Computer Electronics

AI chip revenue to hit $71 billion this year

30 May 2024
Source: Gartner

Driven by demand for generative artificial intelligence (AI) in data centers, global revenue from AI semiconductors is expected to grow by 33% in 2024 reaching $71 billion, according to new research from Gartner, Inc.

Specifically, revenue for AI accelerators used in servers — offloading data processing from microprocessors — will total $21 billion this year and increase to $33 billion by 2028, Gartner forecasts.

Global revenue from AI chips will continue to experience double-digit growth through the next five years.

AI PCs rising

AI PCs will require more power, but semiconductor vendors are already developing NPUs and GPUs capable of running these 40 to 80 tera operations per second (TOPS).

AI PCs will represent a seminal shift in how humans interact with technology where these computers can run AI functions locally and privately on their own computer with or without an internet connection.

AI PC shipments are forecast to reach 22% of total PC shipments this year and by the end of 2026, 100% of enterprise PC purchases will be an AI PC with a neural processing unit, Gartner said. This will allow these computers to run longer, quieter and cooler while having AI tasks running in the background.

AI chips revenue from computer electronics is projected to reach $33.4 billion in 2024, which will account for 47% of total AI semiconductor revenue. Automotive electronic and consumer electronics in 2024 will also represent high revenue at $7.1 billion and $1.8 billion, respectively.

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