存储芯片涨价或将贯穿全年 中国产业崛起成“胜负手”

Core Viewpoint - The global storage market is experiencing a price surge due to extremely low inventory levels of DRAM and NAND, with major players like SK Hynix predicting that this trend will continue throughout 2026 driven by AI and computing demands [2][3][5]. Group 1: Market Conditions - Current inventory levels for DRAM and NAND are approximately 4 weeks, marking a historical low, leading to increased price expectations as demand from various sectors remains unmet [3]. - SK Hynix reported record revenues and profits for the fiscal year 2025, with operating income reaching 97.15 trillion KRW and a profit margin of 49%, reflecting the ongoing price increases and strong demand in the storage market [4]. Group 2: Supply and Demand Dynamics - The imbalance in supply and demand is attributed to the explosive demand for storage driven by AI applications and slow expansion of cleanroom space necessary for chip manufacturing, limiting supply growth [5]. - Major price increases have been observed, with SK Hynix raising prices for high-end products by 15% to 20% and standard DRAM prices increasing by 10% to 15% in late 2025 [5]. Group 3: Chinese Storage Industry - The rise of the Chinese storage industry is seen as a potential game-changer in the global supply chain, with companies like Yangtze Memory Technologies and ChangXin Memory Technologies leading the charge [7]. - Chinese manufacturers are increasingly being considered by PC makers like HP and Dell for storage solutions, indicating a shift from being an alternative option to a viable choice in the global market [7]. - Predictions suggest that Chinese storage capacity will gradually be released between the second half of 2026 and 2027, potentially alleviating global supply constraints and stabilizing prices [7]. Group 4: Future Outlook - Analysts believe that the current storage cycle's intensity and duration may surpass previous cycles, driven by the ongoing demand from AI and high-performance computing [6]. - Long-term contracts are being discussed between suppliers and major clients to secure future supply and pricing, indicating a strategic shift in the industry [3].