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On July 28, 2026, the global semiconductor market witnessed multiple signals: DRAM prices continued to rise, new developments in the US CHIPS Act drew industry attention, and demand for new energy vehicle chips remained strong. Tairui Global Research Institute synthesizes the latest information to interpret key trends in the current semiconductor market.
1. DRAM Market Recovery: Prices Rise for Two Consecutive Quarters
According to the latest data from market research firm TrendForce, DRAM chip prices rose 8%-12% quarter-on-quarter in Q2 2026, marking two consecutive quarters of increase. This trend is mainly driven by demand from data centers, AI servers, and high-end smartphones. Quarterly earnings reports from Samsung Electronics and SK Hynix showed revenue growth of 15% and 18% in their memory businesses, exceeding market expectations. Industry insiders point out that as HBM (high-bandwidth memory) capacity is prioritized for AI chips, traditional DRAM supply is constrained, and prices are expected to continue rising in the second half of the year.
2. US CHIPS Act New Rules: Restrictions and Subsidies Escalate Simultaneously
On July 27, the US Department of Commerce announced expanded export restrictions on semiconductor equipment to China, adding license requirements for key equipment for sub-14nm processes. At the same time, under the third round of the CHIPS and Science Act subsidies, Intel and TSMC received $8.6 billion and $12 billion respectively to build advanced packaging plants in Arizona and Ohio. This policy dynamic has intensified regional fragmentation of the global semiconductor supply chain, with Southeast Asia and India becoming hotspots for relocation. According to data from the Thailand Board of Investment (BOI), semiconductor-related investment applications surged 45% year-on-year in the first half of 2026, with multiple packaging and testing companies planning to set up factories in Rayong Province.
3. New Energy Vehicle Chip Demand Continues Strong
According to the latest data from the China Association of Automobile Manufacturers, new energy vehicle production reached 5.28 million units in the first half of 2026, up 32% year-on-year. Demand for power semiconductors (IGBT, SiC) and intelligent driving chips was particularly strong. Orders for automotive-grade chips from Infineon, ON Semiconductor, and other companies are already booked through Q1 2027. German automotive parts giant Bosch announced it will invest €3 billion to build a SiC chip factory in Malaysia, with production expected to start in 2028. Industry insiders note that although consumer electronics chip demand is weak, the high prosperity of automotive and industrial chips supports stable growth of the overall semiconductor market.
4. Geopolitical Risks and Investment Strategies
The current semiconductor market is influenced by multiple factors: on one hand, AI computing demand drives advanced process and memory chips up; on the other hand, escalating US-China tech rivalry brings uncertainty to the supply chain. Investors should pay attention to the following points:
- Short-term opportunities: Focus on the price cycle of memory chips (DRAM/NAND); related stocks such as Samsung, SK Hynix, and Micron Technology are expected to benefit.
- Long-term positioning: Focus on opportunities for domestic substitution of semiconductor equipment and materials, especially companies like NAURA Technology Group and AMEC.
- Regional allocation: Beneficiaries of the semiconductor supply chain shift to Southeast Asia, such as Thai packaging and testing company Hana Microelectronics and Malaysia's Inari Amertron.
5. Industry Outlook
Looking ahead to the second half of 2026, the global semiconductor market is expected to grow 12% year-on-year to $680 billion. AI chips, automotive chips, and industrial MCUs will be the main growth engines. Meanwhile, countries are increasing local semiconductor capacity construction, with frequent subsidy policies and continued high industry capital expenditure. For investors, focusing on technological breakthroughs and supply chain security remains the core logic.
Tairui Global Research Institute will continue to track semiconductor market dynamics, providing professional market analysis and investment advice. For more industry data and individual stock research reports, please follow our updates.
