SK Hynix Dominates Over Half of HBM Market...Outpaces Micron (MU) and SanDisk (SNDK)

▲ SK Hynix, Micron (MU), SanDisk (SNDK)/AI Generated Image

SK Hynix maintained a market share in the high 50% range in High Bandwidth Memory (HBM), a key component of the artificial intelligence (AI) memory market, surpassing Micron Technology (MU) and Sandisk (SNDK).

According to Nasdaq on August 5 (local time), SK Hynix (SKHY) recorded a market share in the high 50% range in the HBM market in early 2026. HBM is a high-value memory that rapidly supplies large-scale data alongside AI accelerators. SK Hynix maintained its market leadership by securing certification for Nvidia's (NVDA) new products ahead of its competitors, Nvidia being its largest buyer.

Early dominance in HBM led to pricing power and profitability. Companies building AI systems prioritize securing supply over price. SK Hynix captured the HBM market, which is experiencing the fastest growing demand and high profitability, securing the highest level of profitability in the memory industry. However, its market share decreased from approximately two-thirds a year ago to the high 50% range.

Micron raised its HBM market share to approximately 20%, surpassing Samsung Electronics to claim the second position. Micron produces not only HBM but also DRAM and NAND flash, thereby simultaneously absorbing AI demand and the overall rise in memory prices. The company stated that its HBM production volume has been virtually sold out for a significant period. The possibility of the gap between SK Hynix and Micron narrowing again in the next-generation HBM4 market has been raised.

SanDisk is focusing on NAND flash for data storage instead of HBM. As data generated and processed by AI models rapidly increases, prices for enterprise NAND have also risen sharply. SanDisk has nearly doubled the prices of some large-capacity storage devices, and the proportion of NAND shipments accounted for by AI servers continues to expand.

However, NAND flash is more difficult to differentiate than HBM, and price fluctuations due to increased supply are also significant. The memory market has repeatedly experienced cycles of demand surges followed by oversupply due to expanded production facilities. While SK Hynix currently leads the most profitable HBM market, competitors' expansion and the transition to HBM4 are key variables that will determine future market share.

[Article Key Summary]

-SK Hynix maintained its lead in the HBM market in early 2026, recording a market share in the high 50% range.

-Micron increased its market share to approximately 20%, rising to second place, while SanDisk is benefiting from rising NAND prices driven by AI storage demand.

-Competition in next-generation HBM4 and the expansion of new supply are variables that will determine SK Hynix's market dominance.

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