What’s behind the semiconductor inventory explosion?

Inventories at the major semiconductor manufacturers have been steadily rising, with a few exceptions. This is despite the players’ protests that they can’t get enough supply.An analysis by Jon Peddie Research shows that from the second calendar quarter of 2021 to the most recent quarter, inventories of semiconductor manufacturers have risen an average of 67%, with Nvidia leading the way. Its 2021 inventory was $2.1 billion. This most recent quarter was $6.67 billion, a 215% increase in three years. This is despite repeated comments on earnings calls that the company cannot get enough supply to match demand.Inventory change over time.Right