Moiré materials have emerged as a platform for exploring the physics of strong electronic correlations and non-trivial band topology. Here we review the recent progress in semiconductor moiré materials, with a particular focus on transition metal dichalcogenides. Following a brief overview of the general features in this class of materials, we discuss recent theoretical and experimental studies on Hubbard physics, Kane–Mele–Hubbard physics and equilibrium moiré excitons. We also comment on the future opportunities and challenges in the studies of transition metal dichalcogenide and other semiconductor moiré materials. © 2022, Springer Nature Limited.