This is one of the most important visuals for memory stock investors right now and once you understand what it's showing…
Milk Road AI Twitter · Milk Road AI (@MilkRoadAI) · 2026-06-30
Milk Road AI argues Micron is positioned for sustained, structural growth because each successive Nvidia GPU generation demands dramatically more HBM memory, with the global HBM market projected to grow 42% annually through 2033 and major suppliers already sold out through year-end.
Appears in
Extraction
Topics: hbm-memoryai-infrastructuresemiconductor-stocksnvidia-gpu-generationsmicron
Claims
- Nvidia GPU HBM requirements have compounded from 80GB on the H100 to 288GB on the B300 in four years.
- A single Nvidia GB200 NVL72 rack containing 72 Blackwell GPUs requires over 13,000GB of HBM.
- Major HBM suppliers SK Hynix and Micron have already sold out their entire HBM production capacity through the end of 2026.
- Bank of America projects the global HBM market will grow 58% in 2026 alone to $54.6 billion.
- The HBM market is projected to grow at a 42% annualized rate through 2033.
Key quotes
HBM is the opposite because it is custom engineered to fit a specific customer's chip, co-designed between the memory maker and the GPU designer, with SK Hynix's Vice President literally describing it as shifting from a commodity to a customer-tailored custom business.
The HBM market is projected to grow at a 42% annualized rate through 2033 and every new Nvidia chip generation ensures the memory requirement per GPU keeps compounding upward.
This isn't just a history of RAM getting bigger but rather a forward revenue roadmap for Micron for the rest of the decade.