SEMI CEO Ajit Manocha predicts an upward trajectory for the current chip cycle, arguing that AI-driven demand has fundamentally transformed semiconductor market dynamics. Global semiconductor revenues reached 368 billion dollars in Q2 2026, a 35% jump from the prior quarter and a 104% year-over-year increase. Full-year 2026 growth forecasts range from 90% to 112%, with the total market projected near 1.6 trillion dollars. AI-driven memory growth reached 50% to 76% quarter-over-quarter as of Q2 2026, with high-bandwidth memory (HBM) at the center of that surge. Over 100 new fabrication plants are under construction or in planning worldwide, supported by hundreds of billions of dollars in annual hyperscaler capex and government-backed initiatives like the CHIPS Act.
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