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The semiconductor industry is experiencing unprecedented growth in 2024, with the global market expected to reach $617 billion by year-end — a significant 16.6% increase from 2023. This growth has largely been fueled by the rapid advancements in artificial intelligence (AI) and the insatiable appetite for high-performance computing. Advanced AI chips are now in high demand, with manufacturers scrambling to meet the skyrocketing needs of hyperscalers.
According to the latest industry data, global semiconductor sales surged 18.3% during the second quarter to reach $149.9 billion. That includes 42.8% growth in the Americas alone, according to the the Semiconductor Industry Association (SIA).
