A diamond shows much better thermal conductivity with generally lower electrical conductivity in comparison to silicon. However, the latter has been much more commonly used in machines and gadgets, due to its cost-efficiency. With the rise of lab-grown diamonds, that may change in a very foreseeable future. Single-crystal lab-grown diamonds showed the thermal conductivity of 2100 W/mK, easily surpassing what silicon is capable of.
Removing or redirecting the temperature of high-power sources increases the lifetime of any machine, as it averts overheating or complete destruction. Applying diamonds as semiconductors not only prevents damages of the operating modules, but increases their working capacity in extreme conditions. For example, nanodiamonds are used in new developments for solar energy production. They’ve already shown to be highly efficient in withstanding and redirecting huge temperatures.