The 25-year-old joined the Cherries from Bristol City in 2023 and has weighed in with 28 goals in 99 appearances, alongside 13 assists.
Last term, he netted 11 goals from 37 top-flight appearances to reportedly attract interest from a number of Premier League teams.
This season, the Ghana international striker has an impressive six goals from nine games - as Bournemouth sit in second place on the league standings with 19 points from nine games - seven behind leaders Arsenal and with a game in hand.
Dean Huijsen, Milos Kerkez and Illia Zabarnyi all left the Cherries, but Semenyo said it was an easy decision for his to remain committed to the club and head coach Andoni Iraola.
He told Sky Sports: "I don't think about it too much. I try to stay present as much as I can. You see the news all the time, I see it as well, I'm not oblivious, but I try to keep focused.
"I'm enjoying my football here. If I'm not scoring goals, all of that goes away. I try to stay present, do the best I can for the team, score goals and whatever happens in the future happens.
"When they (his former team-mates) all left [in the summer], there was a lot of interest and back and forth with the club.
"But I knew in my head that the manager's got something up his sleeve this year. How we finished off the season last year was so good and we could continue, especially with the players we've bought in as well.
"I wasn't too sure at the start but we've kicked on like a house on fire. I'm glad I committed to staying here because I'm enjoying every moment."
Pep Guardiola has claimed Erling Haaland's extraordinary form has elevated him to the same level as Lionel Messi and Cristiano Ronaldo after the striker fired Manchester City to a 3-1 victory over Bournemouth at the Etihad Stadium.
Manchester City and West Ham United both recorded important 3-1 victories on Sunday in the Premier League.
Chelsea are reportedly drawing up plans to appoint Bournemouth manager Andoni Iraola in the near future, with current boss Enzo Maresca said to be under increasing scrutiny.
Manchester City are grappling with ongoing injury worries ahead of Sunday's Premier League encounter with in-form Bournemouth at the Etihad Stadium, as Pep Guardiola navigates a mounting list of absentees.
