Overview
- Analysts reported in late June that AI data centers are consuming a disproportionate share of HBM and LPDDR5X output, prompting chipmakers to prioritize high‑margin server memory over consumer DRAM and NAND.
- A Jefferies‑linked forecast highlighted steep sequential rises ahead, projecting very large quarter‑on‑quarter price jumps through the rest of 2026 and sustained increases into 2027 with easing expected only in 2028.
- Spot markets already showed acute stress in Q2 2026, with research from SigmaIntel and others documenting consumer DRAM and NAND jumps as large as roughly 50–89% quarter‑over‑quarter and big SSD price gains.
- Long contracts and prepayments by major cloud providers are locking 50–70% of available output, which analysts say tightens supply for PC, smartphone and console makers and forces OEMs to raise prices or cut specs.
- Small signs of moderation include ASUS saying it expects only single‑digit PC price bumps in Q3 and reports that SK Hynix may redeploy some lines toward conventional DRAM, but those moves are limited and unlikely to reverse the broader tightness before 2028.