Accessible version US Semiconductors AI 2030: Stronger for longer for compute, memory, networking Price Objective Change AI data center TAM now ~$1. 7Tn by CY30, +4 5% CAGR In-line with our view of stronger AI infra capex outlook (see Q1 cloud capex takeaways), we update our CY30 AI data center systems TAM outlook to ~$1. 7Tn AI DC vs. ~$1.4Tn prior. Despite ongoing concerns around capex sustainability and the ability to fund them, we believe : 1) 2026 will continue to be a year of accelerating AI sales and ...