Analyst Predicts Memory Supply Delays to 2028 Will Boost HBM, DRAM and NAND Pricing
SNDK•Beth Kindig of IO Fund says new memory supply from Micron, Samsung and SK Hynix won’t arrive until 2028, keeping HBM, DRAM and NAND constrained until 2027. She adds that next-gen Nvidia and AMD AI chips’ higher HBM demands and ongoing shortages will sustain memory makers’ pricing power.
1. Analyst Outlook on Supply Delays
Beth Kindig of IO Fund highlights that expansion plans from Micron, Samsung, SK Hynix and SanDisk indicate meaningful new memory capacity will not come online until 2028, leaving output constrained through at least 2027.
2. AI-Driven Memory Demand
Demand for high-bandwidth memory is surging as next-generation AI chips from Nvidia and AMD require significantly more HBM per unit, while longer AI model context windows drive DRAM and NAND usage higher.
3. Pricing Power and Risks
Persistent shortages across HBM, DRAM and NAND flash are expected to sustain elevated prices for memory suppliers, although growing long-term supply agreements with hyperscalers could cap pricing upside over time.
