Thanks in part to the AI boom, the global semiconductor industry is on the brink of recovery, according to consultancy Gartner. Next year, global chip sales are expected to rise by almost 17 percent to about 624 billion dollars (574 billion euros), according to Gartner analyst Alan Priestley.
The continuously growing demand for special processors for artificial intelligence (AI) cannot make up for the decline in PC and smartphone chips this year and therefore expects a total decline of almost eleven percent to $534 billion in 2023.
AI is driving demand for GPUs
The rise of applications like ChatGPT increases the need for graphics processing units (GPUs) designed to handle the simultaneous processing of numerous data required for AI.
Nvidia currently dominates the global market for AI chips. However, competitors such as AMD or major cloud providers such as Alphabet subsidiary Google are working on competing products.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
