Morgan Stanley said in its latest Greater China semiconductor report, released on July 31, that AI semiconductors are still in a strong upcycle and that demand is no longer limited to GPUs alone. The bank said the current wave is spreading across advanced process nodes, advanced packaging, memory, testing equipment, ASICs, and China’s AI chip supply chain.
The report also laid out an aggressive market forecast. Morgan Stanley said the cloud AI semiconductor market could reach $485 billion in 2026 and expand to about $753 billion by 2030. Over the same period, it projected the global semiconductor market could grow to $1.5 trillion by 2030, implying that AI semiconductors would account for nearly half of the total market.
Using its own cloud capex tracking model, Morgan Stanley estimated that cloud capital spending by the world’s top 14 listed cloud service providers could approach $1.3 trillion in 2027. The bank added that this figure does not include sovereign AI projects.
BlockBeats reported on Aug. 1 that Morgan Stanley, in its latest Greater China semiconductor report published on July 31, said AI semiconductors remain in a strong upcycle. The firm said the current rally is no longer driven only by GPU demand and is now extending to advanced process technologies, advanced packaging, memory, testing equipment, ASICs, and China’s AI chip supply chain.
Morgan Stanley lays out an aggressive AI semiconductor forecast
In the report, Morgan Stanley said the cloud AI semiconductor market could reach $485 billion in 2026 and expand further to about $753 billion by 2030.
The bank also projected that the global semiconductor market could grow to $1.5 trillion by 2030. On that basis, AI semiconductors would account for nearly half of the total market size.
Cloud capex could approach $1.3 trillion in 2027
Based on its own cloud capex tracking model, Morgan Stanley estimated that cloud capital spending by the world’s top 14 listed cloud service providers could approach $1.3 trillion in 2027.
The report added that the estimate does not include sovereign AI projects.
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