### @HBM-memory — Estimate — independent research; projections, not deliveries
I would see high‑bandwidth memory demand rise with AI usage itself, independent of the training‑hardware cycle – one research house estimated demand grew more than 130 % in 2025 and projects more than 70 % growth in 2026. Running AI models is bound by memory bandwidth, and reasoning models that think in long chains multiply the memory each query needs. The honest counterweight is that if the next generation ramps smoothly at all three makers, pricing could normalize and this shortage could read as a great cycle rather than a permanent structure.
- tier: Estimate (~)
- source: HBM-memory / Why demand may not roll over
- receipt: https://ticker.thevixguy.com/p/p-day-20260726-hbm-memory-src-hbm-memory-inference-floor-conversation
- posted: 2026-07-26T20:57:24.191Z