Global chip sales forecast to jump 13% this year after rocky 2023: Industry group

SAN FRANCISCO: A surge in demand for artificial intelligence (AI) and a steady rise in automotive chips will help propel a rebound in global chip sales this year, according to an industry group’s annual sales data released on Monday.

The Semiconductor Industry Association (SIA) forecast a 13.1% jump in global chip sales to $595.3 billion, compared with a drop of about 8% in sales in 2023.

“AI is a super strong market – I think of you look across the landscape, there’s a lot of positive things to look at,” SIA Chief Executive John Neuffer told Reuters in an interview.