HBM Memory Pricing and Specifications (2026)
Last updated: February 2026 ·
As of February 2026, HBM3 costs approximately $200 per 24GB stack, HBM3E costs ~$300 per 36GB stack, and next-generation HBM4 is expected at ~$500 per 48GB stack. SK Hynix leads with 50-55% market share.
HBM Specifications by Generation
| Generation | Capacity/Stack | Bandwidth/Stack | Cost/Stack | Cost/GB | Layers |
|---|---|---|---|---|---|
| HBM2e | 16 GB | 460 GB/s | $120 | $7.50/GB | 8-Hi |
| HBM3 | 24 GB | 819 GB/s | $200 | $8.33/GB | 12-Hi |
| HBM3E | 36 GB | 1.18 TB/s | $300 | $8.33/GB | 12-Hi |
| HBM4 (est.) | 48 GB | >2 TB/s | $500 | $10.42/GB | 16-Hi |
HBM Vendor Market Share
| Vendor | Market Share | Key Customers | Status |
|---|---|---|---|
| SK Hynix | 50-55% | NVIDIA, AMD | Leading supplier for H100/H200/B200 |
| Samsung | 35-40% | AMD, Google | Qualified for MI300X, TPU v5p |
| Micron | 5-10% | NVIDIA | Qualified for H200, expanding capacity |
HBM per AI Accelerator
| Chip | HBM Type | Stacks | Total Capacity | Total BW | HBM Cost |
|---|---|---|---|---|---|
| H100 SXM5 | HBM3 | 6 | 80 GB | 3.35 TB/s | $1,200 |
| H200 SXM5 | HBM3e | 6 | 141 GB | 4.8 TB/s | $2,100 |
| B200 | HBM3e | 8 | 192 GB | 8 TB/s | $2,400 |
| MI300X | HBM3 | 8 | 192 GB | 5.3 TB/s | $1,600 |
| MI325X | HBM3e | 8 | 256 GB | 6 TB/s | $2,400 |
Key Trends
- HBM cost per GB is rising with each generation due to increased layer counts (8-Hi to 16-Hi), tighter TSV pitch requirements, and lower manufacturing yields on advanced stacking processes. HBM4 is expected to reach $10+/GB compared to $7-8/GB for HBM3.
- HBM now represents 30-40% of total AI accelerator manufacturing cost, up from under 20% two generations ago. For the B200 with eight HBM3e stacks, memory alone costs $2,400 -- exceeding the logic die cost.
- Supply remains constrained through 2026. SK Hynix and Samsung are expanding capacity at their Icheon, Cheongju, and Pyeongtaek fabs, but demand from NVIDIA, AMD, and hyperscalers continues to outpace available production. Lead times for HBM3E stacks remain at 20-26 weeks.
Methodology
Pricing estimates are based on a composite of industry supply agreements, analyst teardown reports, and publicly disclosed contract pricing. Cost-per-stack figures represent typical volume pricing for Tier-1 customers and may vary by contract terms, volume commitments, and qualification status. Market share estimates are derived from quarterly revenue disclosures and shipment tracking data. All figures are approximate and intended for reference purposes. Data is reviewed and updated monthly.