The world's insatiable appetite for AI data center hardware has flipped the semiconductor market into a price bonanza. In May 2026, China's semiconductor exports surged 111% year-over-year to a record $36 billion — but the actual number of chips shipped barely budged, up just 2% over the same period.
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Exports doubling while volume stays flat reveals just how desperate the global shortage of compute hardware has become. Prices for high-value chips have soared on AI-driven demand, directly inflating the export revenue. Computer and component exports also jumped 66% to around $27 billion, hitting the second-highest monthly figure ever.
Together, chips and computer parts accounted for roughly half of China's total trade growth in May. Powered by the compute export explosion, China's overall exports grew 19% year-over-year, imports surged 27%, and the trade surplus hit $105.4 billion — the highest since January 2026.