Applied Materials CFO Brice Hill says this quarter’s artificial-intelligence-fueled profit and revenue boosts are a harbinger for accelerated growth in its fiscal 2025. “We’re not giving a guide for ’25, but we think there’s a lot of energy around the AI markets,” he says. Unlike competitor Intel, Applied says it has no plans to cut back expenditures. Rather, the company’s continued growth will require increased investments related to research and development. That’s because AI ambitions are driving increased demand for chips, “as well as the need for significant advances in semiconductor innovation,” CEO Gary Dickerson says. Applied posts higher profit and revenue in its fiscal 3Q, while shares fall 2.7% in after-hours trading.