Tech
Lam Research beats quarterly revenue estimates on surging AI chip demand
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Chip-making equipment supplier Lam Research beat Wall Street expectations for third-quarter revenue on Wednesday, fueled by robust demand for advanced AI chips, sending the company’s shares up 4.5% in extended trading.
The increased appetite for high-performance AI chips and processors – essential for powering AI workloads – is prompting major chip manufacturers like Taiwan Semiconductor Manufacturing Co, one of Lam’s biggest customers, to ramp up orders. This surge is benefiting equipment suppliers such as Lam as well.
Lam posted revenue of $4.72…
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