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Pallavi Rao
2024-10-22 11:44:00
www.visualcapitalist.com
Tech Manufacturers by R&D Investment Change in 2023
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This chart shows how R&D spending has changed for major chipmakers, and other related companies in the “Internet Communication Technology” space, such as smartphone manufacturers, and infrastructure providers.
Data is sourced from the Global Innovation Index 2024, an annual report produced by the World Intellectual Property Office.
Tech Manufacturers by R&D Budget Changes 2022–2023
Nvidia led technology hardware companies when it came to R&D spending in 2023, increasing their budget 18% year-over-year.
In the last decade, the company revolutionized the semiconductor industry, choosing to focus on graphics processing units that are now key to the AI boom.
| Rank | Company | Label |
|---|---|---|
| 1 |  Nvidia |
+18.2% |
| 2 | AMD |
+17.3% |
| 3 |  Samsung |
+14.4% |
| 4 | Apple |
+14.0% |
| 5 |  TSMC |
+11.8% |
| 6 | Cisco |
+11.7% |
| 7 |  Siemens |
+10.6% |
| 8 | Qualcomm |
+7.6% |
| 9 |  Ericsson |
+7.1% |
| 10 |  Huawei |
+7.0% |
| 11 | Broadcom |
+6.8% |
| 12 | Hon Hai |
-3.6% |
| 13 |  Nokia |
-4.1% |
| 14 | Mediatek |
-4.6% |
| 15 | Intel |
-8.5% |
| N/A |  Industry Average |
+7.0% |
Nvidia might have a significant first-mover advantage but as the data shows, other chipmakers are also pursuing an AI-pivot.
For example, competitor AMD’s innovation budget jumped 17% in 2023—the company recently committed to an annual release cycle of new chips, which might explain where that extra money is going.
Even companies whose main focus is telecommunications, Nokia and Ericsson, are expanding their in-house chip design. Both companies are following Huawei by trying to ride the twin 5G and AI waves.
However, not everyone has the cash flow to increase R&D budgets at the moment. Erstwhile bastion of the semiconductor industry, Intel, is struggling. The company is going through a major business restructuring, which prompted thousands of layoffs this year.
Learn More on the Voronoi App 
In the space of three years the Nvidia-Intel story has switched protagonists. Check out The AI Chips Race: Nvidia vs AMD vs Intel to see how revenues foretold the current landscape.
The post Ranked: Tech Manufacturers by R&D Investment Change in 2023 appeared first on Visual Capitalist.
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