GenAI drove the chip industry’s first quarterly revenue increase since 2021

After five straight quarters with declining revenue, the semiconductor industry reversed course and increased revenue in the second quarter, according to a report by market researcher Omdia.

The company’s Competitive Landscape Tracker said quarterly revenue grew 3.8% to $124.3 billion Q2. This growth is in line with historical patterns for the total semiconductor market, with the second quarter revenue increasing on average of 3.4% from the first quarter (using data from 2002 through 2022).