US Semiconductors BofA Global Tech Conference Preview

This report previews the BofA Global Tech Conference, forecasting that the AI data center TAM will grow to over $1.7 trillion by 2030. It highlights key debates in memory supply, analog recovery, and the durability of the AI capex cycle.

Key Takeaways

• 1.AI data center TAM is expected to reach over $1.7Tn by 2030, with accelerators representing roughly $1.2Tn of that market.
• 2.Nvidia is projected to maintain a dominant share (65-70%) in the AI accelerator market, despite growing competition from ASIC and other vendors.
• 3.Memory pricing and HBM demand are structurally shifting, with HBM TAM forecast to grow to $168bn by 2030.

Table of Contents

• AI Data Center Analysis
• Memory Analysis
• Wafer Fab Equipment
• Analog/Diversified Analysis
• Global Semis Forecast Update
• 2026 Semis Industry Poster
• Glossary

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