UBS says Nvidia cuts Rubin Ultra HBM yet boosts demand and prices - CHOSUNBIZ - Chosunbiz

UBS analysts suggest that although NVIDIA may reduce the amount of high bandwidth memory (HBM) in its next-generation AI accelerator Rubin Ultra, overall HBM demand in 2027 could still exceed forecast... Read original →

NVIDIA's adjustment of HBM capacity in its Rubin Ultra AI accelerator highlights structural supply chain pressures amid surging demand for advanced chips. By reducing HBM per unit, the company alleviates bottlenecks while increasing shipments, driving HBM ASP to rise 79%, surpassing earlier forecasts. This move reflects intensified competition among upstream suppliers like Samsung, SK Hynix, and Micron over HBM4 and HBM4E capacity. Technologically, modular and customizable HBM configurations are becoming industry norms, signaling a shift toward flexible chip design. Geopolitically, such adjustments mirror strategic responses to export controls and supply chain fragmentation amid U.S.-China tech rivalry. Competitors are likely to adopt similar tactics, escalating market competition for high-end memory. Over the next 12–24 months, sustained HBM price increases and supply chain resilience will define competitive advantage in the AI chip sector.