Stage 5 of 9
Memory and storage (HBM, DRAM, NAND) memory
Three suppliers of HBM; wafer capacity moved to HBM starves DRAM and NAND. Where prices moved first in 2025.
- Unit
- GB and HBM stacks
- Sells
- high-bandwidth memory stacked on each GPU, server DRAM, and the NAND behind enterprise SSDs
- Lead time
- 1.5 years
- Status
- skeleton
Primer
What this stage is
Three kinds of memory sit around every accelerator. High-bandwidth memory is stacked on the GPU package itself and sets how fast the chip can be fed. Server DRAM holds the working data of the host. NAND flash, in enterprise solid-state drives, stores the datasets and model files. Three companies make almost all HBM, and the same companies make most DRAM and much of the NAND.
How it works
Memory is a commodity with a capacity cycle. Makers add wafer capacity in large steps, prices fall when supply runs ahead, capital spending is cut, and prices rise when demand catches up. Two things changed that cycle for AI. First, HBM takes several times more wafer area per bit than ordinary DRAM, so moving capacity to HBM removes supply from the rest of the market. Second, AI servers carry far more storage per GPU than conventional servers, and inference at scale needs fast storage for its working memory.
Contract prices, published monthly by the trackers, are the earliest public sign of a shortage. Capital spending guidance is the earliest sign of the next glut.
What to watch
- HBM stacks and gigabytes per GPU by generation, and HBM supply by maker.
- The share of DRAM wafer capacity going to HBM.
- DRAM and NAND contract price moves, month by month.
- Capital spending guidance and announced fab additions by maker.
- Enterprise SSD demand attributed to AI.
How it connects
GPUs shipped, times stacks per GPU, is HBM demand. Servers shipped, times storage per server, is NAND demand. Set those against announced capacity and the cycle's next turn is visible before it reaches prices. The 2025 NAND move is the case this page exists to explain.
Figures
| Metric | Value | Unit | As of | Scope | Confidence | Source | Note |
|---|---|---|---|---|---|---|---|
| hbm_market_share_sk_hynix_1q26 | 56.4 | % of global HBM revenue | 2026-03 | SK hynix | high | SK hynix Inc., Form 424B4 prospectus (Nasdaq ADS listing), dated July 9, 2026, citing IDC | SK hynix's own SEC prospectus states its first-quarter 2026 HBM revenue share, sourced to IDC; the prospectus also gives 63.2% for full-year 2025. |
| hbm_market_share_sk_hynix_2q26 | 50 | % of global HBM revenue | 2026-06 | SK hynix | medium | Korea JoongAng Daily, 'Samsung narrows gap with No. 1 SK hynix in HBM market revenue in Q2', Sept 3, 2026, citing Counterpoint Research | Counterpoint's Q2 2026 estimate as reported by a named newspaper; down 8 points from 58% in Q1 2026 on Counterpoint's numbers (IDC's Q1 figure in SK hynix's prospectus is 56.4%). |
| hbm_market_share_samsung_2q26 | 33 | % of global HBM revenue | 2026-06 | Samsung Electronics | medium | Korea JoongAng Daily, Sept 3, 2026, citing Counterpoint Research | Samsung does not publish its own HBM share; this is Counterpoint's Q2 2026 revenue-share estimate, up from 21% in Q1 2026 as Samsung began shipping HBM4. |
| hbm_market_share_micron_2q26 | 18 | % of global HBM revenue | 2026-06 | Micron | medium | Korea JoongAng Daily, Sept 3, 2026, citing Counterpoint Research | Counterpoint's Q2 2026 estimate; Micron itself says only that it chooses its HBM share to be close to its DRAM share (about 22% of DRAM revenue in 1Q26 per TrendForce). |
| dram_market_share_sk_hynix_1q26 | 29.1 | % of global DRAM revenue (including HBM) | 2026-03 | SK hynix | high | SK hynix Inc., Form 424B4 prospectus, dated July 9, 2026, citing IDC | Second-ranked DRAM supplier by revenue in 1Q26 per IDC as cited in SK hynix's prospectus; contrast with its 56.4% HBM share. |
| micron_hbm4_revenue_shipped_cumulative | 1 | USD billion, cumulative HBM4 revenue shipped (floor: 'over $1 billion') | 2026-06-24 | Micron | medium | Investing.com transcript of Micron fiscal Q3 2026 earnings call, June 24, 2026 | Micron does not disclose quarterly HBM revenue in its 8-K press releases, 10-Qs or 10-K (checked FQ4 2025 through FQ3 2026); this cumulative HBM4 figure is from the earnings call transcript, a secondary source. |
| micron_hbm_calendar_2026_supply_contracted | 100 | % of Micron's calendar 2026 HBM supply covered by price and volume agreements ('entire') | 2025-12-17 | Micron | medium | TrendForce News, 'Micron Hikes CapEx to $20B with 2026 HBM Supply Fully Booked', Dec 18, 2025, citing Micron's fiscal Q1 2026 earnings materials | The 'sold out' statement is in Micron's earnings call and prepared remarks, not the 8-K text; this is a tracker's report of it. The same report gives the fiscal 2026 capex plan raised to $20 billion from $18 billion (later raised again to about $27 billion). |
| micron_capex_fy2026_estimate | 27 | USD billion, fiscal 2026 net capex (company estimate) | 2026-06-24 | Micron | medium | Investing.com transcript of Micron fiscal Q3 2026 earnings call, June 24, 2026 | Raised from about $18 billion (Sept 2025) and $20 billion (Dec 2025); net of government incentives; nine-month FY26 gross PP&E spend was $19,602 million per the 10-Q; transcript is a secondary source. |
| micron_quarterly_revenue_fq3_2026 | 41.46 | USD billion, fiscal quarter ended May 28, 2026 | 2026-05-28 | Micron | high | Micron Technology, Form 8-K Exhibit 99.1, fiscal Q3 2026 earnings press release, June 24, 2026 | Total company revenue for the latest reported quarter, up from $23.86 billion the prior quarter; the 10-Q splits it as DRAM $31,328 million (75.6%) and NAND $9,943 million. FQ4 results are due Sept 30, 2026. |
| sk_hynix_revenue_2q26 | 79.32 | KRW trillion, quarter ended June 30, 2026 | 2026-06-30 | SK hynix | high | SK hynix Inc., Form 6-K (results for the period ended June 30, 2026), filed August 2026 | As printed: 7.93187e+07 KRW million, quarter ended June 30, 2026. About KRW 79.3 trillion; operating profit was KRW 60,542,608 million, a 76% operating margin, both records. |
| sk_hynix_capex_2025 | 27,519 | KRW billion (cash paid for property, plant and equipment) | 2025-12 | SK hynix | high | SK hynix Inc., Form 424B4 prospectus, dated July 9, 2026 | Cash capex for calendar 2025 (up from W15,946 billion in 2024); the 6-K shows W17,595 billion invested in the first half of 2026. |
| sk_hynix_capex_2026_plan_floor | 40 | KRW trillion (floor of the stated 'high KRW 40 trillion range') | 2026-07-28 | SK hynix | medium | Investing.com transcript of SK hynix Q2 2026 earnings call, July 28, 2026 | Company guided 2026 capex to the 'high 40 trillion won range', i.e. roughly KRW 47-49 trillion versus KRW 27.5 trillion in 2025; the value recorded is the floor of the range and the transcript is a secondary source. |
| dram_contract_price_qoq_1q26_low | 93 | % QoQ, conventional DRAM contract price (realised) | 2026-03 | global | high | TrendForce press release, 'Rapid Contract Price Surge Drives 1Q26 DRAM Industry Up 81% QoQ', June 1, 2026 | Low end of TrendForce's realised 1Q26 conventional DRAM contract price increase; the largest quarterly move in the current cycle. |
| dram_contract_price_qoq_1q26_high | 98 | % QoQ, conventional DRAM contract price (realised) | 2026-03 | global | high | TrendForce press release, June 1, 2026 | High end of the same realised 1Q26 range. |
| dram_industry_revenue_1q26 | 97 | USD billion, global DRAM industry revenue in the quarter | 2026-03 | global | high | TrendForce press release, June 1, 2026 | Up 81% QoQ; Samsung led with $37.32 billion (38.5%), SK hynix $27.98 billion, Micron $21.75 billion per the same release. |
| dram_contract_price_qoq_3q26_low | 13 | % QoQ, conventional DRAM contract price (forecast) | 2026-07-03 | global | medium | TrendForce press release, 'AI Server Demand Continues to Support Memory Prices in 3Q26, but Gains Moderate as Consumer Demand Weakens and High Base Effects Take Hold', July 3, 2026 | Low end of TrendForce's 3Q26 forecast for conventional DRAM (excludes HBM); a forecast, not a realised price. The 4Q26 DRAM percentages are inside TrendForce's paid report. |
| dram_contract_price_qoq_3q26_high | 18 | % QoQ, conventional DRAM contract price (forecast) | 2026-07-03 | global | medium | TrendForce press release, July 3, 2026 | High end of the same 3Q26 conventional DRAM forecast range. |
| nand_contract_price_qoq_3q26_low | 10 | % QoQ, NAND Flash contract price (forecast) | 2026-07-03 | global | medium | TrendForce press release, July 3, 2026 | Low end of TrendForce's 3Q26 NAND Flash contract price forecast; high end is 15%. |
| nand_contract_price_qoq_3q26_high | 15 | % QoQ, NAND Flash contract price (forecast) | 2026-07-03 | global | medium | TrendForce press release, July 3, 2026 | High end of the same 3Q26 NAND forecast range. |
| nand_contract_price_qoq_4q26_low | 15 | % QoQ, overall NAND Flash contract price (forecast) | 2026-09-24 | global | medium | TrendForce, '4Q26 Memory Price Forecast' report page (public summary), Sept 24, 2026 | Low end of the 4Q26 NAND forecast on the public report page; the detailed DRAM percentages are inside the paid report. |
| nand_contract_price_qoq_4q26_high | 20 | % QoQ, overall NAND Flash contract price (forecast) | 2026-09-24 | global | medium | TrendForce, '4Q26 Memory Price Forecast' report page, Sept 24, 2026 | High end of the same 4Q26 NAND forecast range. |
| enterprise_ssd_contract_price_qoq_4q26_low | 23 | % QoQ, enterprise SSD contract price (forecast) | 2026-09-24 | global | medium | TrendForce, '4Q26 Memory Price Forecast' report page, Sept 24, 2026 | Enterprise SSD (the AI-server NAND product) is forecast to rise faster than overall NAND, 23-28% QoQ; low end recorded here, high end is 28. |
| hbm_share_of_dram_wafer_input_end_2026 | 22 | % of top-three suppliers' total DRAM wafer input going to HBM (TrendForce estimate) | 2026-06-02 | global (Samsung, SK hynix, Micron) | medium | TrendForce press release, 'Tight DRAM Supply Gives Suppliers Greater Pricing Power in HBM', June 2, 2026 | Wafer-input share, not revenue share; end-2025 was about 18% and end-2027 is estimated at 30%. No public tracker sentence giving HBM's share of DRAM revenue was found. |
| hbm_share_of_dram_bit_supply_2026 | 9 | % of total DRAM bit supply that is HBM (TrendForce estimate) | 2026-06-02 | global | medium | TrendForce press release, June 2, 2026 | Pairs with the wafer-input row: about 22% of wafers yield about 9% of bits (2025: 8%, 2027: 13%), which is the wafer penalty of HBM in one number. |
| sandisk_price_increase_apr_2025 | 10 | % increase in Sandisk NAND product prices for channel and consumer customers (floor: 'over 10%'), effective April 1, 2025 | 2025-03-07 | Sandisk | low | Yahoo Finance / Investing.com, 'Sandisk plans 10% price hike for NAND products from April 1', March 7, 2025 | First of Sandisk's 2025 increases, announced in a customer letter dated March 7, 2025 that cited tariff changes, consumer inventory cuts and industry-wide NAND output cuts; the letter itself is not on Sandisk's investor site. |
| sandisk_price_increase_sep_2025 | 10 | % increase in Sandisk NAND product prices for channel and consumer customers, orders after Sept 5, 2025 | 2025-09-05 | Sandisk | low | TrendForce News, 'SanDisk Reportedly Sees NAND Shortage Until 2026', Sept 17, 2025, citing TechPowerUp | Second 2025 increase, reported by a tracker citing trade press; the same article says Sandisk expected the market to remain undersupplied through 2026. A November 2025 report of a further increase of up to 50% (TechPowerUp) could not be opened. |
| sandisk_share_price_close_2025_start | 47.15 | USD per share, closing price on Feb 18, 2025 (first trading day shown after the Western Digital spin-off) | 2025-02-18 | Sandisk (NASDAQ:SNDK) | medium | Yahoo Finance, Sandisk (SNDK) historical prices, Feb 18 to Dec 31, 2025 | Start point for the 2025 bottleneck case study; Dec 31, 2025 close was $237.38, so 237.38 / 47.15 = 5.03x, a gain of about 403% over the year. |
| sandisk_share_price_close_2025_end | 237.38 | USD per share, closing price on Dec 31, 2025 | 2025-12-31 | Sandisk (NASDAQ:SNDK) | medium | Yahoo Finance, Sandisk (SNDK) historical prices | End point for the 2025 case study; the share price rose roughly five-fold across 2025 as NAND prices turned up. |
| sandisk_share_price_close_latest | 1,777.8 | USD per share, closing price | 2026-09-25 | Sandisk (NASDAQ:SNDK) | medium | Stock Analysis, Sandisk (SNDK) stock price history table | Latest close shown; 1,777.80 / 237.38 = 7.5x the end-2025 close and 37.7x the Feb 18, 2025 close. |
| sandisk_pricing_share_of_sequential_growth_fq4_2026 | 66.7 | % of Sandisk's sequential revenue growth attributed to higher pricing ('approximately two-thirds') | 2026-07 | Sandisk | high | Sandisk Corp., Form 8-K Exhibit 99.1, fiscal Q4 2026 earnings press release, Aug 5, 2026 | Company's own split of its 51% sequential growth to $8.97 billion: about one-third volume, two-thirds price (2/3 = 66.7%); fiscal 2026 revenue was $20.25 billion, up 175%. |
| kioxia_asp_change_qoq_1q_fy2026 | 70 | % QoQ change in Kioxia blended average selling price, quarter ended June 30, 2026 | 2026-06-30 | Kioxia | medium | Investing.com summary of Kioxia Q1 FY2026 results slides, July 31, 2026 | Kioxia's own slides (summarised by a secondary source) attribute its 76.2% QoQ revenue jump to JPY 1,767.1 billion to a roughly 70% ASP rise with only low-single-digit bit growth; no Kioxia 2025 price-increase letter was found publicly. |
| memory_share_of_ai_server_bom | 75 | % of an AI server's hardware bill-of-materials cost (floor: 'more than 75%') | 2026-09-02 | global (Google Cloud statement) | low | TrendForce News, 'Google Says Memory Tops 75% of Server BOM', Sept 2, 2026, citing Commercial Times report of a SEMICON Taiwan 2026 talk | Statement attributed to Nikhil Cherian of Google Cloud at SEMICON Taiwan 2026, relayed through two news layers; the figure depends on server configuration and on memory prices at the time. |
| dram_nand_share_of_csp_capex_2026 | 47 | % of major cloud service providers' total capex spent on DRAM and NAND Flash (TrendForce estimate) | 2026-08-25 | global (major CSPs) | medium | TrendForce press release, 'Memory Prices Soar; DRAM and NAND Flash to Account for 68% of Major CSP CapEx in 2027', Aug 25, 2026 | Shows how much hyperscaler spending memory absorbs at current prices; TrendForce projects 68% in 2027 (a projection, so not recorded as its own row). |
Conversions
| From → To | Factor | Unit | As of | Confidence | Source | Note |
|---|---|---|---|---|---|---|
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 80 | GB of HBM per GPU (NVIDIA H100 SXM, HBM3) | 2026-09-27 | high | NVIDIA, H100 Tensor Core GPU product page specification table | H100 SXM lists 80GB of HBM3 at 3.35TB/s; the PCIe-based H100 NVL variant lists 94GB. |
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 5 | HBM stacks per GPU (NVIDIA H100 SXM5, active HBM3 stacks) | 2022-03-22 | high | NVIDIA Technical Blog, 'NVIDIA Hopper Architecture In-Depth', March 22, 2022 | Five active 16 GB HBM3 stacks give 80 GB; the package has six stack sites, one left unused for yield. |
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 141 | GB of HBM per GPU (NVIDIA H200 SXM and H200 NVL, HBM3e) | 2026-09-27 | high | NVIDIA, H200 Tensor Core GPU product page and specification table | Per-GPU HBM3e capacity from NVIDIA's own specification table (4.8TB/s); same GPU die as H100 with six 24 GB stacks, of which 141 GB is exposed. |
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 180 | GB of HBM3e per GPU as configured in DGX B200 (1,440 GB / 8 GPUs) | 2026-09-27 | high | NVIDIA, DGX B200 product page specification table | Arithmetic: 1,440 GB total across 8x Blackwell GPUs = 180 GB per GPU as shipped; the Blackwell GPU's full on-package capacity is 192 GB (next row). |
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 192 | GB of HBM3e per GPU (NVIDIA Blackwell B200, on-package capacity) | 2025-08-22 | medium | NVIDIA Technical Blog, 'Inside NVIDIA Blackwell Ultra', Aug 22, 2025 | Derived: Blackwell Ultra's 288 GB is stated to be 50% more than Blackwell, so 288 / 1.5 = 192 GB for Blackwell, i.e. eight 8-Hi stacks of 24 GB. |
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 288 | GB of HBM3e per GPU (NVIDIA Blackwell Ultra / GB300) | 2025-08-22 | high | NVIDIA Technical Blog, 'Inside NVIDIA Blackwell Ultra', Aug 22, 2025 | Per-GPU HBM3e capacity for the GB300 generation; a GB300 NVL72 rack lists 72 GPUs and 20 TB of GPU memory (72 x 288 GB = 20,736 GB). |
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 8 | HBM stacks per GPU (NVIDIA Blackwell Ultra, 12-Hi HBM3e stacks of 36 GB) | 2025-08-22 | high | NVIDIA Technical Blog, 'Inside NVIDIA Blackwell Ultra', Aug 22, 2025 | Eight stacks x 12 dies x 3 GB = 288 GB; stack count per GPU has gone 5 (H100) to 6 (H200) to 8 (B200 and GB300), and dies per stack from 8 to 12. |
| Memory and storage (HBM, DRAM, NAND) → Wafers and advanced packaging | 3 | DRAM wafers consumed per bit, HBM3E relative to DDR5 at the same node (ratio) | 2026-08-23 | medium | MLQ News report of Micron's Hot Chips 2026 presentation (Raghu Sreeramaneni, Micron), Aug 26, 2026 | Micron's 'trade ratio': each HBM bit removes about three DDR5 bits of wafer capacity, and Micron said the HBM4 ratio is higher. Secondary report of a company presentation; Micron's own remarks PDFs redirect. |
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 72 | GPUs per GB300 NVL72 rack, with 20 TB of GPU memory per rack | 2026-09-27 | high | NVIDIA, GB300 NVL72 product page specification table | The page lists 72 Blackwell Ultra GPUs and 20 TB of GPU memory per rack; 72 x 288 GB = 20.7 TB, so '20 TB' is a rounded rack total. |
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 186 | GB of HBM3E per GPU (GB200) | 2026-09 | high | NVIDIA, GB200 NVL72 product page (specifications table) | Arithmetic: 13.4 TB of HBM3E per rack / 72 GPUs = 0.186 TB = 186 GB per GPU (from NVIDIA's rounded rack total; each Blackwell GPU carries 8 HBM3E stacks, so about 23 GB per stack). |
| GPUs, servers, racks and networking → Memory and storage (HBM, DRAM, NAND) | 278 | GB of HBM3e per GPU (GB300 / Blackwell Ultra) | 2026-09 | high | NVIDIA, GB300 NVL72 product page (specifications table) | Arithmetic: 20 TB of GPU memory per GB300 NVL72 rack / 72 GPUs = 0.278 TB = 278 GB per GPU, a 49% increase in HBM per GPU over GB200 for the same 72-GPU rack, which is why HBM demand grows faster than GPU unit counts. |
Players
| Company | Ticker | Role | Listed | Note |
|---|---|---|---|---|
| SK hynix | KRX:000660 (ADS: NASDAQ:SKHY) | HBM leader; No. 2 DRAM; NAND (Solidigm) | yes | Held 56.4% of HBM revenue in 1Q26 per IDC as cited in its own Nasdaq prospectus; Q2 2026 revenue KRW 79.3 trillion at a 76% operating margin, 2026 capex guided to the high KRW 40 trillion range. |
| Samsung Electronics | KRX:005930 | Largest DRAM and NAND maker; HBM4 challenger | yes | Largest DRAM supplier with $37.32 billion of 1Q26 DRAM revenue (TrendForce); its HBM revenue share rose from 21% to 33% in Q2 2026 per Counterpoint as HBM4 ramped. |
| Micron Technology | NASDAQ:MU | No. 3 DRAM/HBM and NAND; only US memory maker | yes | Fiscal Q3 2026 revenue $41.46 billion (75.6% DRAM); has shipped over $1 billion of HBM4, contracted all of its calendar 2026 HBM supply, and guides fiscal 2026 capex to about $27 billion. |
| Sandisk | NASDAQ:SNDK | NAND and enterprise SSD (Kioxia JV fabs) | yes | Fiscal 2026 revenue $20.25 billion, up 175%, with two-thirds of Q4 sequential growth from pricing; the 2025 bottleneck case-study stock, up about five-fold across 2025. |
| Kioxia Holdings | TSE:285A | NAND maker (Yokkaichi and Kitakami fabs, JV with Sandisk) | yes | Quarter to June 2026 revenue JPY 1,767.1 billion, up 76.2% QoQ, on a roughly 70% rise in blended ASP with only low-single-digit bit growth; its CEO said in Sept 2026 that prices 'have already risen enough'. |
| Western Digital | NASDAQ:WDC | Nearline HDD for cloud and AI data lakes | yes | Fiscal Q4 2026 revenue $3.75 billion, up 44% year-over-year; fiscal 2026 revenue about $12.9 billion, up 36%, as AI data centers absorb high-capacity HDDs. |
| Seagate Technology | NASDAQ:STX | Nearline HDD; HAMR (Mozaic) density leader | yes | Fiscal 2026 revenue $12.2 billion, up 34%, with Q4 revenue $3.6 billion; the other half of the HDD duopoly, citing 'strengthening exabyte demand' addressed through its Mozaic HAMR platform. |
| ASM International | AMS:ASM | ALD and epitaxy tools for advanced DRAM/HBM | yes | Q1 2026 revenue EUR 863 million; said memory demand 'was solid, largely for the most advanced DRAM device technologies used in HBM-related applications', with memory a smaller share than logic/foundry. |
| Lam Research | NASDAQ:LRCX | Etch and deposition; TSV etch and plating for HBM | yes | Record March-2026-quarter revenue of $5.84 billion on AI-driven demand; a leader in the through-silicon-via etch and copper plating steps that stack HBM dies. |
| Applied Materials | NASDAQ:AMAT | Deposition, CMP and packaging tools for DRAM/HBM | yes | Record fiscal Q2 2026 revenue of $7.91 billion, up 11%; signed a long-term collaboration with SK hynix on next-generation DRAM and HBM and expects its semiconductor equipment business to grow more than 30% in calendar 2026. |
| Tokyo Electron | TSE:8035 | Etch, coater/developer and wafer bonders for DRAM/HBM | yes | Raising FY26 capex 48% to JPY 240 billion on DRAM interconnection (TSV) etch demand for HBM and targeting JPY 500 billion cumulative etch sales by fiscal 2030 (TrendForce citing Nikkei). |
| Hanmi Semiconductor | KRX:042700 | Thermal-compression (TC) bonders that stack HBM dies | yes | Main TC bonder supplier to SK hynix; a June 2026 order for HBM4 TC bonders was worth KRW 44.2 billion, about 7.7% of Hanmi's 2025 revenue. |
Signals
| Date | Kind | Actor | Counterparty | Claim | Value | Confidence | Source |
|---|---|---|---|---|---|---|---|
| 2026-09-24 | price | TrendForce | 4Q26 forecast: NAND Flash contract prices up 15% to 20% quarter on quarter, enterprise SSD up 23% to 28% | 15 % QoQ | reported | TrendForce, 4Q26 Memory Price Forecast, public summary (2026-09-24) | |
| 2026-08-25 | statement | TrendForce | DRAM and NAND expected to absorb 47% of major cloud providers' capital expenditure in 2026 and 68% in 2027 at current prices | 47 % of CSP capex | reported | TrendForce press release (2026-08-25) | |
| 2026-08-05 | statement | Sandisk | Fiscal Q4 2026 revenue of $8.97 billion, up 51% quarter on quarter, about one-third from volume and two-thirds from price; fiscal 2026 revenue $20.25 billion, up 175% | 8.97 USD bn | confirmed | Sandisk fiscal Q4 2026 earnings release (8-K exhibit 99.1, 2026-08-05) | |
| 2026-07-28 | buildout | SK hynix | 2026 capital expenditure guided to the high KRW 40 trillion range, against KRW 27.5 trillion in 2025 | 40 KRW trillion | reported | SK hynix Q2 2026 earnings call, transcript (2026-07-28) | |
| 2026-07-03 | price | TrendForce | 3Q26 forecast: conventional DRAM contract prices up 13% to 18% quarter on quarter, NAND Flash up 10% to 15% | 13 % QoQ | reported | TrendForce press release (2026-07-03) | |
| 2026-06-01 | price | TrendForce | Conventional DRAM contract prices rose 93% to 98% quarter on quarter in 1Q26 and the DRAM industry's revenue rose 81% | 93 % QoQ | reported | TrendForce press release (2026-06-01) | |
| 2025-12-31 | price | Sandisk | Sandisk shares closed 2025 at $237.38, 5.0 times the $47.15 close of February 18, 2025, its first week as a listed company, as NAND prices turned up | 5.03 x | reported | Yahoo Finance, SNDK historical prices | |
| 2025-12-17 | statement | Micron | Price and volume agreements cover Micron's entire calendar 2026 HBM supply; fiscal 2026 capex plan raised to $20 billion | 100 % of 2026 HBM supply | reported | TrendForce News (2025-12-18) reporting Micron's fiscal Q1 2026 earnings call of 2025-12-17 | |
| 2025-09-05 | price | Sandisk | customers | Second 2025 NAND price increase of 10% notified to customers, with the market expected to stay undersupplied through 2026 | 10 % | reported | TrendForce News (2025-09-17), citing TechPowerUp's report of the customer letter |
| 2025-03-07 | price | Sandisk | customers | Customer letter announcing NAND product price increases of more than 10% from April 1, 2025, citing tariffs, consumer inventory cuts and industry output cuts | 10 % | reported | Yahoo Finance / Investing.com (2025-03-07), reporting the customer letter |