公众号记得加星标⭐️，第一时间看推送不会错过。 三星股价在首尔交易时段上涨3.6%，收于104,100韩元（约合72.90美元）。三星在 一份声明中表示："展望2026年，存储业务将专注于量产性能差异化的HBM4产品，同时致力于扩大 HBM的销售规模。" 得益于高性能HBM芯片需求的强劲复苏，三星存储业务公布截至9月底的三个月内，季度营收创下 26.7万亿韩元的历史新高。 来 源： 内容来自半导体行业观察综合 。 三星电子在第三季度开始向英伟达公司交付期待已久的HBM3E芯片后，其下一代HBM4芯片明年的 产量已全部售罄，这凸显了全球内存市场在人工智能服务器需求激增的推动下强劲复苏。 这家韩国内存巨头周四表示，其HBM3E芯片"目前正在量产并已售予所有相关客户"，证实其第五代 高带宽内存已成功交付给英伟达。 韩国《经济日报》9月份曾报道，三星已通过英伟达对其12层HBM3E产品的认证测试，这是该公司长 期以来梦寐以求的里程碑。 三星还表示，已向主要客户交付了下一代HBM4芯片的样品进行质量测试，并暗示其即将推出的第六 代产品需求强劲，指出明年HBM芯片的预订量已超过其计划产量。 三星存储业务执行副总裁金在俊在 ...

Core Viewpoint - Micron Technology, as the largest computer memory chip manufacturer in the U.S., has provided an optimistic quarterly performance outlook driven by demand for artificial intelligence devices, indicating a significant role in AI investments [1][4]. Group 1: Financial Performance - For the first quarter of the fiscal year, Micron expects revenue of approximately $12.5 billion, exceeding analysts' average estimate of $11.9 billion [1]. - The projected earnings per share (EPS) is around $3.75, higher than the market's previous estimate of $3.05 [1]. - In the fourth quarter of the fiscal year, Micron reported a 46% year-over-year revenue increase, reaching $11.3 billion, surpassing market expectations of $11.2 billion [3]. Group 2: Product Development - Micron is making progress with its HBM4 12-Hi DRAM solution, which offers over 11 Gbps pin speed and 2.8 TB/s bandwidth, claiming it will outperform competitors in performance and efficiency [1]. - The company plans to collaborate with TSMC to produce the next-generation HBM4E memory, expected to launch in 2027 [2]. - Micron is also focusing on LPDDR memory for data centers, becoming the sole supplier of LPDDR DRAM in this sector, and is working on GDDR7 memory with expected pin speeds exceeding 40 Gbps, a 25% increase from the initially announced 32 Gbps [2]. Group 3: Market Dynamics - Micron anticipates that the supply tightness of memory chips will continue into next year due to growing demand from data center equipment and AI-related businesses [4]. - The company plans to increase capital expenditures to meet market demand, with investments in facilities and equipment reaching $13.8 billion in fiscal year 2025 [4]. - Micron's CEO highlighted the unique advantage of being the only U.S.-based memory manufacturer in capturing AI opportunities, with data center business reaching historical highs [3]. Group 4: Competitive Landscape - Micron has narrowed the gap with market leader Samsung in the HBM sector, launching products closely aligned with NVIDIA's AI processors [5]. - Analysts have expressed optimism about Micron's growth potential in the data center market, leading to significant stock price increases [5].

Core Viewpoint - The introduction of NVIDIA's Rubin CPX GPU, which opts for GDDR7 memory instead of the traditional HBM, raises questions about the future of HBM in AI applications and its potential threats from more cost-effective memory solutions [1][7]. Group 1: Rubin CPX GPU Overview - The Rubin CPX GPU was launched on September 10, 2023, specifically designed for long-context AI workloads, emphasizing a new inference acceleration concept called "disaggregated inference" [2]. - This GPU is not a simplified version of the standard Rubin GPU but is deeply optimized for inference performance, indicating a shift in focus from training to inference in AI applications [2][4]. - The Rubin CPX GPU is expected to provide up to 30 PFLOPs of raw computing power with 128 GB of GDDR7 memory, contrasting with the standard Rubin GPU's 50 PFLOPs and 288 GB of HBM4 memory [3]. Group 2: Architectural Differences - The architectural differences between Rubin CPX and standard Rubin GPU highlight a focus on task specialization, with Rubin CPX handling context construction and Rubin GPU managing generation tasks [5][9]. - The overall performance of the system with Rubin CPX is projected to reach 8 ExaFLOPs NVFP4, significantly surpassing previous models [4]. Group 3: Memory Transition and Implications - The shift from HBM4 to GDDR7 is driven by the need to reduce costs while maintaining performance, as GDDR7 provides sufficient bandwidth for the context-building tasks of the Rubin CPX GPU [9]. - This transition is expected to lower the total cost of systems, making AI infrastructure more accessible to a broader range of enterprises [9]. - The demand for GDDR7 is surging, with NVIDIA increasing orders from suppliers like Samsung, which is expanding production capabilities to meet this demand [10][12]. Group 4: Market Dynamics and Future Outlook - The introduction of GDDR7 is seen as a potential threat to HBM, but it also opens new opportunities for memory suppliers, particularly Samsung, which is poised to benefit from increased orders [10][12]. - SK Hynix has announced the completion of HBM4 development, indicating that while GDDR7 is gaining traction, HBM technology continues to evolve and remain relevant in the market [13].

Market Overview - On September 12, the storage sector experienced a significant opening surge, with companies like Deminor hitting the daily limit, and others such as Dongxin Co., Jiangbolong, and others seeing substantial increases [1] Company Insights - **Xingsen Technology (002436.SZ)**: A pioneer in the domestic IC packaging substrate industry, with applications in mobile memory modules [3] - **Deminor (001309.SZ)**: Transitioning from losses and planning to reduce holdings; has established a comprehensive storage product matrix including mobile storage and solid-state drives [3] - **Dongxin Co. (688110.SS)**: One of the few companies in mainland China providing a full range of storage chips including NAND Flash, NOR Flash, and DRAM [3] - **Jiangbolong (301308.SZ)**: A leading domestic storage module company, with memory products covering mainstream types like LDDR memory modules [3] - **Beiyi Innovation (603986.SS)**: A leader in the storage field, focusing on the development and sales of memory chips and microcontrollers, ranking first globally in non-foundry Flash supply [3] Industry Trends - Major US storage leaders like Micron and SanDisk saw collective gains, with SanDisk announcing a 10% price increase across all channels for consumer products, indicating a potential new pricing cycle due to changing supply-demand dynamics [5][6] - The global DRAM market size increased approximately 17% quarter-on-quarter to $30.9 billion in Q2 2025, driven by the rise of generative AI and increasing demand for DRAM contracts and HBM shipments [6] - Nvidia's launch of the RubinCPX GPU aims to enhance speed in handling massive data, utilizing GDDR7 memory, which could lead to increased demand for DRAM [5][6] - The establishment of Changchun's third phase company marks a significant step in China's semiconductor industry, potentially breaking the monopoly of Samsung and SK Hynix in the NAND market [6]