2 1 Shi Ji Jing Ji Bao Dao·2025-10-31 00:00Core Viewpoint - The storage chip industry is experiencing a significant price surge, driven by strong demand from global tech giants for AI computing power, marking the beginning of a "super cycle" in the market [1][4][12]. Market Performance - The storage index in the A-share market has risen by 59.42% over the past three months, with notable stock performances including Jiangbolong up 210.89% and Shannong Chip up 275% [2][8]. - Major companies like Micron, Samsung, and SK Hynix are reducing production due to weak NAND Flash demand, while domestic firms are seizing market opportunities [5][7]. Price Trends - DRAM prices increased by 47.7% in the first half of 2025, and NAND Flash prices rose by 9.2%, with 512Gb Flash wafer prices up over 20% since October [3][6]. - The price of old process DRAM products is expected to rise by 8% to 13% in Q4, while HBM prices may increase by 13% to 18% [6]. Supply and Demand Dynamics - The rapid development of AI technology is creating a structural shift in storage demand, particularly for HBM products, which are essential for AI chip modules [4][11]. - The supply of traditional DRAM products is tightening as manufacturers shift focus to higher-margin products like DDR5 and HBM [5][11]. Future Outlook - Analysts predict a continued upward trend in storage prices into 2026, with major players optimistic about market conditions [14]. - The global storage market is expected to reach a size of $300 billion by 2027, driven by sustained demand for AI-related applications [2][4].