:Chip-making tools supplier Lam Research forecast quarterly revenue above Wall Street estimates, as semiconductor makers scramble to meet a surge in demand fueled by rising adoption of artificial intelligence technology.Businesses across sectors have been racing to incorporate AI capabilities after OpenAI's ChatGPT caught the attention of consumers and investors alike, benefiting companies like Lam that are essential to the chip supply chain.
"Advanced AI servers have significantly higher leading-edge logic, memory and storage content versus traditional servers, and every incremental 1 per cent penetration of AI servers and data centers is expected to drive $1 billion to $1.5 billion of additional investment," Archer said on a conference call with analysts.
Lam, Applied Materials and Dutch firm ASML are among a few main suppliers of wafer fabrication equipment - sophisticated and expensive machinery used to make semiconductors. Chinese companies have shifted purchasing to equipment used for older logic and memory chips following U.S. export control restrictions from October of 2022, the CEO said.
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