HBM Market Bulletin - Sep. 16, 2025

Last Modified

2025-09-16

Update Frequency

Monthly

Format

PDF

NVIDIA Rubin platform plans mid-to-late year packaging and server assembly, with HBM4 sampling, certification and mass production have to be completed beforehand. To counter AMD, NVIDIA raises HBM4 specs and speed.

Key Highlights

Facing AMD pressure, NVIDIA boosts HBM4 specs and speed, while reducing customization to accelerate production and learning.
HBM4 speed per pin rises to ten Gbps; Samsung’s base-die advantage remains, while Micron and SK hynix need front- and back-end tweaks to catch up.
Supplier-certification strategy and phased audits will affect output and shipment timing.
Market outlook for HBM4 in 2026: SK hynix likely to hold the largest share, Samsung and Micron depend on sample results; if share is insufficient, they may pivot to alternative products to de-risk capacity.

Introduction
Competition Threat from AMD Prompts NVIDIA to Improve HBM4 Specifications
Samsung Gains Notable Advantage with Enhanced Transmission Speed Specification, While Micron Faces Challenges; September-October Is the Time Window for Suppliers to Make Adjustments for Their Products
- Suppliers' Respective Roadmaps for Advancing Bandwidths of HBM Products
Uncertainty Remains Over Specification Upgrades; Suppliers Are Expected to Finalize Their Production Strategies by 1H26

Suppliers’ Respective Roadmaps for Advancing Bandwidths of HBM Products