Global semiconductor revenue surpassed $425bn in the second quarter of 2026, marking a 31.4% quarter-over-quarter increase, according to research from Omdia, part of Informa TechTarget (NASDAQ: TTGT).

The sequential growth rate exceeded the previous record of 29.2% set in the first quarter of 2026. Omdia noted that since it began tracking the semiconductor market in the first quarter of 2002, only 10 of 97 quarters have recorded sequential revenue growth above 10%. The last four consecutive quarters, beginning in the third quarter of 2025, each recorded double-digit sequential growth.

Memory chips accounted for more than half of all semiconductor revenue in the quarter. DRAM, NAND, and NOR chips each recorded their highest sequential growth for a second quarter since Omdia began tracking the market, with all three reaching record quarterly revenue levels in the period. AI demand and rising memory average selling prices were cited as primary drivers.

Excluding memory, the broader semiconductor market grew more than 10% quarter-over-quarter, compared to a typical second-quarter sequential growth rate of just over 3% based on Omdia data from 2002 through 2025. Microprocessor revenue grew 16% quarter-over-quarter, against a seasonal growth rate of approximately 1%.

Total semiconductor revenue for the first half of 2026 reached $752bn, which Omdia said already exceeds full-year revenue recorded in every prior year except 2025. Omdia forecasts third-quarter 2026 semiconductor revenue will surpass $500bn, which would bring cumulative revenue for the first three quarters of 2026 above $1.25tn.