2026年全球HBM芯片市场报告

芯报告2025-12-26

高带宽内存（HBM）市场达到历史新高，三星电子和SK海力士正在加紧量产下一代HBM4。由于HBM产能扩张，这两家公司毛利率首次突破60% ，创下历史新高。HBM4的量产技术与现有的HBM3E相比， HBM4接口宽度从1024位提升至2048位，实现了每个堆叠超过2TB的数据传输速度。SK海力士和美光科技已经验证了超过2TB的带宽，正在向英伟达提供12层和16层HBM4样品进行验证。业界最关注的是...

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LONG TERM THEMES (USD) \"P\" (USD) ACC","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","IE00BHPRN162.USD":"BNY MELLON BLOCKCHAIN INNOVATION \"B\" (USD) ACC"},"translate_title":"Global HBM Chip Market Report 2026","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"03145":0.6,"MU":1.88},"content_text":"高带宽内存（HBM）市场达到历史新高，三星电子和SK海力士正在加紧量产下一代HBM4。由于HBM产能扩张，这两家公司毛利率首次突破60% ，创下历史新高。HBM4的量产技术与现有的HBM3E相比， HBM4接口宽度从1024位提升至2048位，实现了每个堆叠超过2TB的数据传输速度。SK海力士和美光科技已经验证了超过2TB的带宽，正在向英伟达提供12层和16层HBM4样品进行验证。业界最关注的是16层（16-Hi）堆叠的量产。三星电子采用混合键合技术。取消了以往用于连接芯片的微凸块 ，直接键合芯片表面。HBM堆叠的厚度更薄，层间间隙也更小，从而提高了散热性能。SK海力士改进了MR-MUF（大规模回流焊模具底部填充）工艺。通过使用特殊树脂填充堆叠芯片之间的空隙来固化结构。利用此方法确保了良率和可靠性，赢得英伟达的大订单。存储厂商也首次与台积电合作，采用3nm和5nm工艺制造HBM堆叠的底层芯片。通过将内存控制器直接集成，减轻了GPU的负担，提高了系统效率。SK海力士和美光与台积电采取合作模式，三星电子利用代工厂的优势，提供HBM4解决方案，同时支持台积电生产，扩大客户的选择范围。PC价格上涨30%三星电子、SK海力士和美光已将DRAM晶圆总产能的约30%转向HBM生产。HBM芯片比普通DDR5或LPDDR5X芯片更大，制造工艺更复杂，因此同一晶圆上只能生产少量芯片。12月传统DRAM合约价格环比上涨超过30% ，这一趋势将持续到2026年。苹果、戴尔、惠普等公司正感受到笔记本电脑和智能手机零部件成本上涨的压力，但存储器厂商并不在意，因为HBM的利润率是通用DRAM的三倍。市场规模达到92亿美元HBM的抢购表明，当前人工智能时代的瓶颈并非GPU，而是数据供应能力。随着大模型的日益复杂，“内存壁垒”已成为性能提升的主要障碍。HBM4有望成为连接100万亿参数模型和预计在2026-2027年达到1000万亿参数模型的桥梁。Presence Research预测，全球HBM市场规模，预计2026年增长至约92亿美元。HBM4预计2026年下半年全面量产，2027年显著提升销售额。HBM4供应集中在三星电子、SK海力士、美光科技及主要代工合作伙伴台积电。HBM4E最早2027年发布，显著提升带宽。确保16层堆叠的良率是当务之急。这是因为16层超高密度堆叠的良率低于12层堆叠，而且混合键合技术必须在大规模生产层面得到完善，防止过热。谁能在2026年率先实现16层HBM4量产，将成为决定市场格局的关键因素。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","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":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2594519922","isCrawlerRequest":true}