Multiple signals point to a major acceleration in the HBM market.

Multiple signals point to a major acceleration in the HBM market. South Korea announced plans for Samsung and SK Hynix to build two new fabs each as part of an 800 trillion won ($518 billion) national semiconductor ecosystem project, signaling a massive ramp in HBM production capacity (CNBC). Separately, a report suggests Samsung could become the HBM market share leader by 2027, indicating a shift in competitive dynamics (Digitimes). Meanwhile, SK Hynix is setting up a new strategy unit to respond to the intensifying race (Digitimes). Additionally, Taiwan is entering the post-HBM memory race with Intel and SoftBank, hinting at new alternative memory technologies (Digitimes). Finally, a deep dive into China's all-CPU supercomputer shows it pairs custom Arm CPUs with HBM, demonstrating demand from non-traditional AI segments (The Next Platform). The confluence of massive capex, competitive repositioning, and new applications suggests HBM supply will expand significantly, though demand remains robust. The direction is neutral as supply and demand forces appear balanced in the near term.