Meta Platforms and Lam Research Capitalize on AI Growth
Meta Platforms reported a 22% increase in Q2 revenue, reaching $47.5 billion, driven by AI-powered advertising tools that enhanced ad conversions by 5% on Instagram and 3% on Facebook. The company’s earnings per share surged 38% year-over-year to $7.14. Additionally, user engagement rose, with Facebook and Instagram usage increasing by 5% and 6%, respectively.
Lam Research, specializing in semiconductor manufacturing equipment, saw its revenue rise by 23% year-over-year to $18.4 billion for fiscal 2025. The company anticipates $5.2 billion in revenue for the current quarter, surpassing analyst expectations. The sector is projected to experience a 6.2% increase in wafer fabrication equipment spending in 2025, continuing with a forecasted 10.2% increase in 2026, as demand for AI-focused chips grows.
