EVs Outrank AI Among Top Revenue Drivers For Semiconductor Industry In 2024: Survey
Benzinga
Published Dec 26, 2023 19:41
Updated Dec 26, 2023 21:10
EVs Outrank AI Among Top Revenue Drivers For Semiconductor Industry In 2024: Survey
Benzinga - by Surbhi Jain, .
The automotive is the most important revenue driver for the semiconductor industry.
That’s according to a survey conducted by KPMG LLP and the Global Semiconductor Alliance (GSA). The position is likely attributable to the continuing computerization and electrification of vehicles.
EVs May Be No.1 But AI Grabs Headlines/h2 A close second was artificial intelligence (AI), which jumped up and ranked as the second most important application driving semiconductor company revenue in 2024.
"Automotive is still the top revenue driver, but AI has surged up the list and is the headline in many ways," said Mark Gibson. Gibson is the KPMG Global and US technology, media and telecommunications leader.
Relatedly:
- Microprocessors (including GPUs used for AI) ranked as the top product opportunity for industry growth over 2024
- Implementing Gen AI ranked among the top three strategic priorities for semiconductor companies over the next three years
The AI Chip Bandwagon/h2 The current undisputed market leader in AI chips is Nvidia Corp (NASDAQ:NVDA).
Nvidia holds the largest GPU share by far for use in data centers. Qualcomm (NASDAQ:QCOM) and Advanced Micro Devices (NASDAQ:AMD) are other big players aboard the AI chip bandwagon.
Also Read: Nvidia On Track To Topple Samsung, Intel As Biggest Chipmaker By Revenue; Will The Momentum Continue In 2024?
Intel (NASDAQ:INTC) just launched its 5th Gen Xeon for servers alongside a Core Ultra semiconductor for mobile, including the new AI PC concept. With this development, Intel would be joining others such as AMD, Qualcomm and Apple Inc (NASDAQ:AAPL) in the AI PC chip arena.
Top 3 Functions Of GenAI Implementation In 2024-25/h2 The top three functions where semiconductor companies are expected to implement Gen AI in the next two years are:
Read Next: Semiconductor Stocks Soar To All-Time Highs: On Track For Strongest Year Since 2008, But Are They Too Expensive Now?
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read the original article on Benzinga
Get The App
Written By: Benzinga
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.