Lam Research and CEA-Leti Expand Research and Development Collaboration to Advance Fabrication of Specialty Technologies

Rhea-AI Summary

Lam Research (Nasdaq: LRCX) and CEA-Leti signed a new multi-year R&D agreement on Feb. 2, 2026 to accelerate pathfinding for materials and fabrication processes for Specialty Technology devices.

The collaboration targets MEMS, 3D imaging and sensors, power management, RF, photonics (including MicroLED), optical interconnects, and quantum optics, combining Lam's etch/deposition tools and PLD system with CEA-Leti's device characterization capabilities.

Key Figures

Quarterly revenue: $5.34 billion GAAP diluted EPS: $1.26 Non-GAAP diluted EPS: $1.27 +5 more

8 metrics

Quarterly revenue $5.34 billion Quarter ended December 28, 2025 (press release)

GAAP diluted EPS $1.26 Quarter ended December 28, 2025

Non-GAAP diluted EPS $1.27 Quarter ended December 28, 2025

Six-month revenue $10.67 billion Six months ended December 28, 2025 (10-Q)

Six-month net income $3.16 billion Six months ended December 28, 2025 (10-Q)

Gross margin 50.0% of revenue Six months ended December 28, 2025 (10-Q)

Cash & equivalents $6.20 billion As of December 28, 2025 (10-Q)

Share repurchases $2.44 billion Six months ended December 28, 2025 (10-Q)

Market Reality Check

Price: $237.50 Vol: Volume 16,833,806 vs 20-d...

normal vol

$237.50 Last Close

Volume Volume 16,833,806 vs 20-day average 14,181,503 (relative volume 1.19x). normal

Technical Shares at $233.46, trading above 200-day MA of $126.73 and 7.31% below 52-week high.

Peers on Argus

LRCX fell 5.93% while key peers also declined: KLAC -7.28%, AMAT -3.19%, TER -2....

LRCX fell 5.93% while key peers also declined: KLAC -7.28%, AMAT -3.19%, TER -2.95%, ENTG -2.28%, ASML -1.18%. Despite broad weakness, momentum scanners did not flag a coordinated sector move.

Historical Context

5 past events · Latest: Jan 28 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 28	Quarterly earnings	Positive	+0.5%	Reported strong December-quarter revenue, margins and EPS with formal outlook.
Jan 15	Earnings call date	Neutral	+2.5%	Announced date and time for upcoming financial results conference call.
Jan 07	Conference call notice	Neutral	-1.9%	Scheduled December-quarter financial conference call and webcast details.
Nov 21	AI facility investment	Positive	+2.2%	Opened new $65M, 120,000-sq-ft Oregon building to expand R&D capacity.
Nov 21	Facility correction	Positive	+2.2%	Clarified details on new $65M Oregon office and R&D expansion plans.

Pattern Detected

Recent Lam-specific news (earnings, AI investment, facilities expansion) generally saw modest positive alignment between news tone and 24-hour price reaction, with one conference-call notice showing mild divergence.

Recent Company History

Over the past several months, Lam reported solid fundamentals and strategic expansion. December-quarter results on Jan 28, 2026 showed $5.34B revenue and EPS around $1.26–$1.27, with a small positive price reaction. A November $65M facility investment in Oregon for up to 700 workspaces, tied to AI-era growth, also coincided with a 2.19% gain. In contrast, a January 2026 conference-call announcement saw a mild decline. Today’s R&D collaboration extends this pattern of long-term technology and capacity investment news.

Regulatory & Risk Context

Active S-3 Shelf

Shelf Active

Active S-3 Shelf Registration 2025-08-11

Lam has an effective S-3ASR shelf filed on 2025-08-11, expiring 2028-08-11, permitting offerings of multiple security types. The filing shows 4,000,000,000 authorized common shares and 5,000,000 authorized preferred shares, with 1,265,620,604 common shares outstanding as of Aug 7, 2025. Shelf usage_count is 0, indicating no 424B takedowns recorded in this dataset.

Market Pulse Summary

This announcement highlights Lam’s push into next-generation specialty technologies through a multi-...

Analysis

This announcement highlights Lam’s push into next-generation specialty technologies through a multi-year CEA-Leti collaboration spanning MEMS, 3D imaging, RF, photonics, and quantum optics. It builds on prior R&D expansion, including a $65M Oregon facility for up to 700 workspaces, and follows recent strength with six-month revenue of $10.67B and gross margin at 50.0%. Investors may watch for concrete milestones from this program, updates alongside future earnings, and any capital allocation actions under the effective S-3ASR shelf.

Key Terms

micro-electromechanical systems (mems), photonics, optical interconnect, radio frequency (rf), +1 more

5 terms

micro-electromechanical systems (mems) technical

"including micro-electromechanical systems (MEMS), 3D imaging and sensors, power"

Tiny mechanical devices built onto semiconductor chips that combine moving parts and electronics to sense, move or control things—think of watch gears miniaturized and printed on a computer chip. They power common sensors and tiny motors in phones, cars, medical devices and industrial equipment, so their cost, size and reliability can directly affect product performance, production costs and market opportunities for companies that make or use them.

photonics technical

"photonics (including MicroLED display applications), and optical interconnect"

Photonics is the science and technology of creating, guiding and detecting light, including lasers, optical fibers and sensors; think of it as building and controlling tiny beams of light the way engineers build and route electricity or water through pipes. For investors, photonics matters because it underpins faster communications, precise sensors, advanced manufacturing and medical devices—products and cost savings that can drive revenue growth, competitive advantage and long-term market value.

optical interconnect technical

"MicroLED display applications), and optical interconnect technologies."

Optical interconnect is a way of linking electronic components using pulses of light instead of traditional electrical wires, like swapping copper cables for fiber-optic highways inside and between devices. It matters to investors because light-based connections can carry much more data, use less power and generate less heat than electrical links, which can lower operating costs and enable faster, more scalable products for data centers, telecom and high-performance computing markets.

radio frequency (rf) technical

"sensors, power management and radio frequency (RF) solutions, photonics"

Radio frequency (RF) describes the range of electromagnetic waves used to carry wireless signals and transfer energy over the air, similar to lanes on a highway that different devices use to send and receive information. It matters to investors because RF technology and access to specific frequency bands affect the performance, cost and regulatory compliance of companies in wireless communications, consumer electronics, medical devices and industrial equipment, influencing product competitiveness and revenue potential.

quantum optics technical

"optical devices is an area of particular excitement, especially in the field of quantum optics"

Quantum optics studies how light behaves when you treat it as tiny packets and how those packets interact with matter at the smallest scales; imagine controlling single particles of light the way you might move individual marbles instead of a bucketful of sand. It matters to investors because advances in this field enable technologies—such as ultra-fast computing, unbreakable communication, and extremely sensitive sensors—that can create new markets, change competitive positions, and drive long-term value for companies working to commercialize them.

AI-generated analysis. Not financial advice.

New Multi-Year Agreement Will Focus on Accelerating Pathfinding of New Materials and Processes for the Manufacturing of More Energy-Efficient Specialty Devices

FREMONT, Calif. and GRENOBLE, France, Feb. 2, 2026 /PRNewswire/ -- Lam Research Corp. (Nasdaq: LRCX), a leader in semiconductor fabrication equipment and services and CEA-Leti, a research institute pioneering micro- and nanotechnologies, today announced a new multi-year agreement to advance the development of next-generation Specialty Technology devices, including micro-electromechanical systems (MEMS), 3D imaging and sensors, power management and radio frequency (RF) solutions, photonics (including MicroLED display applications), and optical interconnect technologies.

Under the agreement, Lam and CEA-Leti will explore novel multi-elemental materials and pathfinding for future fabrication processes of higher-efficiency compound semiconductors. By working with CEA-Leti, Lam strives to more quickly identify and overcome critical materials and engineering challenges, and accelerate the optimization of new fabrication solutions for future generations of Specialty Technology devices for AI and high-performance computing.

"As we enter the AI era, the opportunities for Specialty Technology are immense. This agreement enables Lam to complement its industry-leading capabilities in etch and deposition with CEA-Leti's deep expertise in device characterization to fast-track the development of new, ground-breaking advancements and future generations of more energy-efficient and higher-performance Specialty Technology devices," said Vahid Vahedi, chief technology and sustainability officer at Lam Research.

"By rapidly characterizing how new materials behave in complex device structures, we can pinpoint critical integration challenges and provide Lam with actionable feedback," said Sébastian Dauvé, CEO of CEA-Leti. "This accelerates the transition from promising process innovation to validated functionality in new generations of Specialty Technology devices — and strengthens our ability to support our industrial partners with solutions ready for industrialization."

Building on a long history of successful co-development projects, including recent work on pulsed plasma technologies, the new joint research with CEA-Leti will focus on exploring a range of new, novel materials and films for lower-power, high-performance specialty technology applications and devices. These are intended solutions for next-generation RF filters, electro-optic modulation, and quantum optics.

Lam's innovative etch and deposition technologies, including the company's breakthrough pulsed laser deposition (PLD) system, Lam Prestis™, will be integral to the research. By accessing CEA-Leti's extensive materials analysis, surface science, and device characterization and measurement capabilities, Lam aspires to better understand the impact of process developments on materials properties and device performance.

"Specialty Technologies today are found in nearly every electronic device, and their performance and power efficiency will continue to be challenged as end applications grow. We look forward to working with CEA-Leti at the leading edge of materials science, process technology, and industry-specific applications," said David Haynes, vice president of Specialty Technologies at Lam Research. "The deployment of optical devices is an area of particular excitement, especially in the field of quantum optics, where, through our collaboration with CEA-Leti, we intend to accelerate innovation to deliver breakthroughs for the next generation of devices."

About Lam Research
Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500^® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com.

About CEA-Leti
CEA-Leti, a technology research institute at CEA, is a global leader in miniaturization technologies enabling smart, energy-efficient and secure solutions for industry. Founded in 1967, CEA-Leti pioneers micro-& nanotechnologies, tailoring differentiating applicative solutions for global companies, SMEs and startups. CEA-Leti tackles critical challenges in healthcare, energy and digital migration. From sensors to data processing and computing solutions, CEA-Leti's multidisciplinary teams deliver solid expertise, leveraging world-class pre-industrialization facilities. With a staff of more than 2,000 talents, a portfolio of 3,200 patents, 11,000 sq. meters of cleanroom space and a clear IP policy, the institute is based in Grenoble (France) and has offices in San Francisco (United States), Brussels (Belgium), Tokyo (Japan), Seoul (South Korea) and Taipei (Taiwan). CEA-Leti has launched 80 startups and is a member of the Carnot Institutes network. Follow us on www.leti-cea.com and @CEA_Leti.

Technological expertise

CEA has a key role in transferring scientific knowledge and innovation from research to industry. This high-level technological research is carried out in particular in electronic and integrated systems, from microscale to nanoscale. It has a wide range of industrial applications in the fields of transport, health, safety and telecommunications, contributing to the creation of high-quality and competitive products.

For more information: www.cea.fr/english 

Caution Regarding Forward-Looking Statements:
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of Lam and CEA-Leti, and certain assumptions made by Lam and CEA-Leti, all of which are subject to change. Examples of such forward-looking statements include, but are not limited to, statements in this press release regarding (i) the collaboration between Lam and CEA-Leti, (ii) Lam's and CEA-Leti's expectations regarding the benefits of the agreement, (iii) industry trends and future technology requirements, and (iv) the capabilities of Lam's products and the two parties' technology. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: Lam and CEA-Leti may not receive the expected benefits of the collaboration agreement; business, economic, political and/or regulatory conditions in the industry and the overall economy may deteriorate or change; the actions of Lam's customers and competitors may be inconsistent with Lam's expectations; trade regulations, export controls, tariffs, trade disputes, and other geopolitical tensions may inhibit Lam's ability to sell its products; as well as the other risks and uncertainties that are described in the documents filed or furnished by Lam with the Securities and Exchange Commission, including specifically the Risk Factors described in Lam's annual report on Form 10-K for the fiscal year ended June 29, 2025 and quarterly report on Form 10-Q for the quarter ended December 28, 2025. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. Lam and CEA-Leti undertake no obligation to update the information or statements made in this press release.

Lam Research Contacts:

Laura Bakken
Media Relations – U.S.
(510) 572-9021
publicrelations@lamresearch.com 

Nestor Zegarra Cavero
Media Relations – Austria
+43 676 82049569
nestor.zegarracavero@lamresearch.com

Ram Ganesh
Investor Relations
(510) 572-1615
investor.relations@lamresearch.com

CEA-Leti Contacts:

Marion Levy
marion.levy@cea.fr 

Sarah-Lyle Dampoux (Agency)
sldampoux@mahoneylyle.com
+33 6 74 93 23 47

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SOURCE Lam Research Corporation

FAQ

What did Lam Research (LRCX) announce with CEA-Leti on February 2, 2026?

Lam Research (LRCX) announced a multi-year R&D collaboration with CEA-Leti to advance specialty technology fabrication. According to the company, the agreement focuses on pathfinding new materials and processes to speed development of energy-efficient MEMS, photonics, RF, sensors, and quantum optical devices.

Which device areas will the LRCX and CEA-Leti collaboration target?

The collaboration targets MEMS, 3D imaging and sensors, power management, RF, photonics, and optical interconnects. According to Lam Research, work will include MicroLED display applications and quantum optics, emphasizing materials, films, and process integration for higher efficiency and performance.

How will Lam Research's technology be used in the CEA-Leti partnership?

Lam Research will apply its etch and deposition tools, including the Lam Prestis pulsed laser deposition system, to joint research activities. According to the company, Lam's equipment will couple with CEA-Leti's materials analysis and device characterization to validate process impacts on device performance.

What are the stated objectives of the LRCX–CEA-Leti multi-year agreement?

The stated objectives are accelerating pathfinding of novel multi-element materials and optimizing fabrication processes for next-generation specialty devices. According to Lam Research, the aim is faster identification of integration challenges and quicker transition from process innovation to validated functionality.

Will the LRCX and CEA-Leti collaboration affect commercialization timelines for specialty technologies?

The partnership aims to accelerate development and reduce time to validated solutions by combining process tools with advanced characterization. According to the company, faster material characterization and actionable feedback should shorten the path from research to industrial-ready fabrication methods.