The global semiconductor industry's revenue in the third quarter of 2024 increased by 17% year-on-year to $158.2 billion, mainly due to the demand for artificial intelligence (AI) technology and the recovery of the memory industry. Nvidia and AMD became the main winners in the field of artificial intelligence, and their AI-related business units grew significantly. Counterpoint's semiconductor revenue tracker shows that most companies have achieved strong quarterly results in the third quarter of 2024. The automotive industry continues to face challenges, and the companies under observation reported a decline in year-on-year revenue due to the ongoing destocking process. In addition, the top 22 global semiconductor suppliers accounted for 73.1% of the market share, which was the same as the same period last year. These data reflect the overall resilience and adaptation strategies of semiconductor companies in a volatile market environment. Notably, Samsung regained its position as the leader in the semiconductor revenue rankings, with a year-on-year growth of 18%. SK Hynix and Micron's revenue increased by 94% and 93% year-on-year, respectively. Samsung's memory chip division benefited from strong demand for artificial intelligence and traditional servers. Nvidia's revenue growth of 94% year-over-year in the third quarter of 2024 helped the brand secure the seventh position. Looking ahead, Nvidia is expected to continue to excel in the field of artificial intelligence as its Blackwell production shipments will begin in the fourth quarter of 2025 and are expected to increase into fiscal 2026. Intel's third-quarter 2024 earnings fell 6% year-over-year due to significant restructuring charges and a major cost-cutting initiative. In addition, the company faced large impairment charges, primarily related to the accelerated depreciation of Intel's 7-node manufacturing assets and goodwill impairment in its Mobileye division, which severely hurt its profit margins. The automotive industry has been grappling with significant challenges that have led to broad-based revenue declines due to the ongoing destocking process and weak sales. Going forward, AI technologies, including servers, PCs, and smartphones, are expected to remain a major revenue generator. The storage industry is expected to benefit from the growth in demand for storage solutions associated with AI advancements. The recovery of the automotive industry is likely to remain slow due to existing inventory adjustments and market challenges. |
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