TrendForce Raises HBM Memory Price Forecast for 2027, Expects 121% Average Price Increase

TrendForce announced it is raising its price forecast for HBM memory in 2027, expecting average prices to see a 121% year-over-year increase next year. AI server demand continues to expand, and the situation where HBM and general DRAM products compete for limited capacity will not change.

As AI chips iterate and upgrade, the share of higher-priced HBM4 will gradually increase, and HBM4E will also ramp up, pushing prices upward. Several AI XPU companies have recently discussed replacing the originally planned 12Hi with lower-stacked 8Hi HBM in some products.

Analysts believe that 8Hi offers a relatively balanced performance, supply, and cost profile, and is expected to become a priority evaluation option for some companies in 2027. However, 8Hi HBM requires 50% more Base Die than 12Hi solutions at the same total capacity, meaning the cost per unit capacity of 8Hi HBM may be 10-20% higher than 12Hi products.

Overall, adjusting HBM stacking layers can partially ease the overall cost pressure on XPU, but it is difficult to reverse the trend of significant HBM price increases.