HBM Price per GB by Generation — Historical Time Series Data
HBM contract and blended pricing per GB, HBM2 through HBM4, with dated anchors from 2017 through 2026. Contract prices are confidential, so points are typed: Confirmed (source states the number), or Estimate (derived/modelled — derivation named per point). NOTE: no public HBM spot market exists in any generation — HBM sells via annual/multi-year LTAs; DRAMeXchange lists no HBM spot line. A prior spot series was retired 2026-07-28 after external verification failed.
HBM Price per GB by Generation
HBM contract and blended pricing per GB, HBM2 through HBM4, with dated anchors from 2017 through 2026. Contract prices are confidential, so points are typed: Confirmed (source states the number), or Estimate (derived/modelled — derivation named per point). NOTE: no public HBM spot market exists in any generation — HBM sells via annual/multi-year LTAs; DRAMeXchange lists no HBM spot line. A prior spot series was retired 2026-07-28 after external verification failed.
Model Bear / Base / Bull scenarios with interactive assumptions
Data sparse before 2022. Public pricing data for this category is limited prior to the AI demand inflection. Data points before 2022 are single-source estimates and should be treated as directional only.
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Data Table
| Period | Series | Value |
|---|---|---|
2017 (pre-window context) | HBM2 | ••• |
Q4 2019 | HBM2 | $7.50 |
2020 | HBM2E (Contract) | ••• |
2020-2021 | HBM2 | $8.00 |
2021 | HBM2E (Contract) | $10.00 |
2022 | HBM2E (Contract) | $10.80 |
H2 2022 | HBM3 (Contract) | ••• |
Q3 2022 | HBM2E | ••• |
2023 | HBM3 (Contract) | ••• |
2023 | HBM2E | $9.80 |
2023 | HBM3 | ••• |
Q1 2023 | HBM3 | ••• |
Q2/Q3 2023 | HBM3 | $13.00 |
Q2/Q3 2023 | HBM3E (Contract) | ••• |
Q4 2023 | HBM3E (Contract) | ••• |
2024 | HBM3E | ••• |
Q1/Q2 2024 | HBM3E (Contract) | ••• |
H1 2024 | HBM3 (Contract) | ••• |
Q1 2024 | HBM3 | $12.50 |
Q3/Q4 2024 | HBM3E (Contract) | ••• |
H2 2024 | HBM3 (Contract) | ••• |
Q4 2024 (end-of-life endpoint) | HBM2E | $8.90 |
2025 (12-hi per-stack baseline) | HBM3E (Contract — per-stack prints) | ••• |
2025 | HBM3 (Contract) | $13.00 |
2025 | HBM3E | $16.40 |
H1 2025 | HBM3E (Contract) | ••• |
Initial quote, Aug 2025 (H1-2026 supply) | HBM4 (Contract — per-stack basis) | ••• |
H2 2025 | HBM3E (Contract) | ••• |
Agreed Nov 2025, SK Hynix (CY2026 supply) | HBM4 (Contract — per-stack basis) | ••• |
Q4 2025 (SK Hynix 12-hi to Nvidia) | HBM3E (Contract — per-stack prints) | ••• |
Q4 2025 (Samsung 12-hi, share-grab floor) | HBM3E (Contract — per-stack prints) | ••• |
Samsung, reported Nov 2025 (CY2026 supply) | HBM4 (Contract — per-stack basis) | ••• |
2026 (proj., superseded)P | HBM3E (Contract) | ••• |
2026 (proj.)P | HBM3E | $12.00 |
2026 (proj.)P | HBM3 (Contract) | $11.00 |
2026 (Samsung renewal, negotiated Dec 2025) | HBM3E (Contract — per-stack prints) | $13.89 |
2026 (blended per-stack, post-renewal) | HBM3E (Contract — per-stack prints) | $12.20 |
2026 (≈+20% renewals) | HBM3E (Contract) | $15.60 |
Expected level, Jan 2026 | HBM4 (Contract — per-stack basis) | $16.67 |
2026 (proj.)P | HBM4 (Contract — per-stack basis) | $15.50 |
Methodology & Sources
Sources: TrendForce (incl. FMS 2025 blended-ASP series), TechInsights via SemiEngineering, Dealsite/Chosun Biz/Seoul Economic Daily via TrendForce News, Goldman Sachs as quoted in press, vendor IR (SK Hynix/Samsung/Micron). Contract prices are confidential; per-point typing separates stated figures from Silicon Analysts derivations. Only open-market evidence found: an isolated 2026 broker ask ~$77/GB (6-8x contract, an outlier not a market) and unpriced gray-market channels.
Citations:
- Fudzilla (corroborated by GamersNexus industry sources) (May 2017)
- TechInsights (Jeongdong Choe) via Semiconductor Engineering, 'What's Next For High Bandwidth Memory' (Dec 17, 2019)
- Silicon Analysts model (anchors: TechInsights Dec 2019 via SemiEngineering; TrendForce FMS-2025 blended-ASP back-solve) (Jul 2026 (model))
- Silicon Analysts seed series (carried) (carried seed; anchors Dec 2019)
- Silicon Analysts model (anchors: TechInsights Dec 2019 via SemiEngineering; TrendForce FMS 2025 blended ASP $1.40/Gb 2022) (Jul 2026 (model))
- Silicon Analysts model (anchor: TrendForce FMS 2025 blended ASP, Ellie Wang; mix per TrendForce 2023 releases) (Aug 2025 (2022 datum); model Jul 2026)
- Silicon Analysts model on TrendForce blended-ASP anchor (Ellie Wang, FMS 2025 presentation) (Aug 2025 (2022 datum))
- Silicon Analysts seed series (carried) (carried seed)
- Silicon Analysts model on TrendForce blended-ASP anchor (FMS 2025) + TrendForce Aug 2023 generation mix (Aug 2025 (2023 datum); Aug 2023 (mix))
- TrendForce press release 20230809 (direction stated) + Silicon Analysts model (level) (Aug 9, 2023)
- TrendForce (press releases 2024-03-18, 2024-05-06, 2024-07-22; news 2025-09-17) — revenue/bits division (Mar 2024 (revenue share); Sep 2025 (bit anchor))
- TrendForce (Avril Wu via TweakTown; press releases 2024-03-18, 2024-05-06, 2024-07-22) — revenue/bits division (Oct 24, 2024 (revenue; date corrected from Feb 2025); Mar-Ju)
- Silicon Analysts model on KED Global (SK hynix stated direction) + Mirae Asset + TrendForce anchors (May 2024)
- Silicon Analysts model on KED Global (SK hynix comment) + TrendForce blended-ASP anchor (May 2024 (direction); Aug 2025 (anchor))
- AI Frontiers ('High-Bandwidth Memory: The Critical Gaps in US Export Controls'); volumes corroborated by SemiAnalysis (11.4M stacks total to China) (Feb 2026 (event: Dec 2024))
- Chosun (Korean media) via TweakTown / Jukan (X) (Aug 2025)
- Silicon Analysts model on TrendForce stated 2025 hike (press 20240506) applied to 2024 base (May 2024)
- TrendForce (Avril Wu via TweakTown; news 2025-07-18, 2025-09-17) + Goldman Sachs (via TrendForce news) — revenue/bits division (Oct 2024-Jul 2025 (revenue), Sep 2025 (bits))
- Korean media via Jukan (X); TrendForce/Dealsite ('mid-$500 range') and DIGITIMES (>50% vs HBM3E) corroborate (Nov 2025)
- Dealsite (Korean outlet) via TrendForce News (Nov 27, 2025)
- Dealsite via TrendForce News (merged with Electronics Weekly Oct 28, 2025 unattributed $300-to-$200 cut; direction corroborated by SEDaily via TrendForce) (Nov 27, 2025 (merged: Oct 28, 2025))
- The Elec / Dealsite via TrendForce, relayed by Notebookcheck; corroborated by Digitimes/Seoul Economy News (Nov 2025)
- Goldman Sachs memory report, as quoted by Jukan (@Jukanlosreve) on X (Nov 2025)
- Silicon Analysts seed series (revised per verified Dec 2025 hikes) (carried seed; revision Dec 2025 sources)
- Silicon Analysts model on Goldman Sachs 2026 forecast + TrendForce commentary (via TrendForce news) (Jul 2025)
- Seoul Economic Daily via SammyGuru (Samsung HBM3E contract renewals) (Dec 26, 2025)
- Silicon Analysts model (blend of this series' own verified prints) (Jul 2026)
- Silicon Analysts model (hike: Chosun Biz via TrendForce Dec 2025; base: this series H2 2025) (Jul 2026)
- TrendForce (citing Yonhap, Hankyung/KED, Dealsite, EBN) (Jan 2026)
- Silicon Analysts model (anchors: Chosun/TweakTown Aug 2025 $500 quote; Jukan/Dealsite Nov 2025 ~$560 agreed; TrendForce Jan 2026 >$600 expected) (Jul 2026 (synthesis of Aug 2025-Jan 2026 sources))
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Frequently Asked Questions
- How much does HBM3E memory cost per GB?
- HBM3E pricing peaked at approximately $17–20 per GB in H1 2025 during peak AI demand. By H2 2025, blended ASP declined to approximately $13–17/GB as Samsung offered discounts of roughly 30% below SK Hynix.
- Why is HBM so much more expensive than standard DRAM?
- HBM costs significantly more than standard DRAM due to through-silicon via (TSV) processing, die stacking (8–12 layers), silicon interposer integration, and extremely tight testing requirements. Each HBM3E 12-hi stack costs approximately $300–500, compared to roughly $3–5 for an equivalent-capacity DDR5 module.
- Who are the HBM market share leaders?
- SK Hynix leads the HBM market with approximately 53% share in 2025, down from roughly 90% in 2023 when it was the sole qualified HBM3 supplier for NVIDIA H100. Samsung holds approximately 28% share and Micron approximately 19%, both growing as they qualify HBM3E for additional platforms.