HBM Market Bulletin - Dec. 16, 2025

Last Modified

2025-12-16

Update Frequency

Monthly

Format

PDF

Driven by Server DDR5 shortages and rising AI demand, DDR5 profitability now rivals HBM. With suppliers regaining pricing power and buyers increasing orders, the forecasted 2026 HBM3e price decline has significantly narrowed.

Key Highlights

Market Reversal: Exceeding expectations for AI server deployment caused Server DDR5 shortages and price surges, shifting the market to sellers.
Profit Shift: Soaring DDR5 profitability now rivals HBM, prompting suppliers to reallocate capacity and increasing upward pressure on HBM3e prices.
Forecast Revised: With pricing power regained, suppliers raised quotes for 2026 orders, resulting in an upward revision of the average HBM3e price forecast.