NAND flash is also being pulled into the AI boom. High-capacity enterprise SSDs are increasingly being used for model storage, data staging and key-value cache offloading, allowing colder portions of AI workloads to spill out of expensive DRAM. Flash cannot replace DRAM outright because it offers considerably lower bandwidth, but it can still serve as a tier within AI memory systems, increasing demand for enterprise SSDs and NAND alongside server memory.
Chang expects DRAM contract prices to rise by approximately 30% during the third quarter of 2026 and NAND flash to increase by more than 20%. He expects price growth to moderate again during the fourth quarter.
Elsewhere, analysts project a 40% increase in DRAM prices in Q3 2026 , even as demand extends to the oldest standards still in production. Samsung and SK Hynix, both South Korean companies — who together with US-based Micron Technologies control over 90% of the global DRAM market — had earlier warned that shortages could last beyond 2027 . And the CEO of Adata projects that the global DRAM shortage will run for another 10 years .
Chinese manufacturers are not expected to provide immediate relief. Chang said Chinese memory maker CXMT’s DDR5 products had become competitive and that both CXMT and Chinese NAND producer YMTC had narrowed their pricing gaps with established international suppliers. However, domestic demand in China already exceeds available supply, while capacity expansion, manufacturing yields, product validation and platform compatibility continue to limit their ability to change the global balance. Furthermore, the prices of new DRAM modules from CXMT are reportedly similar to those of the big three .
Stockpiling memory inventory at historically high prices carries the risk of substantial losses if the market suddenly reverses. Apacer, however, says it has seen no evidence of an approaching collapse. For now, the company is betting that possessing expensive memory in 2027 will be considerably better than having no memory to sell at all.
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Etiido Uko is a news contributor for Tom's Hardware covering the latest updates in big tech and the PC industry. He is a mechanical engineer and senior technical writer with over nine years of experience in documentation and reporting. He is deeply passionate about all things engineering and technology, and is an expert in gadgets, manufacturing, robotics, automotive, and aerospace. ","collapsible":{"enabled":true,"maxHeight":250,"readMoreText":"Read more","readLessText":"Read less"}}), "https://slice.vanilla.futurecdn.net/13-4-25/js/authorBio.js"); } else { console.error('%c FTE ','background: #9306F9; color: #ffffff','no lazy slice hydration function available'); } Etiido Uko Social Links Navigation News Contributor Etiido Uko is a news contributor for Tom's Hardware covering the latest updates in big tech and the PC industry. He is a mechanical engineer and senior technical writer with over nine years of experience in documentation and reporting. He is deeply passionate about all things engineering and technology, and is an expert in gadgets, manufacturing, robotics, automotive, and aerospace.
Moores_Ghost Most of us know the truth and aren't falling for these companies colluding to make max profit. It's not AI. It's not new data centers. This is pure, naked unmitigated greed. Even if I add the memory in smart weapons that are destroyed on impact, all AI and commercial and scientific building, video game hardware manufacturers together there's still around 40% of the world's RAM making capacity left. It's not pricing out foreign interest either as even China makes their own now. It is pure boardroom greed after record profits during COVID. They simply do not want to go back to making less money. Please, Tom's. You have a better reputation than this. Reply
Razzi16 Agreed. In late 2023 the memory manufacturers had decided that memory prices were too low, they colluded at that time to collectively reduce capacity over the next year, which would slowly push up the prices, and their profits. This was then compounded by them, last year, giving almost all of their remaining capacity over to the customers wanting HBM, then everything basically just fell off a cliff. They got what they wanted. Reply
SirStephenH Companies stockpiling memory, further increasing demand beyond what is needed at this time, is part of the problem. But of course it wouldn't be an issue if memory makers didn't collude to create this shortage to begin with. Reply
Key considerations
- Investor positioning can change fast
- Volatility remains possible near catalysts
- Macro rates and liquidity can dominate flows
Reference reading
- https://www.tomshardware.com/pc-components/ram/SPONSORED_LINK_URL
- https://www.tomshardware.com/pc-components/ram/dram-chip-supply-to-module-makers-could-drop-by-more-than-70-percent-year-on-year-in-2027-says-apacer-ceo-demand-for-hbm-and-server-ram-continues-to-devour-manufacturing-capacity#main
- https://www.tomshardware.com/subscription
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Informational only. No financial advice. Do your own research.