HBM demand · X 热门 · 2026-09-20 05:12 UTC

# HBM demand — X 热门讨论 (2026-09-20 05:12 UTC)

## @MentoviaX (MentoviaX) · 09-19 20:03 · ♥33 ↻7 💬0 $MU Citi now expects memory undersupply to worsen through 2031 as “continual learning” makes AI memory demand less episodic. For Micron, that would broaden the opportunity beyond HBM attached to accelerators. Models that are continually updated can consume HBM during compute, server DRAM while processing data, and SSD capacity to hold growing datasets and checkpoints.

That matters because Micron sells into all three layers. If Citi’s forecast is directionally right, the company would be serving one workload through multiple products rather than depending on a single hot category.

The uncertainty is also obvious. Continual learning at this scale is still a forecast, not an established deployment pattern. But extending the shortage case to 2031 changes the timing of Micron’s expansion. Fabs arriving later this decade would enter a market Citi still expects to be undersupplied, rather than one that has already normalized. That gives Micron more time to earn on new capacity before supply catches up. https://x.com/MentoviaX/status/2101401799454581241