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AI Boom Reshapes Memory Market, Ending Boom-Bust Cycle

Long-term supply deals replace spot buying, signaling years of tight capacity.

Overview

  • Industry leaders say AI demand has structurally broken the old boom-bust pattern for memory, with prices holding firm.
  • HPE CEO Antonio Neri says the company will keep raising prices because supply cannot meet demand.
  • SK Hynix and Micron report customers shifting to multi-year contracts as hyperscalers seek to lock in capacity.
  • Broadcom says it has secured memory supply through 2028, and Meta voices concern over high-bandwidth memory availability while expecting to meet its build plans.
  • TrendForce projects about a 90% quarter-on-quarter surge in server DRAM prices for Q1 2026, and Seagate labels sustained hikes the new normal.