For many years, Intel and Samsung Electronics competed for the title of the largest semiconductor supplier in terms of revenue, as cyclical fluctuations in the memory market regularly affected Samsung’s results. However, last year’s results saw Nvidia take the lead for the first time, increasing its revenue by an impressive 120 per cent.
As Gartner reported last week, in 2024 Nvidia accounted for 11.7% of total semiconductor industry revenue, which grew by 21% to $655.9bn. Samsung Electronics managed to retain second place with revenue of $66.8bn, while Intel lost its leadership position and was in third place, increasing revenue by only 0.8% to $49.8bn.
The rapid development of the artificial intelligence market had a positive impact not only on Nvidia’s results, but also on memory manufacturers as a whole: their total revenue grew by 73.4%. South Korea’s SK hynix rose from sixth to fourth place, demonstrating growth of 91.5% to $44.2bn. As previously reported, the company has become the largest supplier of DRAM memory due to high demand for HBM solutions.