LRCX · 10-K · 2026A · Full report
R&D Investment in AI
LAM RESEARCH CORP · 2026-08-07 · Importance 60 · Surprise 40 · No source text
Lam Research stated that artificial-intelligence-related electronic-system demand is driving semiconductor manufacturers toward 3D architectures, advanced patterning, new materials, and advanced integration. The Company continued significant R&D investment in leading-edge deposition, etch, clean, and other semiconductor processes. Fiscal 2026 R&D expense increased 13.3% to $2.38 billion, including $131.4 million of employee-related costs from increased headcount and $69.8 million of higher engineering-supplies expense.
Key facts
- Research & development expense for fiscal year 2026: $2,375,873 (in thousands), a 13.3% increase versus fiscal year 2025 source
- R&D expense as a percent of revenue decreased to 10.2% in fiscal year 2026 from 11.4% in fiscal year 2025 (-120 bps) source
- Fiscal year 2026 R&D expense increase included $131.4 million in employee-related costs from increased headcount and $69.8 million in higher engineering supplies expense source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -1.2% | Research & development expense for fiscal year 2026: $2,375,873 (in thousands), a 13.3% increase versus fiscal year 2025 |
| margin | positive | realized | +1.2% | R&D expense as a percent of revenue decreased to 10.2% in fiscal year 2026 from 11.4% in fiscal year 2025 (-120 bps) |