A Bank of America analyst has raised the global semiconductor market forecast to $3.2 trillion by 2030 from $2.7 trillion, signaling robust growth driven by AI infrastructure needs.

The upgrade is led by strong demand for memory chips and data-center components, with ongoing rebounds in automotive and industrial sectors contributing to upside.

The total addressable market for semiconductors is now seen at $3.2 trillion by 2030, with memory and data-center segments fueling most growth and gains also anticipated from autos and industrial recoveries.

Micron is highlighted for its leading memory position, as AI workloads remain memory-intensive and high-bandwidth memory remains critical to the supply chain.

Demand remains supported by data centers and AI, with memory prices for DRAM and NAND stabilizing; Nvidia GPU rental pricing is $5.72 per hour, below its March peak.

Stronger data-center and AI demand underpins the updated growth outlook and related investment cycle.

Memory-market data show DRAM revenue rising about 60% quarter-to-quarter to roughly $154.7 billion in Q2, with AI-server demand boosting memory shipments amid tight supply.

The article frames AI-driven capex in semiconductors as a broader trend, with the market expected to nearly double from around $1.7 trillion today within the next four years.

An article note indicates the content was AI-assisted and reviewed by an editor.

Beneficiaries include NVIDIA, AMD, Marvell, Analog Devices, ON Semiconductor, Micron, Lam Research, Applied Materials, and Intel, reflecting both chipmakers and equipment makers riding the AI-driven demand surge.

Primary drivers of the upgrade are memory chips and data-center components linked to AI deployment and capacity expansion, with ongoing orders signaling resilience against AI spending slowdowns.

The forecast sits within broader conversations about AI development and its potential to reshuffle the semiconductor landscape, with an optimistic long-term outlook.