Semiconductor Industry Cycle Evolution and Future Trends

This article analyzes the internal logic of the semiconductor industry from the 2020 chip shortage wave to the cyclical adjustment in 2025, exploring the reshaping effects of technology evolution, geopolitics, and supply chain restructuring on the industry landscape, and points out that the industry has entered a new cycle marked by heterogeneous integration, advanced processes, and AI chips, with volatility shifting from traditional supply-demand cycles to a mix of structural growth and cyclica