AI stocks are picking back up. The Global X AI ETF is up 19% YTD, outpacing the S&P 500. This is mainly driven by continued data center investments to support AI software from companies like Palantir and Anthropic. With the high demand for AI chips, companies that make semiconductor manufacturing equipment are seeing increased orders. Lam Research (LRCX) is one of the main suppliers. They recently raised their 2026 industry spending forecast to $140 billion. Analysts project Lam's revenue will grow 26% this fiscal year to $23.2 billion, followed by a 31% increase next year. The broader semiconductor market is expected to grow by 20% annually through 2030. The stock is already up 62% this year, but their projected earnings growth points to continued upside if equipment demand holds up.