Server-Class Ethernet NIC Revenues Have Doubled in Just Two Years,

Reports Crehan Research

Foundational NICs and DPUs/SmartNICs Both Post Very Strong Growth

SAN FRANCISCO, March 9, 2026 — Server-Class Ethernet NIC revenues more

than doubled over the past two years, according to the latest report from Crehan

Research. As a result, a market that was less than $6 billion in 2023 surpassed $13

billion by 2025. The year 2025 was especially strong, delivering not only record

revenue but also record revenue growth (see accompanying chart).

“Following

the

initial

release of ChatGPT, the

server-class

Ethernet

NIC market has seen

nearly a vertical straight

line trajectory in revenue

growth," said Seamus

Crehan, president of

Crehan Research. "High-

speed

foundational

Ethernet NICs are the

connection of choice for

connecting GPUs and

XPUs in back-end networking, while high-speed Ethernet DPUs/SmartNICs are a

common front-end connection.”

With the rapid customer deployment of high-speed Ethernet NICs in generative AI

networks, 200 gigabit Ethernet (GbE) and 400GbE NIC sales have more than tripled

in the past year alone, exceeding half of total market revenues, Crehan's report

shows.

“Although generative AI has been the main driver of the recent rapid server-class

Ethernet revenue growth, other market segments including general cloud service

provider compute, enterprise networking and storage have also seen very robust

increases," Crehan said.

About Crehan Research Inc.

Crehan Research Inc. produces reports with very detailed statistics and information

on the data center switch and server-class adapter & LOM/controller (NIC) markets.

The company’s reports are supported with rich insights and context to deliver

increased value. For more information about Crehan Research Inc. visit

www.CrehanResearch.com.

###