HBM，挑战加倍

Core Insights - High Bandwidth Memory (HBM) is emerging as a critical component for AI model training and inference due to its unique 3D stacked structure, which significantly enhances data transfer rates compared to traditional memory solutions like GDDR [1][2] HBM Market Dynamics - SK Hynix has established a dominant position in the HBM market, with its market share surpassing that of Samsung, which has seen a decline from 41% to 17% in the same period [3][4] - The launch of HBM3E has been pivotal for SK Hynix, attracting major tech companies like AMD, NVIDIA, Microsoft, and Amazon, leading to a significant increase in demand [3] - SK Hynix's sales in DRAM and NAND reached approximately 21.8 trillion KRW, surpassing Samsung's 21.2 trillion KRW for the first time [3] Competitive Landscape - Samsung is attempting to regain its footing by reviving Z-NAND technology, aiming for performance improvements of up to 15 times over traditional NAND and a reduction in power consumption by up to 80% [6][7] - NEO Semiconductor has introduced X-HBM architecture, which offers 16 times the bandwidth and 10 times the density of existing memory technologies, targeting the AI chip market [10] - Saimemory, a collaboration between SoftBank, Intel, and Tokyo University, is developing a new stacked DRAM architecture aimed at becoming a direct HBM alternative with significant performance improvements [11] Innovations and Alternatives - SanDisk and SK Hynix are collaborating on High Bandwidth Flash (HBF), a new storage architecture designed for AI applications, which combines 3D NAND flash with HBM characteristics [12][13] - The industry is exploring various architectural innovations, such as Processing-In-Memory (PIM), to reduce reliance on HBM and enhance efficiency [15][16] Future Trends - The AI memory market is expected to evolve into a heterogeneous multi-tiered structure, where HBM will focus on training scenarios, while PIM memory will cater to high-efficiency inference applications [18] - The demand for HBM, particularly HBM3 and above, is projected to remain strong, with significant price increases noted in the market [17]