SK Hynix
Compare SK Hynix…SK Hynix Inc. manufactures and sells semiconductor products including DRAM, NAND flash, and High Bandwidth Memory worldwide.
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SK HynixSK Hynix Inc. manufactures and sells semiconductor products including DRAM, NAND flash, and High Bandwidth Memory worldwide.
| Generation / Date | Capacity / Bandwidth | Customer Wins |
|---|---|---|
| HBM2 (2018-2020) | 8 GB / ~300 GB/s | NVIDIA V100 + A100; AMD Instinct MI50/MI60; initial deployment in HPC + early AI training workloads |
| HBM2E (2020-2022) | 16 GB / ~460 GB/s | NVIDIA A100 80GB variant; SK Hynix + Samsung roughly equal share |
| HBM3 (2022-2024) | 24 GB / ~819 GB/s | NVIDIA H100 first volume customer (SK Hynix was sole supplier at launch March 2022; Samsung qualified Q3 2023, Micron qualified Q4 2023); AMD MI300X uses HBM3 8-stack with 192GB total |
| HBM3E (2024-2025) | 36 GB / ~1.2 TB/s | NVIDIA H200 (SK Hynix as primary supplier; Micron as second source Q4 2024; Samsung struggled to qualify until late 2024); NVIDIA B100 + B200 use 192GB HBM3E across 8 stacks |
| HBM3E 12-Hi (2024-2025) | 48 GB / ~1.2 TB/s | 12-die-stack variant; SK Hynix shipped first in March 2024; targeted at top-bin NVIDIA + AMD + Broadcom AI accelerators; capacity-constrained through 2025 |
| HBM4 (2026 target) | 48-64 GB / ~2.0 TB/s | SK Hynix targets 2026 production launch; NVIDIA Rubin + AMD MI400 + Broadcom + Google TPU v7 all expected as anchor customers; TSMC + Samsung Foundry both producing the base die |
| HBM4E (2027 target) | Higher capacity + bandwidth | Roadmap disclosed at SK Hynix CES 2025 + investor day; targets HBM4-tier customers + emerging custom-ASIC partnerships |
| Market share trajectory (TrendForce) | Reference | 2022: SK Hynix 50% + Samsung 40% + Micron 10%; 2024: SK Hynix 52% + Samsung 38% + Micron 10%; 2025E: SK Hynix 50% + Samsung 33% + Micron 17% (Micron gaining share) |
| HBM revenue trajectory (financial context) | Reference | SK Hynix 2024 HBM revenue ~$13B; 2025E ~$28B (per Q3 2025 earnings call commentary); HBM contributes ~50% of memory operating profit through 2025 despite being ~25-30% of memory revenue (high margin vs DRAM commodity) |
| Editorial. Why SK Hynix lead matters | Strategic context | Memory was commoditized for decades. HBM broke the commodity model: NVIDIA + AMD + Broadcom prefer the supplier that ships first because designing accelerator + memory together is engineering-intensive. SK Hynix's HBM3 first-mover advantage cascaded to HBM3E and is structurally hard for Samsung + Micron to close in HBM4. The customer-relationship moat is the SK Hynix equity thesis |
Q1 2023-Q1 2026