TrendForce's latest investigations reveal that 1Q25 revenue for the global IC design industry reached US$77.4 billion, marking a 6% QoQ increase and setting a new record high. This growth was fueled by early stocking ahead of new U.S. tariffs on electronics and the ongoing construction of AI data centers around the world, which sustained strong chip demand despite the traditional off-season.

NVIDIA remained the top-ranking IC design company, with Q1 revenue surging to $42.3 billion—up 12% QoQ and 72% YoY—thanks to increasing shipments of its new Blackwell platform. Although its H20 chip is constrained by updated U.S. export controls and is expected to incur losses in Q2, the higher-margin Blackwell is poised to replace the Hopper platform gradually, cushioning the financial impact.

TrendForce's latest investigations find that the global foundry industry recorded 1Q25 revenue of US$36.4 billion—a 5.4% QoQ decline. The downturn was softened by last-minute rush orders from clients ahead of the U.S. reciprocal tariff exemption deadline, as well as continued momentum from China's 2024 consumer subsidy program. These factors help offset the typical seasonal slump.

Looking ahead to Q2, the effects of tariff-driven early procurement are expected to fade and lead to a general slowdown. However, continued demand from China's subsidy program, along with pre-launch inventory builds for new smartphone models and stable AI HPC demand, are expected to support capacity utilization and drive a revenue rebound for the top 10 foundries.

TrendForce's latest findings reveal that global revenue for the DRAM industry reached US$27.01 billion in 1Q25, marking a 5.5% QoQ decline. This downturn was driven by falling contract prices for conventional DRAM and a contraction in HBM shipment volumes. Samsung's redesign of its HBM3e products eased the HBM production squeezes. This prompted downstream players to clear inventories and extended the price declines seen since 4Q24.

Looking ahead to 2Q25, as PC OEMs and smartphone makers complete inventory corrections and ramp up system production ahead of the 90-day U.S. reciprocal tariff grace period, bit procurement momentum is expected to strengthen significantly. This will drive notable increases in supplier shipment volumes. On the pricing side, TrendForce forecasts a rebound across major application contract prices, with both conventional DRAM and combined DRAM (including HBM) contract prices expected to rise.

Retro enthusiasts will be pleased to know that the legendary brand Atari is doing well and remains strong, as the company has announced preliminary revenue of approximately $36 million for fiscal year 2025, an increase of 60% from the previous year that marked the company's highest revenue level in over a decade. This was mainly due to the Games Division which generated about $29 million in revenue. Atari implemented in 2022 a retro-centered strategy which now seems to be starting to pay off. The company released several titles including remakes of classic games such as Yars Rising and Breakout Beyond. The beloved Roller Coaster Tycoon franchise is now available on new platforms including Nintendo Switch. Atari also made some interesting acquisitions. Through Digital Eclipse, they've released titles such as the playable documentary Tetris Forever, while also releasing Wizardry: Proving Grounds of the Mad Overlord, Volgarr the Viking II, two DLCs for Atari 50: The Anniversary Celebration, and Mighty Morphin Power Rangers: Rita's Rewind. Meanwhile, the Nightdive Studios contributed with successful releases such as PO'ed, Killing Time, and The Thing: Remastered.

In the hardware area, Atari launched the Atari 7800+ retro console with 10 new game cartridges, continuing its cartridge-based platform expansion. In the future Atari plans to launch new hardware projects to expand the Atari "Plus" platform. The company also secured new partnerships, including collaboration with Netflix for mobile and cloud gaming distribution. Recent acquisitions include the Intellivision brand and game catalog, plus publishing rights for several modern indie titles under the relaunched Infogrames label. So for those retro-nostalgic gamers and Atari fans, there's at least a shiny pixelated light, as Wade Rosen, Chairman and Chief Executive Officer, believes that the best is yet to come: "By focusing on areas where we have both a passion for the product and a competitive edge, we are building solid momentum which I believe will lead to lasting success in the years to come."

Dell Technologies (NYSE: DELL) announces financial results for its fiscal 2026 first quarter. The company also provides guidance for its fiscal 2026-second quarter and full year.

First-Quarter Summary

• First-quarter revenue of $23.4 billion, up 5% year over year
• First-quarter operating income of $1.2 billion, up 21% year over year, and non-GAAP operating income of $1.7 billion, up 10%
• First-quarter diluted EPS of $1.37, flat year over year, and non-GAAP diluted EPS of $1.55, up 17%

NVIDIA today reported revenue for the first quarter ended April 27, 2025, of $44.1 billion, up 12% from the previous quarter and up 69% from a year ago.

On April 9, 2025, NVIDIA was informed by the U.S. government that a license is required for exports of its H20 products into the China market. As a result of these new requirements, NVIDIA incurred a $4.5 billion charge in the first quarter of fiscal 2026 associated with H20 excess inventory and purchase obligations as the demand for H20 diminished. Sales of H20 products were $4.6 billion for the first quarter of fiscal 2026 prior to the new export licensing requirements. NVIDIA was unable to ship an additional $2.5 billion of H20 revenue in the first quarter.

Lenovo Group Limited, together with its subsidiaries ('the Group'), today announced Q4 and full year results for the fiscal year 2024/25, reporting significant increases in overall group revenue and profit. For the full year, revenue grew 21% year-on-year to US$69.1 billion, marking the Group's second-highest annual revenue in its history. Net income was up 36% year-on-year to US$1.4 billion on a non-Hong Kong Financial Reporting Standards (non-HKFRS) basis. The Group's diversified growth engines continue to accelerate, with non-PC revenue mix up nearly five points year-on-year to 47%. All business groups were healthy and strong and met their strategic intent and financial goals, and all sales geographies gained double-digit revenue growth year-on-year, reflecting the strength of the Group's diversified businesses and resilient global footprint.

The results were not only driven by the Group's focus on executing a clear strategy, but also its end-to-end integrated global operations (design, demand forecasting, procurement, manufacturing, marketing, sales, and services), ODM+ manufacturing model, and global resources/local delivery model. Over the past 20 years of operating a global business, Lenovo has established a manufacturing footprint that boasts 30+ manufacturing sites (either in-house or outsourced) in 11 different markets around the world. The combination of these gives the Group maximum flexibility and resilience to navigate through uncertainties and be more adaptive to the market conditions.

AI is creating value for everyone—from researchers in drug discovery to quantitative analysts navigating financial market changes. The faster an AI system can produce tokens, a unit of data used to string together outputs, the greater its impact. That's why AI factories are key, providing the most efficient path from "time to first token" to "time to first value." AI factories are redefining the economics of modern infrastructure. They produce intelligence by transforming data into valuable outputs—whether tokens, predictions, images, proteins or other forms—at massive scale.

They help enhance three key aspects of the AI journey—data ingestion, model training and high-volume inference. AI factories are being built to generate tokens faster and more accurately, using three critical technology stacks: AI models, accelerated computing infrastructure and enterprise-grade software. Read on to learn how AI factories are helping enterprises and organizations around the world convert the most valuable digital commodity—data—into revenue potential.

Turtle Beach Corporation (Nasdaq: TBCH), a leading gaming accessories brand, today reported strong financial results, including growth in revenue, Adjusted EBITDA, and gross margins in the first quarter ended March 31, 2025.

First Quarter Highlights

• Net revenue was $63.9 million, an increase of 14% compared to the prior year period.
• Gross margin improved approximately 470 basis points to 36.6% compared to 31.8% in the prior year.
• Net loss was $(0.7) million or ($0.03) per diluted share compared to net income of $0.2 million or $0.01 per diluted share in the prior year period.
• Adjusted EBITDA was $4.1 million, compared to $1.4 million in the prior year period.
• Generated $40.5 million in cash flow from operations, the highest level since 2019.
• Authorized a new $75 million stock repurchase program.

GLOBALFOUNDRIES Inc. (GF) today announced preliminary financial results for the first quarter ended March 31, 2025.

Key First Quarter Financial Highlights

• Revenue of $1.585 billion
• Gross margin of 22.4% and Non-IFRS gross margin of 23.9%
• Operating margin of 9.5% and Non-IFRS operating margin of 13.4%
• Net income of $211 million and Non-IFRS net income of $189 million
• Diluted earnings per share of $0.38 and Non-IFRS diluted earnings per share of $0.34

Microsoft Corp. today announced the following results for the quarter ended March 31, 2025, as compared to the corresponding period of last fiscal year:

• Revenue was $70.1 billion and increased 13% (up 15% in constant currency)
• Operating income was $32.0 billion and increased 16% (up 19% in constant currency)
• Net income was $25.8 billion and increased 18% (up 19% in constant currency)
• Diluted earnings per share was $3.46 and increased 18% (up 19% in constant currency)

"Cloud and AI are the essential inputs for every business to expand output, reduce costs, and accelerate growth," said Satya Nadella, chairman and chief executive officer of Microsoft. "From AI infra and platforms to apps, we are innovating across the stack to deliver for our customers."

Seagate Technology Holdings plc (the "Company" or "Seagate"), a leading innovator of mass-capacity data storage, today reported financial results for its fiscal third quarter ended March 28, 2025.

"Seagate delivered another solid quarter of profitable year-on-year growth and margin expansion, elevating our non-GAAP EPS to the top of our guidance range. Our performance underscores the structural enhancements we've made to our business model and healthy supply/demand environment for mass capacity storage," said Dave Mosley, Seagate's chief executive officer. "We remain focused on executing our HAMR product ramp to support ongoing cloud customer demand. While we navigate the current dynamic macroeconomic environment, we are confident that our technology leadership, resilient financial model and solid industry fundamentals will drive profitable growth through 2025 and beyond," Mosley concluded.

Samsung Electronics today reported financial results for the first quarter ended March 31, 2025. The Company posted KRW 79.14 trillion in consolidated revenue, an all-time quarterly high, on the back of strong sales of flagship Galaxy S25 smartphones and high-value-added products. Operating profit increased to KRW 6.7 trillion despite headwinds for the DS Division, which experienced a decrease in quarterly revenue.

The Company has allocated its highest-ever annual R&D expenditure for 2024, and in the first quarter of this year, it has also increased its R&D expenditure by 16% compared to the same period last year, amounting to 9 trillion won. Despite the growing macroeconomic uncertainties due to recent global trade tensions and slowing global economic growth, making it difficult to predict future performance, the Company will continue to make various efforts to secure growth. Additionally, assuming that the uncertainties are diminished, it expects its performance to improve in the second half of the year.

Global semiconductor materials market revenue increased 3.8% to $67.5 billion in 2024, SEMI, the global industry association representing the electronics design and manufacturing supply chain, reported today in its Materials Market Data Subscription (MMDS). The recovery of the overall semiconductor market as well as the increasing demand for advanced materials for high-performance compute and high-bandwidth memory manufacturing supported 2024 materials revenue growth.

Wafer fabrication materials revenue increased 3.3% to $42.9 billion in 2024, while packaging materials revenue grew 4.7% to $24.6 billion last year. The chemical mechanical planarization (CMP), photoresist, and photoresist ancillaries segments experienced strong double-digit growth driven by increased complexity and number of processing steps required for advanced DRAM, 3D NAND flash and leading-edge logic integrated circuits (ICs). All semiconductor materials segments, except for silicon and silicon-on-insulator (SOI), registered year-on-year increases. The demand for silicon, particularly in the trailing edge segment, remained weak in 2024 as the industry continued to work through excess inventory, resulting in a 7.1% decline in silicon revenue in 2024.

LG Display today reported unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending March 31, 2025.

• Revenues in the first quarter of 2025 decreased by 23% to KRW 6,065 billion from KRW 7,833 billion in the fourth quarter of 2024 and increased by 15% from KRW 5,253 billion in the first quarter of 2024.
• Operating profit in the first quarter of 2025 recorded KRW 33.5 billion. This compares with the operating profit of KRW 83.1 billion in the fourth quarter of 2024 and with the operating loss of KRW 469 billion in the first quarter of 2024.
• EBITDA profit in the first quarter of 2025 was KRW 1,231 billion, compared with EBITDA profit of KRW 1,306 billion in the fourth quarter of 2024 and with EBITDA profit of KRW 810 billion in the first quarter of 2024.
• Net loss in the first quarter of 2025 was KRW 237 billion, compared with the net loss of 839 billion in the fourth quarter of 2024 and with the net loss of KRW 761 billion in the first quarter of 2024.

LG Display recorded KRW 6.065 trillion in revenues and KRW 33.5 billion in operating profit in the first quarter of 2025.

LG Electronics Inc. (LG) today announced consolidated revenue of KRW 22.74 trillion and operating profit of KRW 1.26 trillion for the first quarter of 2025. This marks the highest first-quarter revenue in the company's history and the sixth consecutive year in which operating profit surpassed KRW 1 trillion during the first quarter. Strong performance was driven by qualitative growth across key business areas, especially in B2B, non-hardware segments (such as subscriptions and webOS platform) and direct-to-consumer (D2C) sales.

Vehicle solutions and heating, ventilation and air conditioning (HVAC) - both critical to LG's B2B strategy and future growth - delivered record-breaking quarterly revenue and operating profit. Combined operating profit from the Vehicle Solution Company and Eco Solution Company increased 37.2 percent year-over-year, with revenue climbing 12.3 percent.

TSMC, today announced consolidated revenue of NT$839.25 billion, net income of NT$361.56 billion, and diluted earnings per share of NT$13.94 (US$2.12 per ADR unit) for the first quarter ended March 31, 2025.

Year-over-year, first quarter revenue increased 41.6%, while net income and diluted EPS increased 60.3% and 60.4% respectively. Compared to fourth quarter 2024, first quarter results represented a 3.4% decrease in revenue and a 3.5% decrease in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.

Micron Technology, Inc. (Nasdaq: MU) today announced results for its second quarter of fiscal 2025, which ended February 27, 2025.

Fiscal Q2 2025 highlights

• Revenue of $8.05 billion versus $8.71 billion for the prior quarter and $5.82 billion for the same period last year
• GAAP net income of $1.58 billion, or $1.41 per diluted share
• Non-GAAP net income of $1.78 billion, or $1.56 per diluted share
• Operating cash flow of $3.94 billion versus $3.24 billion for the prior quarter and $1.22 billion for the same period last year

"Micron delivered fiscal Q2 EPS above guidance and data center revenue tripled from a year ago," said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology. "We are extending our technology leadership with the launch of our 1-gamma DRAM node. We expect record quarterly revenue in fiscal Q3, with DRAM and NAND demand growth in both data center and consumer-oriented markets, and we are on track for record revenue and significantly improved profitability in fiscal 2025."

TrendForce's latest research reveals that the global foundry industry exhibited a polarized trend in 4Q24. Advanced process nodes benefited from strong demand in AI servers, flagship smartphone application processors (APs), and new PC platforms, driving high-value wafer shipments. This growth helped offset the slowdown in mature process demand, allowing the top 10 foundries to achieve nearly 10% QoQ revenue growth, reaching US$38.48 billion, and marking another industry record.

TrendForce notes that new U.S. trade tariffs under the Trump administration have started affecting the foundry industry. A surge in recent orders for TVs, PCs, and notebooks bound for the U.S. in 4Q24 is expected to extend into 1Q25. Additionally, China's consumer subsidy program—introduced in late 2024—has spurred early inventory restocking among upstream customers. Combined with persistent demand for TSMC's AI-related chips and advanced packaging, these factors suggest that despite Q1 being a seasonally weak quarter, foundry revenue will only decline slightly.

TrendForce's latest research reveals that global DRAM industry revenue surpassed US$28 billion in 4Q24, marking a 9.9% QoQ increase. This growth was primarily driven by rising contract prices for server DDR5 and concentrated shipments of HBM, leading to continued revenue expansion for the top three DRAM suppliers.

Most contract prices across applications were seen to have reversed downward. However, increased procurement of high-capacity server DDR5 by major American CSPs helped sustain price momentum for server DRAM.

NVIDIA today reported revenue for the fourth quarter ended January 26, 2025, of $39.3 billion, up 12% from the previous quarter and up 78% from a year ago.

For the quarter, GAAP earnings per diluted share was $0.89, up 14% from the previous quarter and up 82% from a year ago. Non-GAAP earnings per diluted share was $0.89, up 10% from the previous quarter and up 71% from a year ago.

Lenovo Group Limited (HKSE: 992) (ADR: LNVGY), together with its subsidiaries ('the Group'), today announced Q3 results for fiscal year 2024/25, reporting significant increases in overall group revenue and profit. Revenue grew 20% year-on-year to US$18.8 billion, marking the third consecutive quarter of double-digit growth. Net income more than doubled year-on-year to US$693 million (including a non-recurring income tax credit of US$282 million) on a Hong Kong Financial Reporting Standards (HKFRS) basis. The Group's diversified growth engines continue to accelerate, with non-PC revenue mix up more than four points year-on-year to 46%. The quarter's results were driven by the Group's focused hybrid-AI strategy, the turnaround of the Infrastructure Solutions Group, as well as double-digit growth for both the Intelligent Devices Group and Solutions and Services Group.

Lenovo continues to invest in R&D, with R&D expenses up nearly 14% year-on-year to US$621 million. At the recent global technology event CES 2025, Lenovo launched a series of innovative products, including the world's first rollable AI laptop, the world's first handheld gaming device that allows gamers free choice of Windows OS or Steam OS, as well as Moto AI - winning 185 industry awards for its portfolio of innovation.

The Semiconductor Industry Association (SIA) today announced global semiconductor sales hit $627.6 billion in 2024, an increase of 19.1% compared to the 2023 total of $526.8 billion. Additionally, fourth-quarter sales of $170.9 billion were 17.1% more than the fourth quarter of 2023, and 3.0% higher than the third quarter of 2024. And global sales for the month of December 2024 were $57.0 billion, a decrease of 1.2% compared to the November 2024 total. Monthly sales are compiled by the World Semiconductor Trade Statistics (WSTS) organization and represent a three-month moving average. SIA represents 99% of the U.S. semiconductor industry by revenue and nearly two-thirds of non-U.S. chip firms.

"The global semiconductor market experienced its highest-ever sales year in 2024, topping $600 billion in annual sales for the first time, and double-digit market growth is projected for 2025," said John Neuffer, SIA president and CEO. "Semiconductors enable virtually all modern technologies - including medical devices, communications, defense applications, AI, advanced transportation, and countless others - and the long-term industry outlook is incredibly strong."

Apple is off to a great start in 2025, thanks to a record-breaking fourth quarter. Net revenue soared to a whopping $124.3 billion - the highest ever for the Cupertino giant - with iPhones driving 55.6% of revenue. Macs and iPads, as usual, appear to be a drop in the bucket compared to iPhones, with $8.98 and $8.088 billion in net sales respectively. Services witnessed commendable growth, adding $26.34 billion to Apple's pile.

Of course, this does not mean that the grass is all green for the company. Apple Intelligence witnessed a tumultuous launch, suffering from multiple setbacks and lukewarm reviews. Tim Cook does believe that there is still a lot of innovation on the table for the iPhone, which he revealed in a recent interview. Considering that the company is widely rumored to be preparing a major redesign for the iPhone, along with a brand-new Air/Slim variant, it does appear that this year will turn out to be quite an interesting one for iPhone enthusiasts.

Microsoft Corp. today announced the following results for the quarter ended December 31, 2024, as compared to the corresponding period of last fiscal year:

• Revenue was $69.6 billion and increased 12%
• Operating income was $31.7 billion and increased 17% (up 16% in constant currency)
• Net income was $24.1 billion and increased 10%
• Diluted earnings per share was $3.23 and increased 10%

"We are innovating across our tech stack and helping customers unlock the full ROI of AI to capture the massive opportunity ahead," said Satya Nadella, chairman and chief executive officer of Microsoft. "Already, our AI business has surpassed an annual revenue run rate of $13 billion, up 175% year-over-year."