三星HBM 4将采用混合键合

Core Viewpoint - Samsung plans to adopt hybrid bonding technology in its HBM4 to reduce heat generation and achieve ultra-wide memory interfaces, while SK Hynix may delay its adoption of this technology [1][4]. Group 1: Hybrid Bonding Technology - Hybrid bonding is a 3D integration technology that connects chips directly without using micro bumps, allowing for lower resistance, capacitance, and better thermal performance [2][5]. - The technology supports interconnect spacing of less than 10 µm, providing higher density and thinner 3D stacks compared to traditional bump-based stacking [2][5]. - Despite its advantages, hybrid bonding is expensive and requires specialized equipment, which may affect capital efficiency, especially in space-constrained fabs [2][3]. Group 2: Competitive Landscape - Samsung's plan to use hybrid bonding in HBM4 could reshape the competitive landscape, potentially allowing it to regain market share from Micron and SK Hynix after mass production begins in 2026 [4][5]. - SK Hynix is developing advanced MR-MUF technology as an alternative to hybrid bonding, aiming to produce 16-Hi HBM4 stacks that meet JEDEC specifications [3][4]. - The adoption of hybrid bonding technology is expected to significantly change the semiconductor supply chain, with major players like Applied Materials entering the market for hybrid bonding equipment [5][8]. Group 3: Market Dynamics - The current HBM3E production utilizes TC bonding equipment, which is dominated by domestic suppliers in South Korea, accounting for over 80% of the market [6]. - The demand for HBM is increasing significantly, leading to a rise in supply from domestic companies like Hanmi Semiconductor [6][8]. - The semiconductor equipment ecosystem is anticipated to undergo substantial changes as hybrid bonding technology becomes mainstream [7][8].