HBM Memory: SK hynix, Samsung, Micron — 2026-09-06
Micron is aggressively doubling its HBM wafer capacity to 100,000 per month by year-end to close the gap with Korean rivals. Meanwhile, Samsung’s HBM market share surged to 33% in Q2, narrowing the lead of SK hynix to just 17 percentage points as HBM4 shipments accelerate.
HBM Memory: SK hynix, Samsung, Micron — 2026-09-06
Top developments
Micron Targets 100,000 Wafers/Month for HBM4
According to Yonhap News Agency and industry reports from September 4, 2026, Micron plans to boost its monthly High Bandwidth Memory (HBM) capacity to approximately 100,000 wafers by the end of 2026. This represents a near-doubling from last year's level of 40,000–50,000 wafers per month. The expansion is specifically targeted at increasing 12-layer HBM4 output for Nvidia’s Vera Rubin AI platform. This move signals Micron’s intent to challenge the duopoly of SK hynix and Samsung by scaling supply to meet the persistent shortage predicted to last until 2030.
Samsung HBM Share Jumps to 33%, SK hynix Holds 50%
Counterpoint Research data released in early September 2026 shows Samsung Electronics captured a 33% revenue share of the global HBM market in Q2 2026, up significantly from 21% a year prior. SK hynix maintains its lead with a 50% share, while Micron holds approximately 18%. The narrowing gap is attributed to Samsung’s successful qualification and mass shipment of HBM4 products to major customers like Nvidia. This shift in market dynamics reduces SK hynix's historical dominance and introduces more competitive pricing pressure in the HBM4 segment.
SK hynix Adjusts Margin Forecasts Amid Supply Competition
LS Securities revised its outlook for SK hynix in late August/early September, cutting the target price by 27% while raising Samsung’s target. The analyst notes that SK hynix’s HBM margin outlook has been adjusted from an initial 80% expectation to a more conservative 60% due to increased competition from Samsung and Micron. While demand remains robust, the influx of new capacity and competitive bidding for Nvidia’s Vera Rubin platform are compressing margins. The report emphasizes that supply shortages will persist into 2027, but pricing power for suppliers is being tested by the diversification of buyers' supply chains.
Local view
Korean media outlets highlight the intensifying "HBM War" within the domestic market. Seoul Economic Daily and Hankyung report that Samsung’s aggressive push into HBM4 has successfully eroded SK hynix’s monopoly, with the gap shrinking to 17 percentage points. Aju News notes that the entry of Micron and potential Chinese players further complicates the landscape, forcing SK hynix to defend its 50% share through technological differentiation like hybrid bonding. Meanwhile, Sedaily points out that despite volume constraints, unit prices have risen 37%, with spot prices reaching five times that of long-term agreements (LTAs), indicating severe tightness in the current contract cycle.
Context & numbers
- Market Share (Q2 2026): SK hynix 50%, Samsung 33%, Micron 18%.
- Micron Capacity Target: ~100,000 wafers/month by end of 2026 (up from ~50k).
- SK hynix Q2 2026 Revenue: KRW 79.3 trillion (up 257% YoY).
- HBM Pricing Trend: HBM3E contract prices are stabilizing around $13–17 per GB, but HBM4 premiums remain high due to qualification barriers.
On the radar
- Nvidia Server Price Hikes: Reports suggest Nvidia may raise prices for Vera Rubin and Grace Blackwell servers by over 15% in early 2027, potentially passing on higher HBM costs.
- Micron Earnings: Wall Street will scrutinize Micron’s upcoming earnings for confirmation of its 2026 capacity sold-out status and 2027 pricing negotiations.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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