The demand for AI-crunching semiconductors has pushed the sales of semiconductors to $166,000,000,000 within a quarter this year.

The AI hype train has been going for a while now and shows no sign of slowing. The public's perception of AI technology continues to vary. However, the semiconductor industry is booming thanks to all the investment. According to the Semiconductor Industry Association, global semiconductor sales have increased by 23.2% since 2023.

This is equivalent to $166 billion in revenue, with $55.3 billion of sales reported in September (via Wccftech).

SIA President and Chief Executive Officer John Neuffer stated: "The global semiconductor industry continued to grow in the third quarter 2024. Quarter-to-quarter growth was the highest since 2016.

"Sales in September were the highest monthly total ever recorded by the market, driven by a 46.3% increase year-over-year in the Americas."

The demand for high-end semiconductors is not limited to the Americas. Sales in Asia/Pacific, Japan, and China were all up year-over-year in September. There were some sales drops in Europe, however. Sales in Europe fell by 8.2% during the same month.

This is in line with the latest financial disclosures by TSMC, world's leading manufacturer of high end chips. The Taiwanese firm recently announced that its third quarter revenue increased by 39% over the previous year, equating $23.5 billion.

Nvidia is certainly at the peak of this current semiconductor boom. It has once again surpassed Apple to top the market cap table with an estimated value of $3.652 billion. The demand for its new Blackwell Enterprise GPUs was immense, with industry giants like Amazon.com, Google, Microsoft, and Oracle placing orders by the tens.

OpenAI, Meta, and X are also available. Nvidia's previous generation Hopper H100 has also been selling well. Meta has been buying enterprise models in large numbers for some time. With proposed targets of 350,000 GPUs purchased by the end this year, it's estimated that $7 billion worth of older silicon will be purchased.

The semiconductor market is booming, and AI demand for high-end chip seems to be driving it to new heights. These latest revenue figures, while not lasting forever, show that some people are in a great position to be in the semiconductor business.