Samsung exec dropped an important data point: HBM is set to eat up nearly 30% of total DRAM wafer capacity next year, up from ~20% now.

This isn't just a capacity shift — it's a squeeze. HBM and standard DRAM fight for the same fab space. More HBM means tighter supply for commodity DRAM.

Supply-demand dynamics are shifting fast. If AI demand stays hot and HBM keeps taking share, standard DRAM pricing could firm up even without a traditional upcycle.

Watch the memory names closely. This kind of mix shift usually shows up in margins before it shows up in headlines.

$DRAM