The leading 10 foundries achieved around $169.5 billion in revenue in 2025, a 26.3% YoY increase that set a new industry record.
Advanced-node demand remained strong in the fourth quarter (4Q 2025), driven by the tight supply of AI server GPUs and Google TPUs, according to TrendForce’s latest research on the semiconductor foundry industry. Furthermore, the launch of new smartphones boosted wafer orders for mobile application processors (APs), supporting solid shipment performance.
On the mature-node side, PMIC orders related to servers and edge AI continued to keep 8-inch fabs running at high utilization rates, with some suppliers even considering price increases. Meanwhile, utilization rates at 12-inch fabs remained largely stable. Together, these factors pushed the combined revenue of the world’s top ten foundries up by 2.6% quarter-on-quarter (QoQ) to nearly $46.3 billion in 4Q 2025.
The leading 10 foundries achieved around $169.5 billion in revenue in 2025, a 26.3% year-on-year (YoY) increase that set a new industry record. Looking ahead to 2026, initial inventory build-up for some consumer products might help stabilize utilization rates early in the year. However, rising memory prices are anticipated to dampen demand for mainstream end devices, leading to uncertainty in orders and fab utilization in the latter half of the year.
Among major foundries, Taiwan Semicondoctor Manufacturing Co. Ltd (TSMC) saw slightly lower wafer shipments in 4Q 2025, but shipments of new flagship smartphone APs—led by chips for the iPhone 17 series—boosted demand for its 3nm node. The resulting increase in ASPs lifted quarterly revenue by 2% QoQ to $33.7 billion, which allowed TSMC to maintain its leading position with a 70.4% market share.
Samsung Foundry (excluding System LSI) recorded 6.7% QoQ revenue growth to reach nearly $3.4 billion in 4Q 2025. Revenue was supported by shipments of new 2nm products, as well as the production of logic dies used in Samsung’s HBM4 memory. These contributions helped offset a slight decline in overall fab utilization. Samsung not only returned to profitability but also increased its market share from 6.8% to 7.1% to maintain second place.
Semiconductor Manufacturing International Corp. (SMIC) ranked third as the company continued to benefit from localization demand. Revenue rose by 4.5% QoQ to almost $2.49 billion, with growth driven by higher wafer shipments, slightly improved ASP, and additional photomask shipments toward the end of the year.
United Microelectronics Corp. (UMC) remained fourth, as stable orders from major customers supported both 8-inch and 12-inch fabs. Utilization rates held steady compared with the previous quarter, and revenue increased 0.9% QoQ to around $2 billion.
GlobalFoundries ranked fifth as it benefited from increased demand for data center peripheral components. Both wafer shipments and ASP improved, driving 8.4% QoQ revenue growth to $1.8 billion.
HuaHong Group ranked sixth. At its subsidiary HHGrace, demand for MCUs and PMICs lifted revenue by 3.9% QoQ in 4Q 2025. After consolidating revenue from HLMC, HuaHong Group reported total revenue of approximately $1.22 billion, up by 0.1% QoQ.
It’s worth noting that shipments related to emerging server applications such as silicon photonics (SiPho) and silicon-germanium (SiGe) grew steadily in 4Q 2025. This momentum helped Tower Semiconductor Ltd’s semiconductor revenue to rise by 11.1% QoQ to $440 million, pushing the company ahead of Vanguard and Nexchip to take seventh place.
Vanguard International Semiconductor Corp. (VIS) ranked eighth, with revenue declining by 1.6% QoQ to $406 million. Shipments were affected by softer demand for DDIC orders and cross-fab qualification issues related to a major PMIC customer.
Nexchip claimed the ninth position, reporting a 5.3% QoQ drop in revenue to $388 million. The decline reflected the company’s decision to delay shipments of certain products to 1Q 2026 after meeting its 2025 shipment and revenue targets.
Finally, Powerchip Semiconductor Manufacturing Corp. (PSMC) finished in tenth place. Strong demand for memory foundry services, combined with rising ASPs, lifted quarterly revenue by 2% QoQ to approximately $370 million, while its logic foundry business remained relatively stable.