Autodesk (ADSK)

Design software for buildings, infrastructure & products (AutoCAD/Revit/Fusion) — designs the physical world, not chips

AI exposure 6% — derived from reported segment revenue, not asserted.

Where it sits

Software Stack → EDA & Engineering Software · figures rebased to Q2 FY2027, reported 2026-08-27

Autodesk authors designs for the built environment — AutoCAD, Revit and Civil 3D for buildings and infrastructure are its largest business at 50%, with Fusion and Inventor for manufactured products behind it. Engineering-design authoring, which is the half of this sub-tier that sits alongside chip design rather than inside it.

Reported segments

• Design — 83.5% of revenue
• Make — 11.9% of revenue
• Other — 4.6% of revenue

Autodesk ($2,046M Q2 FY2027, +16% YoY, +14% constant currency). REPORTING STRUCTURE CHANGED: the four product families (AECO, AutoCAD & AutoCAD LT, Manufacturing, Media & Entertainment) are retired in favour of three — Design $1,708M (83.5%, +16%), Make $244M (11.9%, +26%) and Other $94M (4.6%, -3%). Design gathers the authoring tools across every industry; Make is the execution layer — Construction Cloud, Fusion Operations, Flow — and is growing at over 1.5x the Design rate off a small base.

How the 6% is built

• Design — 83.5% of revenue × 6% AI-driven (disclosed). Authoring tools for buildings, infrastructure, products and media, bought for drafting and modelling; generative-design and AI assist features are bundled into existing subscriptions
• Make — 11.9% of revenue × 8% AI-driven (estimate). Construction and manufacturing execution software, where the data-centre construction boom is a real if unquantified tailwind — Autodesk does not break out end markets
• Other — 4.6% of revenue × 2% AI-driven (disclosed). Education and consumer licences with no AI linkage

Investment read

Moat. Design-software franchise (AutoCAD/Revit/Fusion) + installed-base + subscription lock-in; dominant in AEC + manufacturing design.

Bottleneck / pricing power. Moderate-to-strong pricing power (installed-base + format lock-in + subscription); benefits from data-center/infrastructure construction design demand.

Role in the AI stack. The AEC + manufacturing design-software layer.

Connected companies

• Bentley Systems (BSY) — ADSK competes with: AEC / infrastructure design software (Autodesk buildings vs Bentley infrastructure)
• PTC Inc. (PTC) — ADSK competes with: Compete in mechanical/product CAD (Autodesk Inventor/Fusion vs PTC Creo/Onshape); less overlap in Autodesk's AEC vs PTC's PLM strengths
• Dassault Systèmes (DSY) — ADSK competes with: design/CAD — Autodesk vs Dassault

Others in EDA & Engineering Software

• Synopsys (SNPS)
• Cadence Design Systems (CDNS)
• Dassault Systèmes (DSY)
• Bentley Systems (BSY)

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