Memory chip concept stocks collectively strengthened! Today, in the A-share market, memory chip concept stocks displayed a V-shaped rebound trajectory. During the session, the memory chip index once saw a decline approaching 1.8%, before subsequently experiencing a significant surge and turning positive. As of the time of writing, the memory chip index has gained over 1.8%, with Dosilicon Co.,Ltd. hitting a 20% limit-up, Puya Semiconductor(Shanghai)Co.,Ltd. rising over 16%, and companies like Focuslight Technologies Inc., Fuman Micro, and Henshine Semiconductor surging more than 12%. In the South Korean stock market, memory chip concept stocks also recorded substantial gains; SK Hynix saw an intraday surge of nearly 8%, reaching a historical high, while Samsung Electronics also experienced an intraday increase of over 3%, coming within a whisker of the record high set the previous Thursday. Reports emerged that day indicating SK Hynix will be the exclusive supplier of HBM3E chips for Microsoft's Maia 200. Previously, Microsoft had unveiled its new generation of high-performance AI inference chip, the Maia 200.
After consolidating at high levels for several trading days, A-share memory chip concept stocks surged once again today. Among them, Dosilicon Co.,Ltd. opened higher and continued to climb, experiencing multiple intraday rallies before hitting a firm 20% limit-up around 10:22 AM. As of the latest update, the blocked order volume for Dosilicon's limit-up board still exceeded 1 billion yuan. Spurred by Dosilicon's performance, other memory chip concept stocks also rallied. At the time of writing, Puya Semiconductor(Shanghai)Co.,Ltd. was up over 16%, Focuslight Technologies Inc., Fuman Micro, and Henshine Semiconductor gained over 12%, Kingsemi rose more than 11%, Xingfu Electronic increased over 10%, Konkon Electronic hit a 10% limit-up, and stocks like China Micro Semiconductor, GigaDevice, Ingenic Semiconductor, and Maxscend Microelectronics followed suit.
Market analysts pointed out that the sharp rise in the share prices of South Korean memory chip giants is one of the factors stimulating the strength of related A-share concept stocks. On Tuesday, SK Hynix's stock price surged nearly 8%, reaching a record high. As of the latest update, SK Hynix's gains remained above 7%, with its total market capitalization breaking through 570 trillion won, approximately equivalent to 2.75 trillion yuan. Foreign media reported that SK Hynix has been selected as the exclusive supplier of High Bandwidth Memory (HBM) for Microsoft's artificial intelligence (AI) chip, the Maia 200. It is reported that the chip is equipped with HBM3E memory totaling 216GB, featuring six 12-layer HBM3E memory modules, each with a capacity of 36GB.
On Monday local time, Microsoft officially launched the Maia 200, a high-performance core computing chip designed for the scaled deployment of AI inference. Microsoft stated that the new chip will first be deployed this week in a data center in Iowa, USA, with plans to add a second deployment site in Arizona subsequently. As an upgrade to the Maia 100 launched in 2023, Microsoft stated that the Maia 200 features technological enhancements, enabling it to run high-performance AI models faster and with greater energy efficiency. The chip integrates over 100 billion transistors, delivering computational power exceeding 10 petaflops at 4-bit precision and approximately 5 petaflops at 8-bit precision, representing a significant improvement over the previous generation. Microsoft hopes the Maia 200 will be a key product driving this optimization, helping AI companies achieve more stable operations and lower energy consumption. Microsoft stated, "In practical applications, a single-node Maia 200 can easily run the largest AI models currently available and reserves ample computational headroom for future, even larger-scale model computations."
Two other pieces of news also provided a boost to memory chip concept stocks. First, a January 25th report by South Korea's Electronic Times stated that Samsung Electronics raised NAND flash supply prices by over 100% in the first quarter of this year, a increase far exceeding previous market expectations and highlighting the severe supply-demand imbalance in the current memory chip market. Second, Micron Technology announced on Tuesday that it will invest an additional $24 billion in Singapore over the next decade to expand production capacity in response to the memory chip shortage triggered by the artificial intelligence (AI) boom. The memory chip giant stated it will build a new NAND factory in Singapore. Reportedly, NAND is a storage technology faster than mechanical hard drives, and its demand is rising as AI infrastructure construction accelerates.
Currently, the global memory chip market is dominated by Micron Technology and its South Korean competitors, SK Hynix and Samsung Electronics. These three companies have recently prioritized production of high-end memory chips required for AI computing infrastructure, leading to supply shortages for traditional memory chips used in personal computers and mobile phones. According to TrendForce data, global server shipment growth is projected at 12.8% annually by 2026, with AI server shipment growth exceeding 28% annually, an increase from the 24.2% growth anticipated for 2025, primarily driven by significant increases in AI infrastructure investment by global CSPs. Benefiting from the acceleration of AI infrastructure build-out, memory price increases are continuing. TrendForce data indicates that the output value of the memory industry, including DRAM and NAND Flash, is hitting new highs year by year, estimated to grow 134% year-on-year to $551.6 billion in 2026, and then continue growing 53% year-on-year to $842.7 billion in 2027. Recently, DRAM prices have shown a strong upward trend, directly reflecting robust demand for high-performance memory from AI servers, among other applications.
Datong Securities pointed out that due to AI accelerator chips (GPU/ASIC) occupying priority capacity in advanced process nodes at companies like TSMC and Samsung, the capacity space for traditional server CPUs is being squeezed. Concurrently, supply strategy adjustments by memory manufacturers are driving significant fluctuations in NAND and DRAM prices. This shift in the supply-demand environment has drawn market attention to the bargaining position of semiconductor manufacturers mastering advanced manufacturing and core technologies within the industry chain. From an industrial logic perspective, companies in similar segments may see their short-term profit structures and supply-demand relationships potentially reshaped, suggesting a focus on computing power and storage sectors. Donghai Securities also stated that, benefiting from the AI wave, relevant domestic A-share companies are expected to achieve substantial full-year earnings growth in 2025, recommending attention to computing power chips, semiconductor equipment, memory, and other related标的.
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