Summary of Conference Call on Customized Storage and 3D DRAM Technology Industry Overview - The conference focuses on the **3D DRAM** industry, particularly advancements in **Processing in Memory (PIM)** technology and its integration with DRAM [1][3][20]. Key Points and Arguments PIM Technology - **Samsung** is actively promoting PIM technology, integrating it directly with DRAM at the DDR level, which is expected to become a development hotspot [1]. - **SK Hynix** is also pushing related protocols, with potential adaptations from **Qualcomm** and **MTK** [1][3]. - PIM optimizes bandwidth requirements for large model inference by placing the most bandwidth-demanding components within memory [1][6]. 3D DRAM Market Dynamics - **Changxin Semiconductor** dominates the domestic 3D DRAM market with strong competitiveness and high user stickiness, potentially becoming a de facto standard [1][7]. - Current mature technology supports up to **8 layers** of stacking, with bandwidth sweet spots around **1-2TB** [9]. - The cost structure indicates that DRAM manufacturers capture the highest value in the customized storage segment, with costs exceeding **50%** of chip expenses [14][15]. Technical Comparisons - **PIM vs. Traditional SOC**: PIM offers high internal bandwidth but does not significantly enhance the main SoC's bandwidth, as it offloads bandwidth-intensive tasks to DRAM [6]. - **3D DRAM vs. Standard DDR4**: 3D DRAM uses Die-to-Die or Wafer-to-Wafer packaging, imposing limitations on SoC size and power consumption, contrasting with traditional DIMM designs [8]. Industry Players and Competitiveness - Domestic players include **Changxin** and **Changchun**, with Taiwanese firms like **Nanya** and **Micron** having higher demand for 3D DRAM but lower technical capabilities [5]. - **Wuhan Xinxin** employs advanced packaging technology (XSTACK) but lacks its own fab, limiting large-scale production [26][27]. Future Trends and Challenges - The integration of **HBM** (High Bandwidth Memory) and 3D DRAM is anticipated, with HBM being favored for high bandwidth and cooling efficiency in GPU applications [20][21]. - The potential for customized storage to replace HBM is limited due to inherent advantages of HBM in capacity and thermal management [21]. - The market for customized storage is expected to grow, but prices may not significantly drop until production scales and technology matures [31]. Application and Market Demand - Different end-user devices (e.g., smartphones, PCs, automotive) have varying requirements for storage and computing products, with smartphones demanding low power and compact designs [22][23]. - The timeline for seeing related products in the consumer market is projected for early to mid-next year, with AI PCs expected to lead the way [24]. Conclusion - The 3D DRAM and customized storage market is evolving with significant technological advancements, competitive dynamics, and varying application needs. The interplay between PIM, HBM, and traditional DRAM solutions will shape future developments in the industry [34].