On June 18th, Gelonghui reported that according to **** media, the storage chip supply chain revealed that the upstream storage plant's HBM orders for 2025 are already fully booked, and the order visibility can reach the first quarter of 2026. SK Hynix and Micron's HBM were sold out in advance in 2024, and the orders for 2025 are also close to full capacity. The total supply of HBM to Nvidia is estimated to be more than 60,000 pieces per month. However, HBM has squeezed too much DRAM production capacity, which will inevitably push up the price of DDR5 gradually. Module factories believe that the DDR5 price will continue to rise, and it is expected to increase by 10 to 20% before the end of the year. However, if the DDR5 price is too high, it may instead delay market penetration rate and affect the willingness of downstream customers to adopt it.
供应链：存储原厂HBM订单2025年预订一空 订单能见度可达2026年Q1
Supply Chain: Storage original HBM orders are fully booked until 2025, and order visibility can reach Q1 2026.
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