over year to $111.2 million while AI Cloud Services revenue increased 833% to $33.6 million. IREN reported that the decrease in Bitcoin Mining revenue was driven by lower average Bitcoin prices and decommissioning mining hardware ahead of GPU installation and billing. Average operating hashrate increased 22.4% year over year to 36.0 EH/s from 29.4 EH/s.
Falcon Platform Subscription revenue increased 26% year over year to $1.32 billion. Subscription revenue growth was primarily driven by new customer additions and sales of additional sensors and modules to existing customers. 51% of CrowdStrike’s subscription customers were using six or more Falcon modules. Professional Services revenue increased 23% to $64.8M.
