The semiconductor industry is projected to generate $611 billion in revenue this year, up 16% from the previous year, and is expected to continue growing by 12. 5% in 2025, according to the World Semiconductor Trade Statistics. A major driver of this growth is the demand for chips used in artificial intelligence (AI), benefiting companies like Nvidia and Micron Technology. Nvidia has significantly profited from the rise in AI, particularly due to its dominance in the data center GPU market, where it holds a 98% share. The demand for these GPUs is projected to grow annually by 28% through 2032. Nvidia expects its GPU shipments to increase by 55% in 2025, potentially raising its data center revenue to $200 billion, nearly double its current rate.
Analysts anticipate a 42% revenue increase for Nvidia in the next fiscal year, with continued growth from various AI-related markets. Similarly, Micron Technology has experienced a surge in demand for its memory chips essential to AI applications, notably impacting its revenue. The company recorded a 61% revenue increase in fiscal 2024, benefiting from strong demand for data center DRAM products and high bandwidth memory. This trend is expected to continue, with the DRAM market projected to grow by 51% in 2025, significantly boosting Micron's revenue. Both Nvidia and Micron are strong contenders in the AI semiconductor sector. However, Micron presents a more affordable investment option compared to Nvidia.
Semiconductor Industry Soars with AI-driven Demand in 2023
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