(Reuters) -Lam Research forecast second-quarter revenue above Wall Street estimates on Wednesday, as chipmakers ordered more of its equipment used to manufacture semiconductors for artificial intelligence applications.

Shares of the Fremont, California-based company rose 2.2% in trading after the bell. The stock has doubled so far this year, supported by strong demand for AI semiconductors as chip designers seek equipment to create processors capable of meeting growing computing needs.

A boom in demand for AI-powered chips has bolstered demand for companies that provide wafer fabrication equipment (WFE), which are sophisticated and expensive tools to make chips, helping firms including Lam.

Lam develops tools essential for semiconductor manufacturing. Its products are primarily used in

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