HBM Price per GB by Generation

Source: 서울경제 (Seoul Economic Daily), Oct 1, 2026 · Basis: contract, per stack · Estimate

First per-stack print for CY2027 HBM4 supply; same sentence puts this year at about $600/stack (≈ $16.67/GB), consistent with the Jan 2026 expectation (>$16.67/GB). [$1,300/stack / 36 GB (12-hi HBM4) = $36.11/GB.] | Original (located 2026-10-02): 서울경제 (Seoul Economic Daily), 2026-10-01 17:56 KST, 「“내년 HBM 평균판매가 121% 오를 것”…삼성·SK, 가격 협상 청신호」 — hedged as 업계 추정치를 종합하면 (a synthesis of unnamed industry estimates) and 1300달러 안팎 (around $1,300). English rendering of the stored sentence: "Synthesizing industry estimates, the per-stack price of 12-Hi 36GB HBM4 is expected to more than double, from about $600 this year to around $1,300 next year." The paper's English edition (en.sedaily.com, same timestamp) carries the same figures. Single-outlet figure: Ajunews (2026-09-30), Aju Press, ChosunBiz and S-Journal (2026-10-01) report TrendForce's 2027 outlook and Micron's sold-out FY2027 but print no per-stack price. Not to be confused with TrendForce's +121% in the same article — a 2027 BLENDED average selling price (mix-driven, a different basis), kept in external forecasts, not in this series.

“업계 추정치를 종합하면 12단 36GB(기가바이트) HBM4의 스택당 가격은 올해 약 600달러에서 내년 1300달러 안팎으로 두 배 넘게 오를 것으로 예상된다.”

Source: Silicon Analysts model (blend of this series' own verified prints), Jul 2026 · Basis: contract, per stack · Estimate

Full note with Pro

Source: 서울경제 (Seoul Economic Daily), Dec 26, 2025 · Basis: contract, per stack · Estimate

Merged duplicate Samsung-renewal points into one; >50% hike = Samsung rebasing from its discounted ~$300 level toward SK Hynix parity, consistent with the ~20% industry hike. ['Close to $500' per 12-hi 36GB stack: $500/36GB = $13.89/GB (low $450/36 = $12.50). Prior 'around $300' = $8.33/GB. If figures are 8-hi 24GB stacks, $500/24GB = $20.83/GB (ambiguity flagged).] | Original (located 2026-09-14): 서울경제 (Seoul Economic Daily), 2025-12-26 17:43 KST — hedged as 업계에 따르면 / 파악됐다 (according to industry sources; found to be). English rendering of the stored sentence: "HBM3E 12-Hi is understood to be around the $300s per chip, and companies that recently renewed are found to be paying prices in the $500s." The original reports that both Samsung and SK hynix are quoting 50%+ higher prices to existing customers on HBM3E 12-Hi renewals; the relay narrowed this to Samsung, which this point's label still reflects. | Ruled 2026-09-15: relabelled - the print covers both vendors' HBM3E 12-hi renewals, not Samsung alone.

“HBM3E 12단은 칩당 약 300달러대로 알려져 있는데 최근 재계약한 기업들은 500달러대 가격을 지불하는 것으로 파악됐다.”

Source: 딜사이트 (Dealsite), Nov 27, 2025 · Basis: contract, per stack · Estimate

Samsung HBM4 to NVIDIA at mid-$500/stack — near SK Hynix parity after its ~30% HBM3E discount; mid corrected $13.89-to-$15.28 per the article's 'mid-$500' wording. ['Mid-$500' ≈ $550/module / 36 GB = $15.28/GB (span $525-550 = $14.6-15.3). CORRECTED in verification from $500-flat reading ($13.89).] | Original (located 2026-09-14): 딜사이트 (Dealsite), 2025-11-27 07:00 KST — hedged as 회사 사정에 정통한 관계자 (a person familiar with the company). English rendering of the stored sentence: "Having offered Nvidia a comparatively low price on the previous HBM3E 12-Hi, Samsung is negotiating with the aim of contracting HBM4 at the same unit price as SK hynix." The original states no dollar figure for Samsung's HBM4: it reports Samsung negotiating to match SK hynix's unit price, which the same article puts at 약 500달러 중반대. The relay chain presented this as Samsung's price; this point's dollar level is that SK hynix figure. Corroboration retained from the prior attribution: Digitimes / Seoul Economy News. | Ruled 2026-09-15: typed Estimate, not Confirmed - the original prints no Samsung figure; the parity level is a negotiating target, so this point carries SK Hynix's agreed level as Samsung's target.

“전작인 HBM3E 12단은 엔비디아에 비교적 낮은 가격을 제시했지만, HBM4는 SK하이닉스와 동일한 단가에 계약하는 것을 목표로 협상에 임하고 있다”

Source: 딜사이트 (Dealsite), Nov 27, 2025 · Basis: contract, per stack · Estimate

Per-stack Dealsite LTA figure divided by 36GB; cleanest independent late-2025 HBM3E contract anchor. [Mid-$300s per 12-hi 36GB stack: $350/36GB = $9.72/GB (range $330-370/36 = $9.17-10.28).] | Original (located 2026-09-14): 딜사이트 (Dealsite), 2025-11-27 07:00 KST — hedged as 알려졌다 (reported; unnamed industry sources). English rendering of the stored sentence: "SK hynix's HBM3E 12-Hi price is reported to be in the mid-$300s, while Samsung's HBM3E is in the mid-$200s." This point takes the SK hynix mid-$300s level (read as $350/stack) from that sentence.

“SK하이닉스의 HBM3E 12단 가격이 300달러 중반대 수준인 반면 삼성전자의 HBM3E 제품은 200달러 중반대 수준으로 알려졌다.”

Source: 헤럴드경제 (Herald Economy), Aug 7, 2025 · Basis: contract, per stack · Estimate

SK Hynix-NVIDIA (Vera Rubin) initial negotiation quote; per-stack stated, $/GB computed — claim_type adjusted stated-to-derived in verification per dataset convention. [$500/stack / 36 GB (12-hi HBM4) = $13.89/GB. Korean '$500 range' may span $500-599; floor used.] | Original (located 2026-09-14): 헤럴드경제 (Herald Economy), 2025-08-07 08:22 KST — hedged as 알려지면서 / 후문이다 (reported; unnamed industry sources). English rendering of the stored sentence: "It then emerged that the HBM4 12-Hi price had been set at $500, about 70% above HBM3E ($300), and Nvidia is said to have balked." This point takes the HBM4 $500 quote from that sentence; the original says 약 70% (about 70%), which the relay rendered as 60-70%. Herald Economy is the earliest Korean report our verifier could read; the English relay credits Chosun as first but does not link it, and that page is not reachable by our tools.

“그러다 최근 HBM4 12단의 가격을 HBM3E(300달러)보다 약 70% 비싼 500달러로 책정한 것으로 알려지면서 엔비디아가 난색을 표했다는 후문이다.”

Source: Silicon Analysts seed series (carried), carried seed · Basis: revenue-implied · Estimate

Carried seed; independently matches Goldman's stated $15/GB 2025 HBM3E base level (Nov 2025 report).

Source: TrendForce, Oct 2024-Jul 2025 (revenue), Sep 2025 (bits) · Basis: contract · Estimate

“Goldman Sachs has revised its HBM total addressable market (TAM) estimates, raising 2025 forecast slightly by 1% to US$36 billion, but cutting 2026 outlook by 13% to US$45 billion (previously US$51 billion).”

Full note with Pro

Source: AI Frontiers ('High-Bandwidth Memory: The Critical Gaps in US Export Controls'); volumes corroborated by SemiAnalysis (11.4M stacks total to China), Feb 2026 (event: Dec 2024) · Basis: contract · Estimate

Only volume-times-value HBM2E observation ever published; 16GB stack capacity is an external spec constant, division disclosed. [$1.0B / 7,000,000 stacks ≈ $143/stack; Samsung HBM2E stacks to China were 16GB (Ascend 910B/910C class): $143 / 16 GB ≈ $8.9/GB. 'Over $1 billion' makes this a floor, hence value_low = mid.]

Source: Silicon Analysts model on KED Global (SK hynix stated direction) + Mirae Asset + TrendForce anchors, May 2024 · Basis: contract · Estimate

Full note with Pro

Source: TrendForce, Oct 24, 2024 (revenue; date corrected from Feb 2025) · Basis: contract · Estimate

Doubly-confirmed revenue divided by TrendForce bit chains; spread driven by which bit statement is used. [HBM 2024 revenue $18.2B (stated; also 20.1% x $90.7B DRAM = $18.2B exact cross-check) / bits 8.8-12.6B Gb (TrendForce chains) = $11.6-16.5/GB; central bits 10.7B Gb = $13.6/GB.] | Original (located 2026-09-16): TrendForce press release 2024-07-22, "Memory Industry Revenue Expected to Reach Record High in 2025 Due to Increasing Average Prices and the Rise of HBM and QLC", https://www.trendforce.com/presscenter/news/20240722-12228.html — the release that prints the $90.7B 2024 DRAM revenue this point's cross-check divides, and which separately states "HBM is expected to contribute 5% of DRAM bit shipments and 20% of revenue in 2024". The 20.1% HBM revenue share used in the cross-check is from the companion release 2024-03-18, https://www.trendforce.com/presscenter/news/20240318-12081.html ("HBM's revenue share within the DRAM industry — around 8.4% in 2023 — is projected to increase to 20.1% by the end of 2024"), and the bit-share chain from 2024-05-06, https://www.trendforce.com/presscenter/news/20240506-12125.html. What the dropped relay carried that no public TrendForce release does: the stated $18.2B 2024 HBM revenue was given by Avril Wu at TrendForce Roadshow Korea (Seoul) and reported by TweakTown on 2024-10-24, which is the date this row's source_date still names; it is not in any TrendForce press release our verifier could reach, and the public cross-check above (20.1% x $90.7B = $18.2B) is what now stands behind the figure.

“TrendForce estimates that benefiting from an increase in average DRAM prices by 53% in 2024 and 35% in 2025, DRAM revenue will reach US$90.7 billion in 2024—a 75% YoY increase—and $136.5 billion in 2025—a 51% YoY increase.”

Source: Silicon Analysts seed series (carried), carried seed · Basis: contract · Estimate

Carried seed point; DRAM downcycle trough predating post-ChatGPT contract resets, coherent below the 2023 annual contract level.

Source: Silicon Analysts seed series (carried), carried seed · Basis: contract · Estimate

Carried seed point; matches the $10.8/GB 2022 blended-ASP back-solve within modelled tolerance.

Source: Silicon Analysts model (anchors: TechInsights Dec 2019 via SemiEngineering; TrendForce FMS 2025 blended ASP $1.40/Gb 2022), Jul 2026 (model) · Basis: contract · Estimate

Mid corrected $8.5 to $10.0 in verification: packaged level (what Nvidia pays) belongs at the mid, per 2022 blended-ASP back-solve. [Anchor $120 per 16GB stack = $7.50/GB pre-packaging (low bound); mid set at ~$10/GB packaged, per the verified TrendForce 2022 blended-ASP back-solve (HBM2E ~$10.5-11/GB packaged in 2022; 2021 contract-locked and similar).]

Source: Silicon Analysts seed series (carried), carried seed; anchors Dec 2019 · Basis: contract · Estimate

Carried seed point; consistent with TechInsights $7.50/GB pre-packaging Q4-2019 anchor plus a modest packaging adder.

Source: Fudzilla (corroborated by GamersNexus industry sources), May 2017 · Basis: contract · Confirmed

Fudzilla $80/4GB stack headline; GamersNexus multi-vendor corroboration (Kanter $150+$25). Publication date corrected to May 2017. [$80 per 4GB stack / 4 GB = $20.00/GB. GamersNexus industry sources: ~$150-160 for 8GB (2 stacks) plus ~$25 interposer, i.e. $18.75-20/GB before interposer.]