Lam Research reports record revenue driven by AI demand

Lam Research has reported record quarterly revenue of $8.22 billion for the period ending September 2026, representing a 54% increase year-over-year. The growth was driven by high demand for semiconductor manufacturing equipment, particularly for AI applications, memory, and foundry logic services.

Despite the record performance, the company noted that near-term supply chain constraints, including limited clean-room space and component shortages, may prevent the industry from fully meeting demand through 2027. Lam Research expects industry spending on chipmaking equipment to exceed $200 billion in 2027, up from the mid-$150 billion range this year.

Regional sales data showed China accounted for 35% of revenue, followed by South Korea at 20% and Taiwan at 18%. However, the company anticipates a significant decrease in the proportion of revenue from China in the upcoming quarter due to reduced investment from Chinese customers.