Asia Tech Wire (Sep 20) -- Total semiconductor revenues reached a record high of $162.1 billion in the second quarter of 2024, with a quarterly growth rate of 6.7%, Omdia noted in a new report.

This figure is approximately $500 million higher than the previous record set in the fourth quarter of 2021.

Omdia said this record growth was largely driven by Nvidia, the industry's top revenue generator, whose quarterly semiconductor revenues are now $18 billion higher than in the fourth quarter of 2021.

The report notes that while the second quarter of 2024 set a new revenue record, not all companies benefited.

While semiconductor market revenues were $33 billion higher than a year ago, more than 50% of the companies surveyed saw their semiconductor revenues decline from the same period last year.