HBM price outlook tightens as Rubin and HBM4 absorb DRAM capacity

This is one of the clearest near-term pricing signals in the current memory cycle. The report links higher HBM production costs with a demand step-up from Rubin and more DRAM capacity being committed through long-term agreements. If that pattern holds, the effect reaches beyond HBM: conventional DRAM supply could stay constrained as suppliers prioritize higher-value AI memory capacity.