Goldman Sachs estimates that memory components now account for roughly 62% of total material costs for Nvidia’s upcoming Vera Rubin superchip, up from about 53% on the previous-generation GB300 systems. The estimated bill of materials for a full Vera Rubin NVL72 rack system clocks in at approximately $7.8 million, with memory costs alone approaching $2 million. Year-on-year memory spending growth exceeds 435%, driven by the transition to high-performance HBM4 high-bandwidth memory and a record capacity of 288 GB per chip. This trend significantly strengthens the bargaining power of the three dominant HBM manufacturers, Samsung, SK Hynix and Micron, in the AI supply chain. Production of the Vera Rubin system is scheduled to begin in 2026.
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