US chip toolmaker Lam Research to invest over $1 billion in India

BENGALURU, Feb 12 (Reuters) - U.S.-based chip toolmaker company Lam Research (LRCX.O), opens new tab said it will invest over 100 billion rupees ($1.2 billion) in the next few years in India's southern Karnataka state, the latest boost to the nation's plans to bolster its semiconductor ecosystem.
During an 'Invest Karnataka' event on Tuesday, Lam Research said it has signed a memorandum of understanding (MoU) with the Karnataka Industrial Area Development Board (KIADB) for the investment.