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Home/Chips & Networking/Bottlenecks/Memory

Korea / US · Chips & Networking

AI Memory (HBM & DRAM)

Three suppliers make essentially all HBM. Each HBM bit consumes several times the wafer area of standard DRAM, crowding out conventional supply.

DRAM wafer→TSV stack→HBM cube→Co-package

88

Tightness score ⓘ

#2 of 56

▲ Tightening

Supply concentration5

Lead time4

Capex intensity5

Geopolitical exposure4

Pricing power5

Lead time

12–18 mo

Theme 1M

−11.5%

% in uptrend

0%

Metric to watch

HBM contract commentary, DRAM contract prices, and Korea semiconductor exports.

What would prove us wrong

Weakens if HBM inventory builds and pricing softens while GPU shipments rise.

Dependencies

↑ supplier Chip Equipment (Deposition, Etch, Inspection)66 ↑ supplier Specialty & Industrial Gases52 ↓ customer Chip Packaging (CoWoS)80 ↓ customer AI Storage (Enterprise SSD & HDD)72 ↓ customer AI Devices & Edge45

Memory theme performance

Equal-weight · rebased 100 · 1Y

Stocks we track

Who controls this bottleneck

Roles, not recommendations. Delayed prices; local currency.

Stock	Role	Listing	Last	1D	1M	3M	YTD	Off 52w high	Trend	Next earnings
MU Micron Technology	US HBM/DRAM supplier; allocation thesis pulse	NASDAQ US	$798.4	−1.59%	−12.7%	−17.8%	+180.0%	−34.2%		2026-12-23
000660.KS SK hynix	HBM share leader	KRX Korea	₩1,254,000	−1.80%	−11.6%	−11.7%	+93.1%	−57.0%		2027-01-27
005930.KS Samsung Electronics	HBM, DRAM and foundry across memory and logic	KRX Korea	₩208,000	+0.97%	−10.3%	−8.0%	+77.0%	−41.6%		2027-01-27

Recent headlines

Auto-updated

Smartphone Scandal: Manufacturers Accused Of Using Secondhand Memory Chips In New PhonesChannelNews.com.au · 2h ago
China's memory makers are catching up. What happens when they do?The Korea Times · 3h ago
Micron Announces Participation in Investor EventsYahoo Finance · 4h ago
Taiwan DRAM makers to adopt EUV as memory boom shifts supply dynamicsChosunbiz · 4h ago
CoreWeave Says Its AI Demand Is 10 Times Its Capacity Through 2027. I Think Micron Stock Is Still Worth Buying.Yahoo Finance · 4h ago
Lutnick should ban Chinese memory maker CXMT from U.S., Sen. Cotton saysCNBC Tech · 4h ago