TLDR
- Samsung Electronics surged 5.4% to a record 190,900 won Thursday after reports HBM4 chips are being negotiated at ~$700 per unit.
- The $700 price is 20%–30% higher than the previous HBM3E generation.
- HBM4 carries an estimated operating profit margin of 50%–60%, per Bloomberg Intelligence.
- Samsung started HBM4 mass production last week and has already shipped to customers.
- SK Hynix, which priced HBM4 at mid-$500s for Nvidia, may now raise prices to match Samsung.
Samsung shares climbed to an all-time high Thursday after a report from South Korean newspaper Chosun Ilbo said the company is negotiating prices for its HBM4 AI memory chips at approximately $700 per unit.
Markets had been closed for a three-day holiday, and Samsung came back with a bang — jumping as much as 5.4% on the Korea Exchange to 190,900 won. The company declined to comment on the report.
The $700 figure sits 20% to 30% above what Samsung was charging for its previous HBM3E chips. Bloomberg Intelligence analyst Masahiro Wakasugi estimated that price point would deliver an operating profit margin of 50% to 60% on HBM4 — a strong improvement over prior generation returns.
A Tighter Market Is Lifting Prices
Charu Chanana, chief investment strategist at Saxo Markets, said the pricing report reflects a market that is still running tight. “It is a sign that the AI memory market is still tight, and that Samsung believes it has regained some pricing leverage at the premium end,” she said.
Samsung had been playing catch-up with SK Hynix after falling behind in the early stages of the AI memory race. That narrative is shifting. Last week, Samsung confirmed it had started mass production of HBM4 chips and had already shipped commercial products to customers — ahead of many market expectations.
SK Hynix had locked in its HBM4 price for Nvidia at mid-$500s per unit back in August. Chosun Ilbo, citing unnamed industry sources, reported SK Hynix may now look to match Samsung’s higher asking price.
What Higher Prices Mean for Both Companies
If Samsung wins more HBM supply deals with Nvidia at the $700 level, Bloomberg Intelligence’s Wakasugi said the average selling price gap between Samsung and SK Hynix would narrow through 2026.
SK Hynix also gained Thursday, rising 1.59% on the Korea Exchange — a sign the market sees the pricing shift as a win for the broader HBM sector, not just Samsung.
South Korea’s Kospi index has now risen 34% this year, making it the best-performing major stock market in the world. Samsung and SK Hynix have been central to that run.
Nvidia Demand Keeps the Floor High
Adding to the positive backdrop, Nvidia — one of Samsung’s key customers — received a boost Wednesday after Meta Platforms agreed to deploy millions of its AI processors over the next several years. That deal keeps the demand picture for high-end AI memory chips intact.
Samsung’s HBM4 production ramp is already underway, with commercial shipments confirmed as of last week.
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