AI Applications Drive Memory Demand

The memory market has promising potential, according to DIGITIMES Asia. The three main memory chip suppliers reported a total memory revenue of $27.8 billion in Q1 2024, indicating a year-over-year growth rate of over 100%, driven by the robust demand for AI servers. The strong market for AI servers kept driving growth in memory chip demand even after the first-quarter low season had a negative influence on demand for PCs and smartphones.

More than merely improving shipment quantities, the three major suppliers' outstanding performance in Q1 2024 was primarily due to an increase in average selling price. Anticipating the Q2 2024, the steady increase in AI chip shipments is anticipated to augment the demand for memory chips, esp. High Bandwidth Memory HBM. The memory revenue of the three primary suppliers is projected to surpass $32 billion, perpetuating the upward trend both sequentially and annually.

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