(Reuters) -Chip-making tools maker KLA Corp forecast first-quarter revenue and profit above Wall Street estimates on Thursday, boosted by higher investments in artificial intelligence (AI), sending its shares up nearly 3% after the bell.
Businesses across sectors have been racing to integrate AI tools after OpenAI's ChatGPT caught the attention of consumers and investors, benefiting companies like KLA that are essential to the chip supply chain.
"KLA is benefiting from demand drivers in markets including silicon wafer and photomask manufacturing, each of which is experiencing general capacity expansion," the company said in a letter to shareholders.
The company has also benefited from chipmakers looking to diversify their supply chains out of China, as trade tensions with the U.S. intensify.
Companies, including Intel, TSMC, Samsung, Texas Instruments and Micron, are building new plants across the United States, raising the demand for chip tools.
