HBM Price per GB by Generation

Newest print Oct 1, 2026Reviewed monthlyCSV — newest observations; full series with a Pro keyAPIMethodReference page: HBM Memory Pricing and Specifications (2026)

HBM4 (Contract — per-stack basis): $36.11/GB (Expected level, Oct 2026 (CY2027 supply)) — 서울경제 (Seoul Economic Daily), Oct 1, 2026 (estimate). Basis: contract, per stack.

HBM Price per GB by Generation — latest readings

42 observations across 9 series, 2017–Oct 2026.

Latest freely available reading for each series in HBM Price per GB by Generation, with its basis, source and date
SeriesLatest ($/GB)Source
HBM22020-2021$8.00Our model estimateSilicon Analysts modelDec 2019
HBM2E (Contract)2022$10.80Our model estimateSilicon Analysts modelAug 2025
HBM2EQ4 2024 (end-of-life endpoint)$8.90AI Frontiers ('High-Bandwidth Memory: The Critical Gaps in US Export Controls'); volumes corroborated by SemiAnalysis (11.4M stacks total to China)Feb 2026
HBM3 (Contract)2025$13.00Our model estimateSilicon Analysts modelMay 2024
HBM3Q1 2024$12.50Our model estimateSilicon Analysts model—
HBM3E (Contract)2026 (≈+20% renewals)$15.60Our model estimateSilicon Analysts modelJul 2026
HBM3EH2 2025$1.55서울경제 (Seoul Economic Daily)Jul 2026
HBM3E (Contract — per-stack prints)2026 (blended per-stack, post-renewal)$12.20Our model estimateSilicon Analysts modelJul 2026
HBM4 (Contract — per-stack basis)Expected level, Oct 2026 (CY2027 supply)$36.11서울경제 (Seoul Economic Daily)Oct 1, 2026

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.

HBM4 per-stack quotes rose from $13.9/GB (Aug 2025) to >$16.7/GB (Jan 2026), and industry estimates put CY2027 supply around $36.1/GB (Oct 2026); HBM3E 12-hi moved $8.3→$13.9/GB at the Dec 2025 renewals (Silicon Analysts blend $12.2/GB)

$/GB derived from per-stack press prints ÷ 36 GB (12-hi); hollow = Silicon Analysts blend or projection; x = period covered, or the print/agreement date where the label names one

  1. 1Q4 2025 — 2026 Whipsaw: Goldman's -28% 2026 HBM3E projection (Nov 2025) superseded within ~6 weeks: H200-to-China approval + ASIC demand flip 2026 renewals to ~+20% (Samsung 12-hi >+50%). Dated forecast reversal preserved in the series.
  2. 2Q2 2026 — DDR5 Crossover: Commodity DDR5 spot per-GB exceeds HBM3E contract; DDR5 64GB RDIMM overtakes HBM in per-wafer revenue (TrendForce, Jun 2026). Suppliers seek multi-fold HBM increases for 2027.

Revenue-implied and modelled HBM3/HBM3E contract

2022–2024: 6 earlier prints — full ledger is Pro

HBM2/HBM2E era, 2017–2024

2023: 1 other print — full ledger is Pro

Press / analyst printSilicon Analysts modelLow confidence

Source: Silicon Analysts model, 딜사이트 (Dealsite), 서울경제 (Seoul Economic Daily), TrendForce, 헤럴드경제 (Herald Economy), Fudzilla and 4 more · Basis: contract, per stack; contract; revenue-implied · Anonymous view: the newest 3–5 observations per series (Jul 2017–Oct 2026); 7 other prints (2022–2024) — full ledger is Pro.

Prints ledger

Prints ledger: every observation in this dataset with its period, value, basis, type, confidence and source
Note and copy
Expected level, Oct 2026 (CY2027 supply)HBM4 (Contract — per-stack basis)$36.11
2026 (≈+20% renewals)HBM3E (Contract)Our model estimate$15.60$13.00–$18.00/GB
2026 (blended per-stack, post-renewal)HBM3E (Contract — per-stack prints)Our model estimate$12.20$11.10–$13.90/GB
Expected level, Jan 2026HBM4 (Contract — per-stack basis)>$16.67/GB
2026 (HBM3E 12-hi renewals, negotiated Dec 2025)HBM3E (Contract — per-stack prints)$13.89$12.50–$13.89/GB
Q4 2025 (Samsung 12-hi, share-grab floor)HBM3E (Contract — per-stack prints)$6.81$5.56–$8.33/GB
Samsung, Nov 2025 (negotiating parity with SK Hynix, CY2026 supply)HBM4 (Contract — per-stack basis)$15.28$14.60–$15.30/GB
H2 2025HBM3E$1.55$1.50–$1.60/GB
Q4 2025 (SK Hynix 12-hi to Nvidia)HBM3E (Contract — per-stack prints)$9.72$9.17–$10.28/GB
Agreed Nov 2025, SK Hynix (CY2026 supply)HBM4 (Contract — per-stack basis)$15.56
Initial quote, Aug 2025 (H1-2026 supply)HBM4 (Contract — per-stack basis)$13.89
H2 2025HBM3E (Contract)Our model estimate$13.00$12.00–$14.00/GB
H1 2025HBM3E (Contract)Our model estimate$15.00$14.00–$16.00/GB
2025 (12-hi per-stack baseline)HBM3E (Contract — per-stack prints)$8.33
2025HBM3E$16.40$12.60–$21.20/GB
2025HBM3 (Contract)Our model estimate$13.00$12.00–$13.60/GB
Q4 2024 (end-of-life endpoint)HBM2E$8.90$8.90–$12.00/GB
H2 2024HBM3 (Contract)Our model estimate$12.00$11.00–$12.80/GB
H1 2024HBM3 (Contract)Our model estimate$12.80$12.00–$13.50/GB
Q1 2024HBM3Our model estimate$12.50$11.50–$13.50/GB
2024HBM3E$13.60$11.60–$16.50/GB
Q2/Q3 2023HBM3Our model estimate$13.00$12.00–$14.00/GB
Q1 2023HBM3Our model estimate$11.00$10.00–$12.00/GB
2023HBM2E$9.80$8.50–$10.50/GB
Q3 2022HBM2EOur model estimate$10.00$9.00–$11.50/GB
2022HBM2E (Contract)Our model estimate$10.80$9.00–$11.50/GB
2021HBM2E (Contract)Our model estimate$10.00$7.50–$12.00/GB
2020HBM2E (Contract)Our model estimate$10.00$7.50–$12.00/GB
2020-2021HBM2Our model estimate$8.00$7.50–$10.00/GB
Q4 2019HBM2$7.50$7.50–$15.00/GB
2017 (pre-window context)HBM2$20.00$18.75–$23.00/GB
HBM3 (Contract): 2 earlier prints, H2 2022–2023 and 1 projection (2026) — full ledger is Pro
HBM3: 1 earlier print, 2023 — full ledger is Pro
HBM3E (Contract): 4 earlier prints, Q2/Q3 2023–Q3/Q4 2024 and 1 projection (2026) — full ledger is Pro
HBM3E: 1 projection (2026) — full ledger is Pro
HBM4 (Contract — per-stack basis): 1 projection (2026) — full ledger is Pro
Showing the newest 3–5 observations per series (2017–Oct 2026); 7 earlier observations (H2 2022–Q3/Q4 2024) and 4 projections are in Pro.

Provenance

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.

Basis: contract · revenue-implied · contract, per stack

Negotiated contract price per GB. No public HBM spot market exists in any generation. NOTE: series differ in basis — a per-stack print and a revenue-implied $/GB are not comparable; they run ~1.7× apart (see Basis discipline in the method notes).

The dataset carries HBM3E/HBM4 contract prices on two measurement bases that differ by ~1.7×, and they must never be compared across series. Rule: cross-series comparisons must be same-basis.

Sources

  • 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.”
  • 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.”
  • 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))
  • 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).”
  • 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.”
  • 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) (Jul 2026)
    “HBM3E prices, currently at $1.5-1.6 per Gb”
  • Goldman Sachs memory report, as quoted by Jukan (@Jukanlosreve) on X (Nov 2025)
  • 서울경제 (Seoul Economic Daily) (Dec 26, 2025)
    “HBM3E 12단은 칩당 약 300달러대로 알려져 있는데 최근 재계약한 기업들은 500달러대 가격을 지불하는 것으로 파악됐다.”
  • 딜사이트 (Dealsite) (Jan 27, 2026)
    “업계에서는 HBM4 12단 제품의 가격이 600달러를 웃돌 것으로 보고 있다.”
  • 서울경제 (Seoul Economic Daily) (Oct 1, 2026)
    “업계 추정치를 종합하면 12단 36GB(기가바이트) HBM4의 스택당 가격은 올해 약 600달러에서 내년 1300달러 안팎으로 두 배 넘게 오를 것으로 예상된다.”

Our derivations

  • 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))
  • 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))
  • Silicon Analysts model on TrendForce stated 2025 hike (press 20240506) applied to 2024 base (May 2024)
  • 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)
  • Silicon Analysts model (hike: Chosun Biz via TrendForce Dec 2025; base: this series H2 2025) (Jul 2026)
  • 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))

Suggested citation

Silicon Analysts, "HBM Price per GB by Generation", as of Oct 1, 2026, https://siliconanalysts.com/market-data/hbm-pricing, retrieved October 13, 2026.

API: /api/v1/market-data/hbm-pricingCSVLicenceMethod

Data sparse before 2022: public pricing data for this category is limited prior to the AI demand inflection; points before 2022 are single-source estimates and should be treated as directional only.

Showing the newest 3–5 observations per series (2017–Oct 2026); 7 earlier observations (H2 2022–Q3/Q4 2024) and 4 projections are in Pro.

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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?
By revenue, SK Hynix took 50% of the HBM market in Q2 2026, Samsung 33% and Micron 18% (Counterpoint Research). For the full year 2025, IDC puts the split at 63.2%, 19.3% and 17.4%. The roughly 90% often quoted for SK Hynix in 2023 was its share of the HBM3 generation alone, as the sole qualified HBM3 supplier for NVIDIA H100, not of all HBM.