Updated July 03, 2024

• Samsung overtakes NVIDIA with a 25.3% revenue share in Q1 2024.
• NVIDIA maintains a strong presence with a 22.1% market share despite relinquishing the top spot.
• The semiconductor industry continues to be driven by innovation in faster computing, powerful AI, and efficient electronics.

In today's global market, the demand for advanced technology is prompting leading semiconductor companies to innovate in areas like faster computers, powerful AI, and more efficient electronics. 

This keeps the Semiconductor industry in a perpetual state of change, driven by continuous innovation and market dynamics. Meanwhile, leaders within the industry are constantly vying for dominance and adapting their strategies accordingly. A recent report by Counterpoint highlights this intricate dance within the market during Q1 2024.

The quarter saw South Korean tech giant Samsung dethrone NVIDIA claiming the top spot with a commanding 25.3% revenue share. This impressive performance was on the back of the booming demand for its memory chips, particularly its latest DDR5 generation and storage solutions tailored for generative AI applications.

Samsung expects to make over $100 million from the sale of advanced chips

The company’s revenue stood at $196.77 billion in 2023, down from $233.13 billion in 2022, according to its financial reports.