KLA forecasts current-quarter revenue above estimates on AI boom

News Snapshot:

Oct 25 (Reuters) - Chipmaking equipment supplier KLA (KLAC.O) on Wednesday forecast second-quarter revenue above Wall Street estimates, boosted by growing adoption of artificial intelligence tools that require sophisticated processors. Shares of the Milpitas, California-based company rose 1.6% to $462.01 in trading after the bell. A large number of organizations have taken to generative AI tools this year, which has led to an increase in spending on high-end chips made by customers of KLA, such as Taiwan Semiconductor Manufacturing Co (2330.TW) and Samsung Electronics (005930.KS). This has driven demand for equipment to make and design chips benefiting KLA and its...