HBM Price per GB by Generation — Historical Time Series Data
HBM contract and spot pricing per GB from HBM2 through HBM4, 2020-2026. Now includes spot vs. contract series separation — capturing the 2023 shortage when spot traded at 2x contract price as SK Hynix sold exclusively to NVIDIA under LTAs.
HBM Price per GB by Generation
HBM contract and spot pricing per GB from HBM2 through HBM4, 2020-2026. Now includes spot vs. contract series separation — capturing the 2023 shortage when spot traded at 2x contract price as SK Hynix sold exclusively to NVIDIA under LTAs.
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 |
|---|---|---|
2020–21 | HBM2 | $8.00 |
Q3 2022 | HBM2E | $10.00 |
Q1 2023 | HBM3 | $11.00 |
Q2–Q3 2023 | HBM3 | $13.00 |
Q4 2023 | HBM3E | ••• |
Q1–Q2 2024 | HBM3E | ••• |
Q1 2024 | HBM3 | $12.50 |
Q3–Q4 2024 | HBM3E | ••• |
H1 2025 | HBM3E | $17.50 |
H2 2025 | HBM3E | $15.00 |
2026 (proj.)P | HBM3E | $11.00 |
2026 (proj.)P | HBM4 | $14.00 |
Methodology & Sources
Sources: TrendForce, KED Global, Goldman Sachs, SemiAnalysis. Contract prices are confidential; figures are analyst estimates from earnings call commentary and industry reports.
Citations:
- Industry inference (Mar 2026)
- Deep Research (99 sources) (Mar 2026)
- SemiAnalysis (Mar 2024)
- The Register / TrendForce (May 2024)
- KED Global (May 2024)
- KED Global / Micron IR (May 2024)
- TrendForce / industry inference (Mar 2026)
- TrendForce / Goldman Sachs (Dec 2024)
- Goldman Sachs / Deep Research (Mar 2026)
- TrendForce / Goldman Sachs (Nov 2025)
- Goldman Sachs (Dec 2025)
- TrendForce / KED (Nov 2025)
Related Tools
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Market intelligence on this data
All market intelligence →South Korea Commits $518B HBM & Packaging Capacity Supercycle; Nvidia China Revenue Under Structural Pressure from Huawei
Capacity: +HBM/packaging capacity (scale unquantified in unit terms, but $518B CapEx over ~10 years across Samsung + SK Hynix fabs); packaging cluster: ~$52B (81T KRW) dedicated spend. China revenue displacement: unquantified but described as Huawei 'overtaking' Nvidia in domestic market.
HBM3e Contract Prices Rise 20% as AI Memory Demand Outstrips Supply
HBM3e contract price +20% QoQ
Micron Confirms Structural HBM Supply Deficit Beyond 2027
$22B customer prepayments locked
SK Hynix Reported to Begin HBM4 Sampling to Lead AI Customer
HBM4 qualification: sampling stage
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.