NorthAm semiconductor tool orders jump in May

North American billings of semiconductor equipment rose by 19pc in May, reflecting strong demand for "data-centric applications" and topping its previous record set in April.

The three-month average billings for semiconductor equipment climbed by 19pc to $2.70bn in May from $2.27bn a year earlier, according to the Semiconductor Equipment and Material International (SEMI) association.

Demand remained strong for semiconductor equipment in line with growing requirements for artificial intelligence, big data and edge computing applications, according to SEMI.

The previous record was set in April at $2.69bn, which itself surpassed the high in October 2000. Billings edged up by 0.6pc sequentially from April.

SEMI expects spending on semiconductor equipment to rise in 2018 for the fourth consecutive year.