Semiconductor sales set a record for quarterly growth in the spring, powered almost entirely by AI and memory. The global market hit $368B in the second quarter, up 35% sequentially and 104% from a year earlier, per WSTS data crunched by Semiconductor Intelligence.
Memory makers posted the biggest sequential gains of any segment. Kioxia led with 76% growth, SK hynix and Sandisk each added 51%, and the two flash suppliers both more than quadrupled revenue versus last year on their way into the top ten.
The AI contingent drove nearly all of the growth. Nvidia logged an 18% sequential gain, while the rest of the top 20 outside that group expanded a combined 9%, with Qualcomm’s IC business off 6% and Intel up 19%.
The pace appears set to moderate. Memory makers guiding for the third quarter expect growth below half the spring rate, and while five forecasters now see 2026 expanding 90% or more, projections for 2027 cluster in the mid-20% range.
