AI chip demand drives 6% growth for Singapore in first quarter
Singapore’s economy grew 6% year-on-year in the first quarter as demand skyrockets for artificial intelligence chips, balancing the fallout from the Middle East war, the government said Monday.
As a major electronics hub, the city-state has seen a significant increase in the production of memory chips and server components that are essential for the data centres that power AI tools.
Due to the “better-than-expected” growth, the trade ministry said it would maintain its forecast for the economy to expand 2.0 to 4.0 percent in 2026.
