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AI infrastructure demand driving technology sector growth

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2026-10-27 18:24 UTC → 2026-10-28 03:41 UTC · added ~~removed~~

Major technology and semiconductor equipment companies are reporting significant financial growth attributed to the expansion of artificial intelligence infrastructure. Celestica Inc. reported an 83% surge in third-quarter revenue, reaching $5.83 billion, fueled by its Connectivity & Cloud Solutions ~~segment. The~~ segment, which more than doubled to $4.87 billion. Consequently, the company raised its full-year 2026 revenue forecast to $21 billion and set a long-term target of $40 billion in revenue for ~~2027, despite lowering~~ 2027. Despite this, Celestica lowered its free cash flow forecast ~~due~~ to $460 million from an initial $600 million, citing increased capital requirements for ~~expansion.~~ expansion and working capital investments. To support its growth strategy, the company recently completed a public offering that raised $3.45 billion in gross proceeds. Similarly, semiconductor equipment manufacturer ASM International reported record third-quarter revenue of €1.16 billion, a 45% year-on-year increase. The company cited strong demand for memory chips and advanced logic markets, including 1.4-nanometer and 2-nanometer investments, as key drivers. CEO Hichem M’Saad noted that the demand environment remains “very strong due to the expansion of AI infrastructure,” leading the company to ~~project~~ raise its 2027 revenue ~~will exceed~~ forecast to over €5.7 ~~billion.~~ billion—reaching its original 2030 target three years ahead of schedule. While noting that the supply chain is currently “stretched,” the company has authorized a new share buyback program of up to €300 million.

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