UBS predicts that the HBM4 architecture will become the mainstream memory standard and is expected to account for 39% of global HBM demand in 2027, up from 17% estimated in 2026. HBM3E 12‑Hi's market share will shrink from 65% expected in 2026 to 30% in 2027 as next-generation AI accelerators are launched one after another. This round of technological iteration has driven advanced packaging and customized logic substrates into mass production, boosting the actual transaction prices of fabs. According to UBS estimates, the share of demand for the HBM3E 8‑Hi will rise from 8% in 2026 to 17% in 2027; the new generation of the HBM4E will have a 9% share, while the old HBM3 will shrink to 5%. The Nvidia VR300 accelerator uses an 8‑Hi stacking scheme, reflecting the industry's selective reduction in graphics memory stacking specifications. The main implementation risk comes from the fab's substrate manufacturing and substrate yield; once a capacity bottleneck occurs, it will block the HBM4 implementation process and cause the old HBM3E to overcapacity.

UBS predicts that the HBM4 architecture will become the mainstream memory standard and is expected to account for 39% of global HBM demand in 2027, up from 17% estimated in 2026. As next-generation AI accelerators are launched one after another, HBM3E 12‑Hi's market share will shrink from 65% expected in 2026 to 30% in 2027. This round of technological iteration has driven advanced packaging and customized logic substrates into mass production, boosting the actual transaction prices of fabs. According to UBS estimates, the share of demand for the HBM3E 8‑Hi will rise from 8% in 2026 to 17% in 2027; the new generation of the HBM4E will have a 9% share, while the old HBM3 will shrink to 5%. The Nvidia VR300 accelerator uses an 8‑Hi stacking scheme, reflecting the industry's selective reduction in graphics memory stacking specifications. The main implementation risk comes from the fab's substrate manufacturing and substrate yield; once a capacity bottleneck occurs, it will block the HBM4 implementation process and cause the old HBM3E to overcapacity.