存储芯片，怪像百出

Core Insights - The memory price increase has led to a shift in supply contract negotiations, moving from long-term to short-term agreements and introducing a "post-settlement pricing" concept that reflects market prices instead of fixed prices determined through negotiation [2][3] Group 1: Contract Changes - Major memory manufacturers like Samsung, SK Hynix, and Micron are signing new supply contracts that incorporate post-settlement pricing mechanisms to address price surges [2] - Traditionally, DRAM and NAND contracts would set fixed prices for a year, with minor adjustments of around 10% during the contract period. However, new contracts allow for significant price adjustments even after the contract ends [2] - The trend is shifting towards quarterly or even monthly contracts, as suppliers are reluctant to commit to long-term agreements due to price volatility and limited supply [4] Group 2: Customer Dynamics - Major clients, particularly large North American tech companies, prioritize securing memory supply over the terms of the contract, even if it means incurring additional costs later [3] - There is a growing demand for long-term contracts (over one year) to ensure stable memory supply for AI infrastructure expansion, but suppliers are hesitant to lock in prices due to potential missed opportunities with other clients [3][4] Group 3: Market Outlook - The supplier-driven contract signing model is expected to persist until the second half of the year, when the upward trend in memory prices is anticipated to slow down [4]