The big picture: AMD revenue grew by a whopping 71 percent year-over-year in the first quarter, owing in part to its recent acquisition of Xilinx. Last month, the company also bought Pensando, making it increasingly likely that it will outpace Broadcom in terms of earnings later this year.

According to Trendforce, the top 10 fabless semiconductor companies have seen their combined revenues rise to $39.43 billion in the first quarter, representing an impressive 44 percent growth YoY.

Qualcomm remains firmly in first place, owing to the great sales of its smartphone SoCs and RF modules. The company's IoT and automotive divisions also saw some growth.

Nvidia's data center business accounted for 45.4 percent of its total revenue, surpassing its gaming business by 0.4 percent. The company saw a total revenue of $7.9 billion, a 53 percent rise YoY. Meanwhile, Broadcom's revenue increased by a relatively low 26 percent.

AMD's revenue has increased by 71 percent YoY, in part because it finished acquiring Xilinx earlier this year. Even excluding the acquisition, the company's revenue hit an all-time high of $5.33 billion thanks to the strong sales seen by its enterprise, embedded, and console SoC divisions.

Marvell's revenue saw an even larger increase of 72 percent YoY, owing to its acquisition of cloud and edge data center networking solutions provider Innovium late last year.

The two newcomers to the top 10 list are Will Semiconductor and Cirrus Logic. The former is a China-based company and mainly designs CMOS image sensors, display driver ICs, and analog ICs. Its revenues fell nine percent YoY because of declining smartphone sales and the lockdowns in Shanghai.

Cirrus Logic specializes in audio products and mixed-signal ICs, and saw a 67 percent increase in revenue mainly because it bought Lion Semiconductor a year ago.