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 — latest readings
40 data points across 9 series, covering 2017 (pre-window context) to 2026 (proj.). Values below are free; the full point-level history is available with Pro.
| Series | Period | Latest ($/GB) | Change |
|---|---|---|---|
| HBM2 | 2020-2021 | $8.00 | +6.7% versus Q4 2019 |
| HBM2E (Contract) | 2022 | $10.80 | +8.0% versus 2021 |
| HBM2E | Q4 2024 (end-of-life endpoint) | $8.90 | -9.2% versus 2023 |
| HBM3 (Contract) | 2025 | $13.00 | +8.3% versus H2 2024 |
| HBM3 | Q1 2024 | $12.50 | -3.8% versus Q2/Q3 2023 |
| HBM3E (Contract) | 2026 (≈+20% renewals) | $15.60 | +20.0% versus H2 2025 |
| HBM3E | 2025 | $16.40 | +20.6% versus 2024 |
| HBM3E (Contract — per-stack prints) | 2026 (blended per-stack, post-renewal) | $12.20 | -12.2% versus 2026 (HBM3E 12-hi renewals, negotiated Dec 2025) |
| HBM4 (Contract — per-stack basis) | Expected level, Jan 2026 | >$16.67/GB | +9.1% versus Samsung, Nov 2025 (negotiating parity with SK Hynix, CY2026 supply) |
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.
11 data point values hidden. Unlock exact values, sources, and exports with Pro.
Data Table
| Period | Series | Value |
|---|---|---|
2017 (pre-window context) | HBM2 | $20.00 |
Q4 2019 | HBM2 | $7.50 |
2020-2021 | HBM2 | $8.00 |
2020 | HBM2E (Contract) | $10.00 |
2021 | HBM2E (Contract) | $10.00 |
2022 | HBM2E (Contract) | $10.80 |
Q3 2022 | HBM2E | $10.00 |
H2 2022 | HBM3 (Contract) | ••• |
2023 | HBM3 (Contract) | ••• |
2023 | HBM3 | ••• |
2023 | HBM2E | $9.80 |
Q1 2023 | HBM3 | $11.00 |
Q2/Q3 2023 | HBM3E (Contract) | ••• |
Q2/Q3 2023 | HBM3 | $13.00 |
Q4 2023 | HBM3E (Contract) | ••• |
2024 | HBM3E | $13.60 |
Q1 2024 | HBM3 | $12.50 |
H1 2024 | HBM3 (Contract) | $12.80 |
Q1/Q2 2024 | HBM3E (Contract) | ••• |
H2 2024 | HBM3 (Contract) | $12.00 |
Q3/Q4 2024 | HBM3E (Contract) | ••• |
Q4 2024 (end-of-life endpoint) | HBM2E | $8.90 |
2025 (12-hi per-stack baseline) | HBM3E (Contract — per-stack prints) | $8.33 |
2025 | HBM3 (Contract) | $13.00 |
2025 | HBM3E | $16.40 |
H1 2025 | HBM3E (Contract) | $15.00 |
Initial quote, Aug 2025 (H1-2026 supply) | HBM4 (Contract — per-stack basis) | $13.89 |
H2 2025 | HBM3E (Contract) | $13.00 |
Agreed Nov 2025, SK Hynix (CY2026 supply) | HBM4 (Contract — per-stack basis) | $15.56 |
Q4 2025 (SK Hynix 12-hi to Nvidia) | HBM3E (Contract — per-stack prints) | $9.72 |
Q4 2025 (Samsung 12-hi, share-grab floor) | HBM3E (Contract — per-stack prints) | $6.81 |
Samsung, Nov 2025 (negotiating parity with SK Hynix, CY2026 supply) | HBM4 (Contract — per-stack basis) | $15.28 |
2026 (HBM3E 12-hi renewals, negotiated Dec 2025) | HBM3E (Contract — per-stack prints) | $13.89 |
2026 (proj.)P | HBM3E | ••• |
2026 (proj.)P | HBM3 (Contract) | ••• |
2026 (proj., superseded)P | HBM3E (Contract) | ••• |
2026 (≈+20% renewals) | HBM3E (Contract) | $15.60 |
Expected level, Jan 2026 | HBM4 (Contract — per-stack basis) | >$16.67/GB |
2026 (blended per-stack, post-renewal) | HBM3E (Contract — per-stack prints) | $12.20 |
2026 (proj.)P | HBM4 (Contract — per-stack basis) | ••• |
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)
- Semiconductor Engineering (TechInsights) (Dec 17, 2019)“Today, the unit prices for HBM2 (16GB with 4 stack DRAM dies) is roughly $120, according to TechInsights.”
- Silicon Analysts seed series (carried) (carried seed; anchors Dec 2019)
- Silicon Analysts model (anchors: TechInsights Dec 2019 via SemiEngineering; TrendForce FMS-2025 blended-ASP back-solve) (Jul 2026 (model))
- 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 seed series (carried) (carried seed)
- Silicon Analysts model on TrendForce blended-ASP anchor (Ellie Wang, FMS 2025 presentation) (Aug 2025 (2022 datum))
- Silicon Analysts model on TrendForce blended-ASP anchor (FMS 2025) + TrendForce Aug 2023 generation mix (Aug 2025 (2023 datum); Aug 2023 (mix))
- 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 press release 20230809 (direction stated) + Silicon Analysts model (level) (Aug 9, 2023)
- TrendForce (Avril Wu; press releases 2024-03-18, 2024-05-06, 2024-07-22) — revenue/bits division (Oct 24, 2024 (revenue; date corrected from Feb 2025))“TrendForce estimates that benefiting from an increase in average DRAM prices by 53% in 2024 and 35% in 2025, DRAM revenue will reach US$90.7 billion in 2024—a 75% YoY increase—and $136.5 billion in 2025—a 51% YoY increase.”
- 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))
- 헤럴드경제 (Herald Economy) (Aug 7, 2025)“그러다 최근 HBM4 12단의 가격을 HBM3E(300달러)보다 약 70% 비싼 500달러로 책정한 것으로 알려지면서 엔비디아가 난색을 표했다는 후문이다.”
- Silicon Analysts model on TrendForce stated 2025 hike (press 20240506) applied to 2024 base (May 2024)
- TrendForce (Avril Wu; news 2025-07-18, 2025-09-17) + Goldman Sachs (report not public, quoted by TrendForce) — revenue/bits division (Oct 2024-Jul 2025 (revenue), Sep 2025 (bits))“Goldman Sachs has revised its HBM total addressable market (TAM) estimates, raising 2025 forecast slightly by 1% to US$36 billion, but cutting 2026 outlook by 13% to US$45 billion (previously US$51 billion).”
- 서울경제 (Seoul Economic Daily) (Nov 5, 2025)“엔비디아에 공급하는 HBM4 가격은 제품당 500달러 중반대로 알려졌다.”
- 딜사이트 (Dealsite) (Nov 27, 2025)“SK하이닉스의 HBM3E 12단 가격이 300달러 중반대 수준인 반면 삼성전자의 HBM3E 제품은 200달러 중반대 수준으로 알려졌다.”
- 서울경제 (Seoul Economic Daily) (Dec 26, 2025)“HBM3E 12단은 칩당 약 300달러대로 알려져 있는데 최근 재계약한 기업들은 500달러대 가격을 지불하는 것으로 파악됐다.”
- 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)
- Goldman Sachs memory report, as quoted by Jukan (@Jukanlosreve) on X (Nov 2025)
- Silicon Analysts model (hike: Chosun Biz via TrendForce Dec 2025; base: this series H2 2025) (Jul 2026)
- 딜사이트 (Dealsite) (Jan 27, 2026)“업계에서는 HBM4 12단 제품의 가격이 600달러를 웃돌 것으로 보고 있다.”
- Silicon Analysts model (blend of this series' own verified prints) (Jul 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.