같은 실리콘, 다른 제품
HBM(고대역폭 메모리)은 실리콘 통과 비아로 8~16개의 DRAM 다이를 쌓아 GPU 또는 ASIC 옆에 결합합니다. DDR5 및 DDR4는 서버, PC 및 모듈에 판매되는 단일 다이입니다. 둘 다 동일한 세 공급업체에서 DRAM 웨이퍼로 시작하므로 동일한 팹 용량을 놓고 경쟁합니다.
HBM은 짧은 액셀러레이터 구매자 목록에 여러 분기에 걸쳐 할당되어 판매됩니다. DDR5 및 DDR4는 계약 및 공개 현물 보드에서 거래됩니다. 이것이 바로 여기의 HBM 수준이 보고되거나 공급망 보고에서 파생된 것으로 표시되는 반면 DDR5는 매일 별색 인쇄를 수행하는 이유입니다.
오늘의 보드에서 GB당 비용
HBM3 24GB: $8.31/GB. HBM3E 36GB: $58.56/GB. HBM4 48GB: $73.35/GB. DDR5 16Gb: $29.27/GB. DDR4 16Gb: $41.48/GB. GDDR6 16Gb: $5.81/GB.
These per-GB figures are derived: the published level divided by the part's capacity. The HBM3E and HBM4 levels are scarce-lot spot indications reported in September 2026, several times long-term-agreement pricing, so contract buyers pay materially less per GB than this line suggests. Read the HBM per-GB number as a ceiling, not a typical cost.
HBM 수요가 DRAM 가격을 높이는 이유
Each HBM bit uses roughly three times the wafer area of a DDR5 bit once stacking yield and the larger die are counted. Every wafer moved to HBM removes several times its HBM output from the commodity market. Suppliers have been moving wafers because HBM margins are higher, which is the core of the 2025–26 DDR5 and DDR4 squeeze.
The chart rebases every line to 100 so you can see which part moved first. Over longer windows the commodity lines have moved further than HBM: HBM is priced a year ahead under allocation, while spot DRAM reprices every session.
격차를 좁히거나 넓히는 것은 무엇입니까?
Downside first: consumer DRAM demand is soft under current prices, and DDR5 spot inquiries have slowed in September. If spot DRAM stalls while HBM allocation holds, the HBM-to-DDR5 ratio widens again. Extra HBM4 capacity at SK hynix, Samsung and Micron could also ease the scarce-lot HBM premium through 2027.
Upside: any accelerator build-out beyond current allocation keeps converting wafers and holds commodity DRAM tight. Watch a sustained negative 30-day print on HBM3, the oldest generation, as the first sign HBM pricing is softening.