The memory market is entering a new era. This is not another cycle of ups and downs as we have seen in previous years. This is something bigger. A structural shift that is shaking the entire semiconductor sector and setting new rules for the game.
Micron, one of the DRAM giants, openly speaks of an unprecedented memory shortage that will extend well beyond 2026. The problem does not lie in personal computers or smartphones. The source of the disruption is data centers and AI infrastructure. Here, HBM and advanced DRAM chips are worth their weight in gold and demand is growing exponentially with each new generation of AI models.
Memory production for AI is absorbing a massive portion of global manufacturing capacity. The rest of the market, from PCs to smartphones, is left in the shadows and must compete for what remains. This is not a temporary disruption. This is a lasting structural supply gap that could grow to a scale we have never seen before.
Micron’s decision to acquire the PSMC factory in Taiwan for 1.8 billion dollars sends a clear signal. The company is not building a new factory from scratch, which would take years. It is buying ready-made infrastructure and securing its position at the heart of global memory production. The effects will only become visible in the second half of 2027, which means supply pressure will persist for several more quarters.
The market is already factoring this in. Hardware manufacturers are securing memory deliveries for 2026 and 2027. DRAM and HBM prices remain under upward pressure, and bargaining power is clearly shifting in favor of memory producers. AI is not a one-off demand spike. Each new generation of models increases demand faster than production capacity can keep up.
For investors, this means one thing. Memory producers’ margins could remain high for many years, and the traditional narrative of market cyclicality no longer applies. This is not a typical boom. This is a new market regime in which memory becomes a strategic resource.
For the semiconductor market, 2026 and the years that follow will look completely different from anything we have seen before.
Source: xStation5
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