Key takeaways: SEMICON West 2026, North America’s largest semiconductor trade show, opened on October 13 at the Moscone Center in San Francisco. More than 500 speakers will take part in over 60 sessions through October 15.
At the opening ceremony, Joe Stockunas, president of SEMI Americas, announced that global semiconductor sales had surpassed $1 trillion four years ahead of schedule.
In his keynote, Ajit Manocha, SEMI’s president and CEO, recalled that when he proposed a $1 trillion target for 2030 after taking office in 2017, some people dismissed it as unrealistic. He raised his forecast, saying the industry had already reached $1 trillion and could grow to $2 trillion–$3 trillion by 2035.
North America’s largest annual semiconductor trade show, SEMICON West 2026, opened on October 13 at the Moscone Center in San Francisco.
At the opening ceremony, the Semiconductor Equipment and Materials International (SEMI) trade association officially announced that global semiconductor sales had topped $1 trillion, four years earlier than originally projected. The three-day event runs through October 15, with more than 500 speakers participating in over 60 sessions.
“Nearly fourfold growth in seven years—unprecedented”
Joe Stockunas, SEMI Americas president, delivered the opening remarks, announcing that the industry had crossed the $1 trillion mark ahead of schedule and inviting attendees to raise a celebratory toast.
“An industry that first surpassed $400 billion in global sales in 2019 has grown nearly fourfold in just seven years, based on projections for year-end 2026. That is unprecedented in the history of any industry,” Stockunas said. “The exhibition floor is sold out, and we expect between 35,000 and 40,000 visitors over the next three days.”
SEMICON West has long been held in San Francisco. Last year, it took place in Phoenix, Arizona, for the first time. This year, it returned to San Francisco.
Manocha: “$2 trillion–$3 trillion by 2035”
In his keynote address, Ajit Manocha, SEMI president and CEO, raised his forecast for the industry.
“When I took office in 2017 and stood on this stage to set a target of reaching $1 trillion by 2030, some people thought it was absurd. Our projections were all wrong,” Manocha said. “We have already reached $1 trillion, and by 2035 the industry could grow to $2 trillion–$3 trillion.”
“In my 46 years in this industry, I have never seen a golden age like this. This is only the beginning,” Manocha said. “Three waves—AI, IoT and quantum computing—are creating a miracle.” He cited technological inflection points such as silicon photonics, advanced packaging and quantum computing as drivers of growth.
Manocha also pointed to risks. “A total of 102 new fabs are expected to come online by 2029, and data center expansion is continuing. At the same time, the world is becoming fragmented by geopolitical tensions, an energy crisis, labor shortages, tariffs and regulations,” he said. “No single company or country can solve these challenges alone. Resilience among industry leaders and unprecedented global cooperation are needed.”
Of the 102 new fabs, 82 are already under construction: 78 in Asia, 15 to 16 in the Americas, and nine in Europe.
Mayor Lurie: “Half of U.S. venture capital investment is going to San Francisco”
San Francisco Mayor Daniel Lurie also took the stage. “San Francisco is a city making a comeback,” he said. “Crime fell 30% last year and has dropped another 20% this year, while the number of people experiencing homelessness is at its lowest level in 15 years. The energy on the ground has changed completely.”
“You should focus not just on Silicon Valley, but on the city of San Francisco itself,” Lurie said. “This year, $260 billion—51% of all U.S. venture capital investment—has flowed into San Francisco alone.”
“SEMICON West brings together global leaders investing in emerging technologies that will shape the future,” he said. “San Francisco wants your business, and we hope you will help design the future here.”
CHIPS Act, advanced packaging and HBM
This year’s event will focus on the U.S. Department of Commerce’s implementation of the CHIPS Act, advanced packaging, AI chip design automation and strategies for next-generation memory, including high-bandwidth memory (HBM).
Speakers at the three-day CEO Summit will include Synopsys CEO Sassine Ghazi; AMD’s Justin Meirill; Micron’s Scott Gatzmeier; Nvidia’s Timothy Costa; and Intel executive Lalitha Immaneni. Government and research speakers include Bill Fahrenkopf, director of semiconductor investment and innovation at the Department of Commerce; State Department official Jacob Helberg; and National Science Foundation official Erwin Gianchandani.
On the first day, Commerce Department official Fahrenkopf discussed $10 billion in CHIPS Act research and development incentives during a conversation. A separate Advanced Packaging and Heterogeneous Integration (APHI) Summit is also being held.