SK Hynix forecasts a DRAM chip shortage extending until the end of 2030, driven by AI-related demand. This supply crunch has caused prices to surge: contractual DRAM prices rose 58 to 63 % in a single quarter in Q2 2026, with a 64 GB server module climbing from around $450 at the end of 2025 to over $900 in early 2026. The market is dominated by three players (Samsung, SK Hynix and Micron) that together control over 95 % of global DRAM production and are posting record results: SK Hynix exceeded 50 trillion won in revenue in Q1 2026 with a 72 % operating margin, while Micron reported gross margins above 80 %. On the stock market, Micron shares surged approximately 240 % in 2025 and SK Hynix’s market capitalization nearly quadrupled. Chinese competition, notably CXMT whose revenue jumped around 700 % year-over-year in Q1 2026, represents a growing risk, although the three giants maintain a multi-year lead in the most profitable HBM segment.
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