Serenity: 2027 DRAM and HBM Output Already Sold Out as Storage Crunch Deepens

Serenity said supply constraints in the memory market are intensifying, with 2027 shaping up to be the "most severe phase" of the storage shortage. Huo Xing Cai Jing reported on Aug. 4, citing Digitimes supply-chain sources, that SK Hynix, Micron (MU) and Samsung Electronics have already fully booked their 2027 DRAM and HBM production capacity. Customers are currently able to lock in only about 60% to 70% of their originally planned demand. Serenity added that annual NAND capacity from SanDisk (SNDK), Samsung Electronics and Micron has also been fully reserved. Kioxia and SK Hynix are expected to complete their capacity allocations by August 2026. While some market watchers had previously expected a storage surplus to emerge by mid-2027, Serenity said recent supply-chain data indicates major memory makers have effectively sold out capacity well in advance, keeping the supply-demand balance tight. The firm noted that allocation quotas between suppliers and customers are largely set, but final product pricing will be determined closer to delivery based on prevailing market conditions. Serenity also pointed to ongoing AI infrastructure buildouts as a key driver of demand for HBM and high-end DRAM, which could become a major factor behind future storage supply constraints.