Intel drops to rank third amongst chip firms in 1Q24

Intel drops to rank third amongst chip firms in 1Q24

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By Peter Clarke

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Intel Corp. – for decades the leading chip maker and chip vendor – has been ranked third by revenue in 1Q24, by Counterpoint Research.

In 1Q24 Samsung took the top spot thanks to returning demand for memory chips, especially for DDR5 used in datacenters for generative AI configurations.

Nvidia was ranked second by Counterpoint, after recording another quarter of phenomenal revenue growth (see Nvidia continues to quadruple sales year-on-year). Nvidia’s success is based on its dominance of the GPU-for-AI chip market and the spread of generative AI driving a sales boom in the data center segment.

Counterpoint observes that Intel reported a 14 percent quarter-to-quarter decline in 1Q24 due to soft demand at Intel foundry, Altera and Mobileye.

SK Hynix and Micron benefitted from the memory market while Qualcomm and Broadcom performed more like Intel and suffered single-digit percentage declines due to weak performance in key businesses, said Counterpoint.

Related links and articles:

News articles:

Nvidia continues to quadruple sales year-on-year

Analyst drops chip market forecast after 1Q24 ‘train wreck’

DRAM prices set to climb 20 percent in 1Q24

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