September 23, 2025 – The global memory market is entering a new growth phase, driven by the rapid expansion of AI data centers. Samsung Electronics and SK Hynix are moving aggressively to capitalize on this trend through performance breakthroughs in high-bandwidth memory (HBM) and significant price increases across DRAM and NAND products.

KB Securities: Samsung Earnings to Outperform

According to KB Securities, Samsung’s semiconductor earnings are set to exceed expectations, supported by strong demand for AI-driven memory. The firm raised its target price to KRW 110,000 while maintaining a “Buy” rating.

   *  Net profit forecast:

         *  2024: KRW 34 trillion (+16.1%)

         *  2025: KRW 52 trillion (+24.4%)

   *  Operating profit: Samsung’s semiconductor division is expected to deliver KRW 20.8 trillion in 2H 2024, a 33% YoY increase.

Samsung is positioned to gain an advantage in HBM4 adoption for NVIDIA’s upcoming Rubin GPUs. By combining 1c DRAM with 4nm logic chips, Samsung’s HBM4 is projected to achieve 11Gbps, setting the highest performance benchmark in the market.

Additionally, the successful qualification of Samsung’s 12-layer HBM3E and the expansion of potential HBM4 supply are expected to boost visibility with major customers, including AMD, Broadcom, Amazon, and Google.

Memory Price Hikes: Samsung and SK Hynix

In response to tightening supply, Samsung has informed customers that it will raise memory prices:

   *  DRAM: up to +30%

   *  NAND: up to +10%

SK Hynix is expected to follow suit as market conditions support higher pricing. Industry peers are also adjusting prices: SanDisk increased NAND by 10% earlier this month, while Micron is preparing similar adjustments.

Market Dynamics: AI Driving Structural Shifts

The surge in AI data center demand has reshaped the memory supply landscape:

   *  Leading manufacturers are diverting capacity to HBM production, tightening supply of general-purpose DRAM.

   *  DDR4 products are facing shortages as legacy lines approach end-of-life, leading to price spikes.

   *  In NAND, AI applications requiring high-capacity eSSDs are accelerating the shift away from HDDs.

Market Outlook: DRAM Demand to Triple by 2030

Market research firms expect AI servers to drive exponential DRAM demand:

   *  Average DRAM per AI server:

         *  2024: 1TB

         *  2030: 2.5TB (+150%)

   *  Data center DRAM market revenue:

         *  2024: $48 billion

         *  2030: $154 billion (≈70% of total DRAM market)

Conclusion

Samsung and SK Hynix are well-positioned to lead the next cycle of memory growth. With AI data centers fueling record demand, HBM innovations and strategic price hikes are set to lift profitability and reinforce market leadership.