Serenity: 2027 DRAM/HBM Output Already Fully Allocated; Storage Tightness Set to Persist

According to ChainThink, which cited supply-chain checks from Digitimes on Aug. 4, SK Hynix, Micron (MU) and Samsung Electronics have already fully booked their 2027 DRAM and HBM capacity. Customers are currently able to lock in only around 60% to 70% of their original demand. Serenity said storage supply constraints are proving more severe than the market had expected, warning that 2027 could usher in the "most severe storage shortage phase." On the NAND side, Serenity noted that annual capacity at SanDisk (SNDK), Samsung Electronics and Micron has also been reserved. Kioxia and SK Hynix are expected to finish allocating their NAND capacity by August 2026. While some market views had pointed to a potential storage oversupply by mid-2027, Serenity said current supply-chain conditions indicate major storage makers have effectively sold out their capacity, keeping the market in a tight supply-demand balance. Capacity splits between manufacturers and customers are largely set, with final pricing to be determined closer to delivery based on prevailing market conditions.