tech Explainer
AI Ignites the Memory Chip Supercycle: Why HBM Demand Is Different This Time
LLM inference is memory-bandwidth-bound, not compute-bound. That makes HBM the critical bottleneck in AI accelerators, driving a supercycle that saw the memory semiconductor market grow 78% in 2024, with HBM capacity sold out through 2026 and the cycle projected to last into 2028.