Samsung HBM4 revenue tops $1 billion; targets $10 billion run-rate by end-2026

Samsung Electronics announced that HBM4 revenue has surpassed the $1 billion milestone, a significant milestone reached in the company's push to narrow the gap with SK Hynix in the high-bandwidth memory market. Samsung began mass-producing HBM4 for the first time in the world in April 2026 and is targeting a run-rate of $10 billion by the end of 2026. This ramp reflects both aggressive manufacturing acceleration and the insatiable demand from cloud providers and AI accelerator makers ramping new platforms (NVIDIA Blackwell, AMD MI300/MI350, and custom chips like OpenAI's Titan and Jalapeño).

SK Hynix currently dominates HBM supply with a reported 58% global market share and deep integration with NVIDIA, while Samsung historically lagged in advanced HBM yields and customer qualification. The $1B milestone and $10B run-rate target signal that Samsung has overcome yield bottlenecks and secured key customer allocations—likely including AMD, Intel, and portions of Broadcom's custom accelerators. SK Hynix remains the technical leader and preferred supplier, but Samsung's rapid ramp is fragmenting HBM supply, giving hyperscalers multiple sources and pricing leverage.

For infrastructure planners, Samsung's HBM4 availability reduces single-source risk on SK Hynix but does not solve the fundamental supply constraint: total HBM production across all three vendors (Micron, Samsung, SK Hynix) will remain the bottleneck through 2027. The shift toward cost-plus long-term agreements (like Micron's SCAs and Samsung's direct cloud customer contracts) means HBM allocation is now determined by relationship and volume certainty, not spot pricing. Architects should expect HBM pricing to remain elevated and supply to be rationed via multi-year contracts through 2027.