Driven by the expansion of AI inference demand into general servers, memory procurement has surged. With supplier inventories bottoming out and production capacities concentrated on high-margin products, tight supply has fueled soaring contract prices, leading to explosive growth in industry revenue and profits. Meanwhile, Taiwanese manufacturers are focusing on mature nodes to fill market gaps, while major suppliers will gradually expand output through node transitions.

Key Highlights

• Revenue and Pricing: The demand for AI inference has stimulated server deployments and memory procurement. Tight supply has shifted pricing power back to suppliers, with surging contract prices driving substantial revenue growth.
• Profitability: As profit margins for conventional memory surpass those of High Bandwidth Memory (HBM), major suppliers are actively shifting their capacities toward high-margin applications, leading to a significant expansion in operating profit margins.
• Supply Strategy: Given the lengthy timelines required for constructing new fabs, major suppliers are primarily increasing their supply gradually through advanced node transitions and production process optimizations.
• Taiwanese Makers' Dynamics: Benefiting from the capacity shifts of major global suppliers, Taiwanese manufacturers are focusing on mature node products to fill market gaps, achieving explosive growth in both revenue and profit.

Table of Contents

1. DRAM Industry’s Revenue Showed Accelerated Revenue Growth in 1Q26, Driven Primarily by Rising Prices
   • 1Q26 Revenue Ranking among DRAM Suppliers

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