Gartner upgrades Nvidia, drops Infineon
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Market analyst Gartner has significantly up-rated its estimates of Nvidia’s chip sales for the last two years in its most recent ranking of global chip companies by revenue.
Gartner has also down-rated Infineon’s revenue, and as a consequence Europe is no longer represented in Gartner’s global top-ten ranking of chip companies.
In Gartner’s “final” estimate of 2024 semiconductor revenue the analyst has raised Nvidia up by US$30 billion compared with the preliminary results provided only two months before in February 2025. The significant uplift makes Nvidia Gartner’s the top chip company ranked by revenue by a wide margin.
In the preliminary semiconductor revenue report Gartner had a very different idea of Nvidia’s significance in both 2024 and 2023.
Gartner is bullish on AI, sees 12.6% chip market growth in 2025
In the February preliminary results Gartner said Nvidia’s sales grew by 83.6 percent from about US$25 billion in 2023 to about US$46 billion in 2024. That took the company from fifth-ranked in 2023 to third-ranked in 2024. Now Gartner reckons Nvidia’s sales grew by 120.1 percent from US$34.8 billion in 2023 to US$76.7 billion in 2024.
This massive re-write of history adds US$9 billion to Nvidia’s chip sales in 2023 and more than US$30 billion in 2024.
It also brings Gartner into line with other analysts who have ranked Nvidia as the chip market leader for some time. Gartner’s difference of opinion with other analysts was reported on in 2024 (see Gartner differs from other analysts over Nvidia).
Gartner now considers that worldwide semiconductor revenue totalled US$655.9 billion in 2024 up 21 percent from US$542.1 billion in 2023.
Top 10 semiconductor vendors ranked by worldwide revenue in 2024 (billions of US dollars). Source: Gartner.
“The position shift among the top ten semiconductor vendor revenue ranking is due to large demand for AI infrastructure buildout and an increase of 73.4 percent in memory revenue,” said Gaurav Gupta, an analyst at Gartner, in a statement.
In the statement Gartner did not address why it made changes to figures for 2023. eeNews Europe approached Gartner for a more detailed explanation of the changes.
One consequence of a downgrading of Infineon’s estimated sales for 2024 is that it has dropped out of the top ten with the tenth position now occupied by MediaTek. Europe now has no chip vendor in the world’s top ten.
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