NorthAm April semiconductor tool orders rise

Demand for artificial intelligence, storage and big data lifted North American billings of semiconductor equipment by 26pc in April, surpassing the record.

The three-month average billings for semiconductor equipment increased to $2.69bn from $2.14bn in April a year earlier, according to the Semiconductor Equipment and Material International (SEMI) association.

"Storage, artificial intelligence and big data are driving strong demand for semiconductors, offsetting smartphone sales that have lagged expectations this year," said Ajit Manocha chief executive.

Sales surpassed the previous record of $2.6bn, set in October 2000. Billings were up by 11pc sequentially from $2.43bn in March, according to the association.

The association expects spending on semiconductor equipment to rise in 2018, the fourth consecutive year.