Memory Stock Pullback Overdone? Institution Clarifies NVIDIA Memory "Downgrade" Controversy: HBM Demand Unaffected

BlockBeats News, June 6th. Influenced by SemiAnalysis's report on Nvidia's next-generation Vera Rubin NVL72 server platform memory configuration adjustment, the global storage sector experienced a collective pullback. On June 5th, SK Hynix plummeted by 9.92%, the A-share memory index dropped by around 4%, with stocks such as Biwin Storage, Jiahe Long, Netac Technology, and Zhiyichuangxin leading the decline; the day before, Micron Technology closed down by 7.74%.

The report stated that Nvidia plans to reduce the system memory capacity of the Vera CPU's paired SOCAMM from 192GB to 96GB, with the expected single-machine cost decreasing from $7.6 million to $6.8 million, saving about 10%. The market was once concerned about a weakening demand for AI server storage.

However, several institutions later pointed out that this adjustment only involves the CPU-side pluggable SOCAMM memory module, which is a phased elastic configuration optimization rather than a permanent hardware downgrade, and the HBM high-bandwidth memory demand related to GPU core computing power remains unaffected.

Previously, Morgan Stanley had expected the price of Nvidia's new generation Vera Rubin (VR200) rack to be around $7.8 million, with the memory-related material cost increasing by over 435% compared to the previous generation. Industry insiders also stated that the AI hardware bottleneck is gradually shifting from computing power to memory and interconnection.

Since the beginning of this year, the global storage sector has been steadily rising, with the market gradually shifting the storage industry valuation logic from traditional cyclical stocks to "AI infrastructure assets." However, as valuations rise rapidly and trading congestion increases, any news related to storage demand changes may trigger market fluctuations.

Despite the short-term pullback, many companies in the industry chain remain optimistic about the continuity of industry prosperity. Biwin Storage stated that the demand for AI computing power will continue to drive a supply-demand gap that is difficult to alleviate in the short term, and there is still room for product price increases; some manufacturers expect the supply-demand imbalance to continue until 2027. CFM flash market data shows that in the first quarter of 2026, the global DRAM and NAND Flash market size reached $137.14 billion, reaching a new historical quarterly high.