HBM4 squeezes DRAM supply as Samsung, SK Hynix inventories fall below 10 days

The surge in HBM4 demand is triggering a cascading effect across the memory supply chain, with Samsung and SK Hynix inventories dropping below 10 days’ supply, underscoring the strong pull from AI infrastructure investments. Technologically, this intensifies pressure on EUV lithography and 3D packaging capabilities, especially in high-bandwidth memory. From a compliance standpoint, manufacturers in Taiwan and Hong Kong, China face escalating export control risks, driving up operational costs. In response, global players like Micron and Kioxia may accelerate production capacity in Asia to mitigate geopolitical exposure. Over the next 12–24 months, sustained AI investment will likely sustain supply-demand imbalances, pushing the industry into a ‘technological shortage phase’ that will compel vertical integration across the semiconductor ecosystem.