🇺🇸 SIA Global Billings $120.6B

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Actual    $120.6B
Change %  9.2% MoM, 104.1% YoY
Period    May 2026

Semiconductor Industry Association monthly global-billings is the canonical top-down semi cycle read. Released ~5 weeks after month-end. Strong MoM/YoY prints confirm or contradict the AI-buildout demand curve our Pattern 03 dossier tracks. Lags Korea/Taiwan exports (forward leading) but smooths them into a single industry-wide signal.

→ closelook.net/lab/patterns/pattern-03/