SEMI Sees AI-Led Memory Equipment Boom Extending Through 2028

SEMI now projects total semiconductor manufacturing equipment sales to reach $165.9 billion in 2026, up 23.2% year over year, and then continue climbing to $229.5 billion by 2028. The group says the stronger outlook is being driven by AI infrastructure spending, which is pushing chipmakers to expand leading-edge logic, advanced memory, test and packaging capacity. For the memory market, the forecast is notable because it calls for a sharp rise in spending on DRAM and NAND tools. DRAM equipment sales are projected to climb to $38.8 billion in 2026 and reach $56.9 billion by 2028, supported by HBM demand and further node migration. NAND equipment spending is expected to reach $13.9 billion in 2026 and $20.8 billion in 2028 as suppliers move to higher-layer 3D NAND and denser designs. The report does not directly predict near-term memory contract prices, but it signals that suppliers are still committing large capital budgets to AI-linked memory supply and process transitions. That keeps the long-term supply picture constructive for advanced memory while also showing how central HBM and high-performance DRAM have become in industry investment plans.