BOFA raises semiconductor growth outlook to 18% by 2030 Bank of America now expects the semiconductor industry to grow at a compound annual growth rate (CAGR) of 18% from 2026 to 2030, up from the previous forecast of 14%, driven primarily by strong demand for memory and data centers. BofA now projects the semiconductor market to reach $3.2 trillion by 2030, higher than the previous estimate of $2.7 trillion. The industry is currently valued at around $1.7 trillion, meaning BofA expects it to nearly double within four years. Wafer manufacturing equipment estimates have also been revised upward: 2026: $156 billion, up 33% YoY 2027: $210 billion, up 34% YoY 2030: $360 billion DRAM equipment spending alone is expected to hit $61 billion in 2026 and $85 billion in 2027. BofA highlights that sustained strong AI and data center orders, capacity commitments, and increased memory investments are key drivers. Nvidia B200 GPU rental prices remain firm at around $5.72/hour, less than 10% below their March peak.