集邦咨询：预计HBM4溢价幅度将突破30%

Core Insights - The development of HBM technology is driven by the demand for AI servers, with major manufacturers actively advancing HBM4 product progress [1] - The complexity of chip design and increased wafer area due to higher I/O counts in HBM4 is expected to raise production costs significantly [1] - HBM4 is anticipated to have a premium exceeding 30%, compared to the 20% premium observed with the recent HBM3e launch [1] Industry Developments - NVIDIA showcased its latest Rubin GPU at the GTC conference, while AMD is competing with its MI400, both of which will feature HBM4 [1] - HBM4's I/O count has doubled from 1024 to 2048 compared to previous generations, maintaining a data transfer rate of over 8.0 Gbps, similar to HBM3e [1] - The increased channel count in HBM4 allows for a doubling of data transmission volume at the same transfer speed [1]