Shang Hai Zheng Quan Bao·2025-10-21 18:18Core Insights - The storage chip market is experiencing a "super cycle" driven by AI, with expectations of price increases continuing until 2026 [2][7] - The demand for large-capacity storage in data centers is rapidly growing, alongside the increasing penetration of smart devices like smartphones and smart cars [2][5] Price Trends - Global storage chip prices have been rising for nearly six months, with major companies like Samsung and Micron announcing price hikes of 15% to 30% for DRAM and 5% to 10% for NAND flash [3][4] - Samsung's preliminary Q3 2025 results showed an operating profit of 12.1 trillion KRW (approximately 60.52 billion RMB), a year-on-year increase of 31.81% [3] Industry Outlook - The price increases in the storage chip sector are expected to positively impact the profitability of domestic storage companies, with many stocks reaching historical highs [4][9] - Analysts predict that the demand for DRAM will continue to grow, driven by AI applications and the expansion of data centers [7][8] AI and Storage Demand - The growth of generative AI is leading to increased storage demands from North American cloud service providers, with daily AI service calls reaching hundreds of millions [6] - The shift from HDDs to SSDs is accelerating due to performance limitations of traditional hard drives, with SSD penetration rates rising rapidly [6] Domestic Market Dynamics - Domestic storage companies are expected to benefit from both price recovery and domestic substitution, with a steady recovery in demand and production expected in Q4 [9] - Companies like佰维存储 are expanding their product lines to include high-performance storage solutions for AI applications, anticipating significant growth in Q4 and beyond [9]