[gizmo]

The big 3 memory manufacturers (SK Hynix, Samsung, Micron) are essentially all moving upmarket. They have limited capacity and want to use it for high margin HBM for GPUs and ddr5 for servers. At the same time CXMT, Winbond and Nanya are stepping in at the lower end of the market.

I don't think there is a conspiracy or price fixing going on here. Demand for high profit margin memory is insatiable (at least until 2027 maybe beyond) and by the time extra capacity comes online and the memory crunch eases the minor memory players will have captured such a large part of the legacy/consumer market that it makes little sense for the big 3 to get involved anymore.

Add to that scars from overbuilding capacity during previous super memory super cycles and you end up with this perfect storm.

[mixermachine]

Let's see if this demand truly holds. I'm still unsure. Currently nobody makes money with AI. There will be a correction (if I can trust my magic crystal ball ;) )