BofA Sees Semiconductor Market Reaching $3.2 Trillion by 2030 as AI Demand Defies Slowdown Fears
Updated
Updated · Yahoo Finance · Sep 16
BofA Sees Semiconductor Market Reaching $3.2 Trillion by 2030 as AI Demand Defies Slowdown Fears
3 articles · Updated · Yahoo Finance · Sep 16
Summary
$3.2 trillion is Bank of America's 2030 forecast for the global semiconductor market, up from $1.7 trillion in 2026 and implying the AI-driven chip cycle still has room to run.
BofA said customer orders, long-term agreements, capacity commitments and pricing show little sign of cooling, with Nvidia B200 rental rates at $5.72 an hour—still within 10% of March's roughly $6.10 peak.
2027 capacity is already largely booked across compute, networking and memory vendors, and BofA expects 2028 to stay tight as demand rises for CPUs, AI accelerators and optics-based scale-up.
Memory is the biggest growth engine in the forecast, with sales seen reaching $1.8 trillion by 2030 from $937 billion; server-related chip sales are projected to climb to $848 billion from $359 billion.
The bank said Nvidia, AMD and Marvell remain key beneficiaries, while the main risk to its bullish view is a future pullback in hyperscaler AI capital spending.
With GPU prices soaring and memory sold out, what happens to the trillion-dollar market if hyperscalers suddenly slash their AI spending?
If AI hardware demand is unstoppable, could global power grid limitations trigger an unexpected crash in the semiconductor boom by 2030?
As data movement becomes the ultimate bottleneck, will silent shortages in networking and cooling derail the projected $3.2 trillion semiconductor revolution?