The DRAM market has entered one of its most remarkable growth phases in years, with global revenue expanding sharply as artificial intelligence continues to reshape demand for memory chips.
According to Counterpoint Research, global DRAM revenue surged 369% year-over-year in Q3, driven by strong demand from AI accelerators, data centers, and a broad set of high-performance computing applications. The average selling price reached $1.9 per gigabit, underscoring how much more valuable memory has become in the current AI-driven cycle.
Samsung remained the largest supplier, holding a 38% market share, while SK hynix followed with 29%. US-based Micron ranked third with 21% share, and China’s CXMT placed fourth at 9%. Although SK hynix posted revenue growth of more than 40% quarter-on-quarter, Samsung appears to be in a stronger position overall for now.
Source: Counterpoint Research Global Memory Tracker 2026 Q3
SK hynix faces an evolving challenge as the market shifts toward the next generation of high-bandwidth memory. The company was a dominant force in HBM3E shipments, but the industry is now moving toward HBM4, where Samsung holds a competitive edge. That transition could influence the balance of power among memory suppliers in the coming quarters.
For CXMT, the near-term picture is mixed. The Chinese manufacturer plans to begin mass production of HBM3E next year, which puts it behind the current front runners. However, CXMT made significant progress elsewhere, becoming the first company to mass-produce LPDDR6.
That move is already showing up in flagship devices. The Xiaomi 18 Fold uses LPDDR6 in models equipped with 16GB of RAM, while its 12GB units use LPDDR5X. It is a notable sign that newer memory standards are starting to enter consumer products at scale.
CXMT’s LPDDR6 RAM is used in some Xiaomi 18 Fold units
The growth story is not limited to HBM. The rise of agentic AI is creating new demand for DDR and LPDDR, which are commonly used as system memory in PCs, smartphones, and servers rather than inside AI accelerator cards. Demand for DDR rose 500% year-over-year, while LPDDR demand increased by 400%, according to Counterpoint Research.
HBM remains the more profitable segment of DRAM, with revenue from HBM sales nearly doubling compared with the same quarter last year. Even so, DDR and LPDDR revenues are growing at a faster rate, meaning the overall DRAM market is becoming broader and more diversified than in previous AI cycles.
Price momentum began to moderate in Q3 compared with the first half of 2026, but memory prices are expected to stay elevated in the near term. MS Hwang, Research Director at Counterpoint Research, said that memory prices should remain strong next year, with HBM prices now catching up after lagging commodity DRAM earlier in the cycle. Long-term agreements are helping support pricing, while supply is expected to remain tight because major new fabs will not begin production until 2028.
