Applied Materials projects China revenue to grow in 2026 despite US curbs

SemiconductorsAmerican chip equipment maker reports record earnings driven by AI demandApplied Materials reported a record $9.12 billion in total revenue during the May-July quarter driven by strong AI demand. © ReutersYIFAN YUAugust 14, 2026 07:37 JSTPALO ALTO, California -- Applied Materials, a top U.S. supplier of chipmaking equipment, reported record earnings Thursday and raised revenue expectations for 2026 on strong demand for semiconductors needed for an AI infrastructure buildout.