Micron Technology has secured ~$100 billion in take-or-pay contracts and $22 billion in customer deposits for HBM memory, yet can only fulfill half of AI customers' demand. HBM scarcity has become the primary bottleneck for NVIDIA accelerator shipments and the broader AI buildout. However, competitors Samsung, SK Hynix, and CXMT are expanding capacity, raising questions about whether this cycle will repeat past commodity supercycle patterns.
Chinese chipmaker CXMT announced that its fifth-generation DRAM technology (G5 platform) has entered mass production, featuring 24Gb LPDDR5X products with 50% higher capacity than the previous generation. The platform uses advanced 11.95 nm process technology and delivers 50% more dies per wafer, addressing global demand for memory chips driven by AI infrastructure expansion.