Xuan Gu Bao·2025-12-25 23:38Group 1 - The global competition for AI computing power has intensified, making high-performance memory like HBM a strategic resource, with major tech companies like Microsoft, Google, and Meta establishing procurement teams in South Korea to secure limited capacities from Samsung and SK Hynix [1] - Google has recently laid off some procurement leaders due to failure in signing long-term agreements, which has led to supply chain risks, highlighting the tight supply situation for storage chips [1] - The price increase cycle for storage chips is expected to start in Q3 2025, with Samsung, SK Hynix, and Micron collectively raising contract prices for DRAM and NAND Flash by up to 60%, driven by the dual demand from AI servers and smartphone upgrades [1] Group 2 - HBM is projected to reach a global market size of $5.61 billion in 2024, with an expected growth to $57.09 billion by 2034, reflecting a compound annual growth rate of 26.1%, as leading manufacturers prepare for HBM4 mass production [2] - The price increase in storage chips has affected various sectors including HBM, storage modules, and automotive-grade storage, indicating a comprehensive impact across the supply chain, with domestic storage industries poised for rapid development during this super cycle [2] Group 3 - Demingli, a company focused on the storage industry, is expected to quickly realize short-term benefits from inventory price increases and restocking due to its core control chip-based storage solutions [3] - Zhaoyi Innovation, a leading fabless Flash supplier, is involved in multiple storage categories including NOR, NAND, and DRAM, positioning itself favorably in the market [4]