Lam Research (LRCX) Shares Surge as Micron’s AI-Fueled Capex Plans Lift Chip Equipment Makers

Lam Research (LRCX) and other semiconductor equipment stocks rallied on May 27, 2026, after Micron Technology’s robust outlook signaled that AI-driven chip demand remains structurally undersupplied, boosting expectations for massive capital expenditures. Micron’s blowout session prompted investors to bid up equipment makers and foundries, as every dollar of added capex flows to tool suppliers. UBS estimated Micron will spend more than $50 billion on capacity over the next five years, translating into billions of dollars of orders for companies such as Applied Materials, KLA, and ASML, as well as multi-year revenue streams for foundries like TSMC. Lam Research’s shares, which have been volatile with 29 moves larger than 5% in the past year, rose to a new 52-week high of $322.69. The stock is up 74.4% year-to-date. The broader rally echoes a trend days earlier when Nvidia’s record results stoked a semiconductor supercycle, benefiting memory chip makers and equipment suppliers alike.