一盒=一套房？内存条何以成“抢手货”

Core Insights - The global storage chip market has entered a "super bull market" phase, with DDR5 memory prices increasing over 300% since September last year, surpassing historical highs from 2018 [1] - Major players in the DRAM market, including Samsung, SK Hynix, and Micron, control over 90% of the market, leading to synchronized production decisions that significantly impact pricing [1][2] - The shift in production focus from DDR4 to HBM (High Bandwidth Memory) to meet the demands of AI computing has drastically reduced the supply of consumer-grade memory, driving prices up [2] Market Dynamics - The demand for HBM is driven by tech giants like Microsoft, Google, Alibaba, and Tencent, who are investing heavily in data centers for AI model training, requiring 8 to 10 times more memory than standard servers [2] - Over 80% of advanced production capacity is now allocated to the AI server market, leading to a significant supply shortage for consumer memory products [2] - The current pricing trend for ordinary memory is expected to remain high in the short term due to sustained AI demand and production focus on higher-margin products [3] Future Outlook - While short-term prices for ordinary memory are unlikely to return to previous low levels, historical trends indicate that prices will eventually decline due to cyclical overproduction once the AI investment frenzy stabilizes [3]