再造一个HBM

Core Insights - The storage market is experiencing a rare supply-demand imbalance, driven by increased capital expenditure from cloud giants and rising AI demand, leading to a memory shortage and significant price increases for both DRAM and NAND flash [1] - NAND flash is gaining prominence, with prices for 512Gb TLC wafers reaching $5 and 1Tb TLC/QLC wafers hitting $6.5 to $7.2, marking a shift from being a low-cost storage option to a high-value component [1] - High-Bandwidth Flash (HBF) is emerging as a new technology concept that could elevate NAND's status in the AI era, similar to how High-Bandwidth Memory (HBM) has transformed DRAM [1][2] Group 1: HBF Technology Overview - HBF is a NAND version of high-bandwidth memory technology, connecting 16-layer NAND stacks to logic chips and then to GPUs or other processors via multi-channel high bandwidth [2] - HBF aims to balance performance and cost, providing 8 to 16 times the storage capacity at a similar cost to HBM, making it competitive for large model storage scenarios [3] Group 2: Industry Players and Strategies - SK Hynix has launched the "AIN Family" product lineup, which includes HBF technology, focusing on high-capacity, low-cost NAND combined with HBM structures to meet the growing demand for AI data processing [4][5] - SanDisk is aggressively pushing HBF, planning to provide samples by mid-2026 and formal products by early 2027, leveraging a partnership with SK Hynix for standardization [9][10] - Kioxia is exploring multiple technical paths for HBF, including a prototype for edge servers that utilizes a unique daisy-chain connection to overcome bandwidth bottlenecks [12][14] - Samsung is taking a cautious approach, currently in the early concept design phase for its own HBF products, leveraging its extensive experience in NAND and DRAM technologies [16][17] Group 3: Market Dynamics and Future Outlook - The NAND market is undergoing a transformation, shifting from a low-cost storage solution to a core component driven by AI demand, with the potential for HBF to replicate the success of HBM [19] - The competition among SK Hynix, SanDisk, Kioxia, and Samsung will shape the emerging HBF market, with the critical period for developments expected around 2026-2027 [19]