A surge in demand for powerful processors, which fuel large ‌language models and AI applications, has boosted spending on chipmaking equipment made by companies such as KLA. KLA faces an uncertain long-term outlook, with demand in China challenged due to government mandates on ​locally sourcing advanced chipmaking tech. Peer Lam Research gave an ⁠upbeat quarterly forecast on Wednesday, bolstered by ​strong demand for chipmaking tools. KLA reported ​second-quarter revenue of $3.3 billion, beating analysts' average estimate of $3.25 billion, according to data compiled by LSEG. KLA forecast third-quarter revenue of $3.35 billion, plus or minus $150 million, compared with ⁠estimates of $3.28 billion.