三星与SK 海力士，首次超越台积电

半导体芯闻2025-12-24

如果您希望可以时常见面，欢迎标星收藏哦~随着人工智能需求快速攀升，记忆体价格大幅上涨，半导体产业的获利结构正出现变化。根据《韩国经济新闻》报导，三星电子的记忆体部门，以及SK 海力士，预期在2025 年第四季的毛利率将超越台积电，这将是自2018 年第四季以来，记忆体产业的利润表现首次超过晶圆代工厂。报导指出，三星电子与SK 海力士的毛利率，预估将落在63% 到67% 之间，高于台积电预期的...

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海力士，预期在2025 年第四季的毛利率将超越台积电，这将是自2018 年第四季以来，记忆体产业的利润表现首次超过晶圆代工厂。报导指出，三星电子与SK 海力士的毛利率，预估将落在63% 到67% 之间，高于台积电预期的...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224203514a6ca68e9&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1571399168.USD","symbol_name":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","start_time":0,"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224203514a6ca68e9&s=b","article_id":"2593042472","we_media_id":null,"thumbnails":[],"rights":{"source":"tencent","url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20251224203514a6ca68e9&s=b","rn_cache_url":null,"customStyle":"body{padding-top:10px;}#news_title{font-weight:bold;#titleStyle#;}#news_description span{font-size:12px;#descriptionStyle#;}.footer-note{#statement#}","selectors":".mod-LoadTzbdNews, body","filters":".relate-stock, 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time","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SNVD.UK":0.6,"NVDU":0.6,"NVDX":0.6,"NVIW.SI":0.6,"NVDS":0.6,"NVD2.UK":0.6,"2NVD.UK":0.6,"NVDY":0.6,"NVDS.UK":0.6,"03145":0.6,"NVD":0.6,"NVD3.UK":0.6,"SSNLF":1.92,"3NVD.UK":0.6,"NVDD":0.6,"NVDA":0.9,"TSM":1.94},"content_text":"如果您希望可以时常见面，欢迎标星 收藏哦~随着人工智能需求快速攀升，记忆体价格大幅上涨，半导体产业的获利结构正出现变化。根据《韩国经济新闻》报导，三星电子的记忆体部门，以及SK 海力士，预期在2025 年第四季的毛利率将超越台积电，这将是自2018 年第四季以来，记忆体产业的利润表现首次超过晶圆代工厂。报导指出，三星电子与SK 海力士的毛利率，预估将落在63% 到67% 之间，高于台积电预期的60%。此外，全球第三大记忆体制造商美光，在2026 会计年度第一季（9 月到11 月）的毛利率已达56%，并预期在第二季（12 月到次年2 月）将进一步升至67%，显示美光也有机会在2026 年第一季于获利表现上超越台积电。报导强调，价格快速上扬是推动记忆体市场扩张的主要动能。目前三大记忆体制造商，已将约18% 到28% 的DRAM 产能配置于高频宽记忆体（HBM）。 HBM 透过堆叠8 到16 颗DRAM 芯片，有效压缩通用记忆体供应量，使得标准DRAM 价格出现单季涨幅超过30% 的情况。随着记忆体毛利率即将超越晶圆代工厂，报导指出，这项转变与AI 产业需求结构改变密切相关。当AI 应用逐步从“训练”转向“推理”，对于高速资料储存与即时存取的需求大幅提升，必须仰赖HBM 等记忆体，将资料持续供应给GPU 进行运算。即便通用记忆体的效能不及HBM，市场对高效能通用记忆体的需求仍快速成长。在推理初期阶段，工作负载多由GDDR7、LPDDR5X 等通用DRAM 处理，而HBM 则主要保留给更密集的推理任务。 NVIDIA 在以推理为主的AI 加速器中采用GDDR7，便是一项代表性案例。记忆体业者也计划透过开发AI 导向的高效能产品，延续“记忆体为核心”的产业趋势。举例来说，记忆体内运算（Processing-In-Memory，PIM）技术，让记忆体可承担部分原本由GPU 执行的运算工作。报导也指出，垂直通道电晶体（VCT）DRAM 与3D DRAM 等新技术，透过在更小面积中储存更多资料来提升密度，预期将陆续导入市场。（来源：technews）","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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