The AI Chip Market is set to grow from USD 123.16 billion in 2024 to USD 311.58 billion by 2029, achieving a CAGR of 20.4%. The market is being driven by the rise in AI applications across various sectors, including healthcare, retail, and e-commerce.

NLP Technologies Fueling Market Growth

Natural language processing is anticipated to be a major growth area in the AI chip market. The increased use of NLP in virtual assistants and language translation services is creating high demand for powerful AI chips.

Memory Segment to Lead Growth

AI-driven data processing requires advanced memory solutions, such as HBM and DDR5, to manage large datasets efficiently. New DRAM technologies, like Micron’s 32GB server DRAM, are expected to support this demand.

AI Chips Transforming Healthcare

AI chips are revolutionizing healthcare by enabling faster, more accurate diagnostics and personalized treatments. The collaboration between Cerebras and Mayo Clinic demonstrates the growing use of AI chips in medical applications.

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North America to Lead in AI Chip Adoption

North America is poised for significant growth in the AI chip market, with companies like NVIDIA, Google, and Intel driving innovation through strategic partnerships and investments in advanced technologies.