Memory Now Accounts for 50% of Global Semiconductor Revenue — But There’s a Catch

Investing Memory Now Accounts for 50% of Global Semiconductor Revenue — But There’s a Catch AI has transformed memory from a boom-and-bust commodity into critical infrastructure, sending forecasts to levels that would have seemed absurd a few years ago. But a ghost from 2018 is lurking in the data, and it raises an uncomfortable question… By Rich Duprey Published August 29, 2026, 12:06pm ET · 3 min read 𝕏 f ⧉ Quick Read Memory is projected to capture 54% of the $1.56 trillion semiconductor market in 2026, nearly doubling its 27% share from 2025. Nvidia doubled its memory supply commitments to $279 billion in a single quarter, spreading obligations across fiscal years 2027 through 2029. AI has extended the memory cycle rather than ended it, as demonstrated by the 47% DRAM price collapse in 2019 that cratered revenue 31% without any demand drop. Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Micron Technology didn't make the cut.