HBM Memory: SK hynix, Samsung, Micron — 2026-09-10
Samsung Electronics and SK hynix have seen their finished DRAM inventories drop below 10 days of supply as HBM4 production consumes three times the wafer capacity of conventional DRAM, triggering a historic shortage. Meanwhile, Samsung’s HBM market share surged to 33% in Q2 2026, narrowing the gap with market leader SK hynix, while Micron announced plans to double its monthly HBM capacity to 100,000 wafers by year-end to catch up with Korean rivals.
HBM Memory: SK hynix, Samsung, Micron — 2026-09-10
Top developments
Inventory Crisis Hits Below 10 Days as HBM4 Devours Capacity
A September 7 report from KB Securities revealed that both Samsung Electronics and SK hynix have fallen below 10 days of finished DRAM inventory, a critical threshold indicating severe supply tightness. The primary driver is HBM4 production, which consumes three times the wafer capacity of conventional DRAM, effectively removing supply from the general market as fast as demand builds for AI accelerators. This squeeze is expected to spill over into DDR5 and enterprise SSDs, potentially dragging down consumer electronics availability and pricing.
Samsung Doubles HBM Market Share to 33%, Challenging SK hynix
Samsung Electronics lifted its High Bandwidth Memory (HBM) revenue share to 33% in the second quarter of 2026, a significant jump from 21% in the previous period. This move cuts the gap with market leader SK hynix to just 17 percentage points, with SK hynix holding 50% of the revenue share. The surge is largely attributed to increased shipments of HBM3E and early HBM4 volumes to major clients like Nvidia, marking a successful recovery for Samsung after earlier yield setbacks.
Micron Targets 100,000 Monthly Wafers to Close Capacity Gap
According to Yonhap News Agency on September 4, Micron Technology plans to boost its monthly HBM capacity to approximately 100,000 wafers by the end of 2026, nearly doubling its previous levels. This aggressive expansion targets the production of 12-layer HBM4 specifically for Nvidia’s Vera Rubin AI platform, aiming to reduce its reliance on older HBM3E generations. If achieved, this capacity increase will allow Micron to better compete with the scale advantages currently held by Samsung and SK hynix.
Samsung Foundry Allocates 50% of 4nm Capacity to HBM4 Base Dies
Samsung’s foundry division has allocated more than 50% of its 4-nanometer (nm) process capacity to the mass production of base dies for 6th-generation HBM4 as of early September 2026. This strategic shift is designed to preemptively secure supply for global tech giants including Nvidia, Broadcom, and AMD for the second half of the year. By prioritizing internal base die production, Samsung aims to streamline the HBM4 supply chain and improve yields compared to external partnerships.
Local view
SK hynix Accelerates 1c DRAM Transition Korean media outlets, including Remio and Ezyeconomy, report that SK hynix is accelerating its transition to 1c DRAM nodes, aiming for this advanced process to account for 34% of total production by the end of 2026. This shift is critical for supporting the density requirements of HBM4E mass production. Analysts note that while Samsung raises the stakes with HBM4E, SK hynix’s early adoption of 1c DRAM provides a manufacturing head start.
Korean Brokerages Raise Price Targets Financial News reports that NH Investment & Securities and other brokerages have raised their price targets for Samsung Electronics and SK hynix, citing sustained HBM growth and reduced uncertainty. DB Financial Investment specifically raised SK hynix’s target to 2.3 million KRW, noting that while Samsung faces risks from its mobile division and labor issues, the memory supercycle remains intact for both firms.
Context & numbers
- Q2 2026 Global DRAM Revenue: Reached $154.73 billion, up significantly quarter-over-quarter due to AI demand.
- Market Share (Q2 2026): SK hynix leads HBM with 50% revenue share; Samsung follows with 33%; Micron holds 18%.
- Micron Growth: Micron posted the fastest DRAM revenue growth in Q2 2026 at 65.5%, outpacing Samsung’s 63.4% and SK hynix’s 37.9%.
- Price Trends: Spot prices for DRAM modules are spiking toward $2,100 per module in some segments due to the inventory shortage.
On the radar
- HBM4E Hybrid Bonding Timeline: SK hynix confirmed at Hot Chips 2026 that hybrid bonding technology will likely miss the HBM4E window, remaining capped at 775 microns stack height. This suggests MR-MUF (Mass Reflow Molded Underfill) will remain the dominant packaging technology through Nvidia Rubin generation.
- Nvidia Vera Rubin Ramp: All three major manufacturers are aligning 12-layer HBM4 output for Nvidia’s upcoming Vera Rubin platform, with qualification results expected to further solidify or shake up the 50/33/18 market share split in Q4 2026.
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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