Has the unprecedented semiconductor memory bubble arrived?

The prices of semiconductor memory DRAM continue to rise. The bulk transaction prices for flagship products in November-December 2025 have increased by 40% compared to the prices negotiated in the previous round in September. Major global companies are prioritizing supply to AI servers in data centers, leading to a shortage of flagship products for consumer electronics such as personal computers (PCs). Buyers are struggling to secure the required quantities.

DRAM is installed in PCs, smartphones, and data center servers for temporary data storage. Bulk transaction prices are negotiated monthly or quarterly between memory manufacturers as sellers and device manufacturers and module makers as buyers.

Due to supply shortages, a rare situation occurred in October 2025 where bulk transaction prices could not be established. Although prices were set for November-December, some executives from electronics trading companies stated that “they were unable to procure the desired quantities.” Others pointed out that DDR5 and the previous generation DDR3 products increased by 40% to 200% and 2 to 4 times respectively in October-December 2025 compared to the previous quarter. A manager from another trading company said, “An unprecedented semiconductor memory bubble beyond flagship products has arrived.”

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