High Bandwidth Memory Market Size, Share & Forecast to 2035

The High Bandwidth Memory Market covers the stacked dynamic random-access memory (DRAM) devices, known as high bandwidth memory (HBM), that memory makers sell for mounting beside graphics processing units (GPUs), custom AI accelerators and other processors on a shared package, valued at first sale by the memory maker. DC Market Insights values the global High Bandwidth Memory Market at USD 34.65 billion in 2025 and forecasts USD 162.82 billion by 2035, a CAGR of 16.73%. The 2025 value is built from shipments: about 8.40 million HBM-equipped processors carrying an average of 185 gigabytes (GB) of HBM each gives about 1,554 million GB, and at an average selling price of about USD 22.30 per GB that equals USD 34.65 billion. HBM4 and later generations are the fastest-growing segment at 78.97% a year because NVIDIA’s Rubin and other 2026 flagship accelerators move to the 2,048-bit HBM4 interface, and the Middle East and Africa is the fastest-growing region at 20.14% a year as DC Market Insights expects Saudi Arabia and the United Arab Emirates to add AI accelerator capacity from a small base.

Executive Summary

The Global High Bandwidth Memory Market size was valued at USD 817.92 million in 2020, reached USD 34.65 billion in 2025, and is anticipated to reach USD 162.82 billion by 2035, at a CAGR of 16.73% during the forecast period.

Report attribute	Details
Historical Period	2020-2024
Base Year	2025
Forecast Period	2026-2035
High Bandwidth Memory Market Size 2025	USD 34.65 Billion
High Bandwidth Memory Market, CAGR	16.73%
High Bandwidth Memory Market Size 2035	USD 162.82 Billion

DC Market Insights estimates that the market grew at 111.55% a year between 2020 and 2025, and 2025 alone more than doubled the 2024 value of USD 15.52 billion. SK hynix reported that its HBM revenue more than doubled year on year in 2025, and Micron reported HBM revenue of nearly USD 2 billion in its fiscal fourth quarter of 2025, an annualized run rate of nearly USD 8 billion. DC Market Insights forecasts USD 61.74 billion in 2026, driven by HBM4 price premiums and larger memory per accelerator, and USD 99.34 billion in 2028.

Growth slows to 16.73% a year from 2025 to 2035 for two reasons. Unit growth slows as accelerator shipments mature, rising from 8.40 million processors in 2025 to 24.00 million in 2035, and the price per GB falls from USD 22.30 to USD 10.60 as new HBM capacity from all three memory makers comes online after 2027. Memory per processor keeps rising, from 185 GB to 640 GB, which keeps the market growing even as prices fall.

Market Scope: What Does the High Bandwidth Memory Market Cover?

The High Bandwidth Memory Market covers every HBM stack sold worldwide, valued at the memory maker’s selling price in current US dollars, with 2025 as the base year and forecasts to 2035. DC Market Insights sizes it at USD 34.65 billion in 2025, almost all of it for data center accelerators.

Included. HBM2E, HBM3, HBM3E, HBM4 and HBM4E stacks in every height from 4-high to 16-high, including the logic base die, sold to GPU makers, custom AI accelerator designers, CPU and FPGA makers and networking chip makers, whether shipped to the processor maker or to its packaging partner.

Excluded. Conventional DDR5 server DRAM, LPDDR and SOCAMM modules, GDDR graphics memory, the GPU or accelerator die itself, interposers, substrates and packaging services, and the HBM content of consumer graphics products.

How the segments fit together. Generation, capacity per stack, processor type, application and end-user each re-cut the same USD 34.65 billion total. Regions and countries allocate value to where the HBM-equipped processors are deployed in data centers, not where the memory is made, so South Korea and Taiwan appear by deployment only.

Market Drivers: What Drives the High Bandwidth Memory Market?

Three drivers explain most of the growth in the High Bandwidth Memory Market: memory per accelerator that rises from 185 GB to 640 GB, AI capital spending that took NVIDIA’s fiscal 2026 Data Center revenue to USD 193.70 billion, and multi-year supply agreements that sell out HBM output before it is made.

HBM per Accelerator Rises from 185 GB to 640 GB by 2035

Each new accelerator generation carries more HBM. AMD’s Instinct MI355X carries 288 GB of HBM3E with 8 TB/s of memory bandwidth, and NVIDIA’s Rubin GPU carries 288 GB of HBM4 arranged in eight stacks. Custom accelerators follow the same path: Google’s Ironwood TPU offers 192 GB of HBM per chip, and AWS Trainium3 carries 144 GB of HBM3e. DC Market Insights estimates the average HBM content of an HBM-equipped processor at 185 GB in 2025 and forecasts 360 GB in 2028 and 640 GB in 2035, the single largest driver of the High Bandwidth Memory Market. Accelerator shipments behind these figures are covered in the Data Center Accelerator Market report.

AI Capital Spending Lifts NVIDIA Data Center Revenue to USD 193.70 Billion

HBM demand follows accelerator demand. NVIDIA reported fiscal 2026 revenue of USD 215.90 billion, with Data Center revenue up 68% to a record USD 193.70 billion. NVIDIA said in January 2026 that Rubin was in full production, with Rubin-based products available from partners in the second half of 2026; a Vera Rubin NVL72 rack combines 72 Rubin GPUs and 36 Vera CPUs. DC Market Insights estimates that merchant GPUs took 71.8% of HBM value in 2025.

Supply Agreements Sell Out HBM Output Through 2027

Buyers now contract HBM a year or more ahead. Micron said on its December 2025 earnings call that it had completed agreements on price and volume for its entire calendar 2026 HBM supply, and on its fiscal fourth-quarter 2026 earnings call at the end of September 2026 that it had completed agreements for the vast majority of its calendar 2027 HBM bit supply with significant price increases. Samsung said it expects its HBM sales to more than triple in 2026 compared with 2025. DC Market Insights builds a rise in the average price per GB from USD 22.30 in 2025 to USD 25.10 in 2027 into the forecast.

Market Trends: How Is HBM Technology Changing?

The High Bandwidth Memory Market is moving to HBM4 in 2026, with a 2,048-bit interface, taller stacks and logic base dies made on foundry processes, and HBM4 and later generations are forecast to reach 93.3% of value by 2035.

HBM4 Doubles the Interface to 2,048 Bits

The JEDEC Solid State Technology Association published the JESD270-4 HBM4 standard in April 2025, with transfer speeds of up to 8 Gb/s across a 2,048-bit interface and total bandwidth of up to 2 TB/s per stack. Memory makers ship above that speed: Samsung’s HBM4 runs at a consistent 11.7 Gbps with up to 3.3 TB/s per stack, SK hynix said its HBM4 exceeds 10 Gbps, and Micron said its HBM4 runs at over 11 gigabits per second. DC Market Insights forecasts HBM4 and later generations, 1.3% of value in 2025, to reach USD 151.91 billion by 2035.

Stacks Grow from 12-High to 16-High and 48 GB

Capacity per stack rises with stack height. Samsung’s 12-layer HBM4 offers 24 GB to 36 GB, and Samsung plans 16-layer stacks of up to 48 GB. Micron has sampled an HBM4 16-high product with 48 GB per cube, 33% more than its 12-high part. Stacks of 36 GB and above held 32.5% of 2025 value and are forecast to reach 89.5% by 2035.

Logic Base Dies Move to Foundry Processes

From HBM4, the base die at the bottom of each stack becomes a logic chip that can be customized. SK hynix and TSMC agreed in April 2024 to use TSMC’s advanced logic processes for the HBM4 base die and to improve integration of SK hynix HBM with TSMC’s CoWoS packaging. Samsung’s HBM4 uses a 4 nm logic base die, and Samsung reported that HBM base-die demand helped its foundry business in the second quarter of 2026. Custom HBM samples from Samsung are due to reach customers in 2027.

Market Challenges: What Holds the High Bandwidth Memory Market Back?

Cleanroom space and export controls are the two constraints that DC Market Insights expects to cap the High Bandwidth Memory Market below its high case, worth USD 191.47 billion by 2035.

Cleanroom Shortages Limit Bit Supply Until 2027

HBM competes with other DRAM for the same cleanrooms. Micron said in March 2026 that cleanroom constraints, long construction lead times and a higher HBM trade ratio constrain DRAM bit supply growth, and that it expects fiscal 2027 capital spending to step up meaningfully for HBM and DRAM. SK hynix cites the opening of the Yongin Phase 1 cleanroom, expected in early 2027. DC Market Insights expects price per GB to stay above USD 24.00 until new capacity arrives, then fall to USD 18.90 in 2028.

Export Controls Restrict HBM Sales to China

On December 2, 2024, the US Department of Commerce’s Bureau of Industry and Security (BIS) added HBM stacks with memory bandwidth density above 2 GB per second per square millimeter to export control classification 3A090.c. Exports of these items to Macau or Country Group D:5, which includes China, now require a license. DC Market Insights estimates China’s share of global HBM value at 7.8% in 2025.

Market Opportunities: Where Are the New Revenue Pools?

The two largest new revenue pools in the High Bandwidth Memory Market are custom AI accelerators, growing at 22.68% a year, and AI inference, which overtakes training by 2030 and grows at 21.88% a year.

Custom AI Accelerators Grow from USD 7.87 Billion to USD 60.73 Billion

Cloud providers design their own accelerators and buy HBM for them. Broadcom’s 3.5D XDSiP platform for custom accelerators integrates more than 6,000 mm2 of silicon and up to 12 HBM stacks in one packaged device. DC Market Insights forecasts custom AI ASICs to lift their share of HBM value from 22.7% in 2025 to 37.3% in 2035. The chips themselves are covered in the AI Chip Market report.

AI Inference Reaches USD 92.48 Billion by 2035

DC Market Insights assumes inference accelerators carry HBM content close to that of training parts. DC Market Insights values inference at USD 12.79 billion (36.9%) in 2025 and forecasts USD 92.48 billion (56.8%) by 2035.

Pricing: How Much Does HBM Cost per GB?

HBM sold for an average of about USD 22.30 per GB in 2025, and an HBM-equipped processor carried about USD 4,125.50 of HBM. These are DC Market Insights estimates across all generations and stack heights, at the memory maker’s selling price.

HBM pricing and content	2020	2025	2027	2030	2035
Average price (USD per GB)	28.40	22.30	25.10	15.00	10.60
HBM per processor (GB)	32	185	300	460	640
HBM-equipped processors (million)	0.90	8.40	12.60	17.60	24.00

DC Market Insights expects price per GB to rise from 2025 to 2027 as HBM4 enters volume and supply stays sold out, then to fall by about 10.2% a year from 2027 to 2035 as yields mature and new fabs and packaging lines open. HBM content per processor rises faster than price falls until 2028, which is why the market keeps growing.

Standards and Regulation: Which Rules Shape HBM?

Two sets of rules shape the High Bandwidth Memory Market: the JEDEC HBM standards that fix the interface, and US export controls that decide where HBM may be shipped.

JEDEC JESD270-4 (April 2025). The HBM4 standard supports 4-high, 8-high, 12-high and 16-high stacks with 24 Gb or 32 Gb dies, up to 64 GB per stack (32 Gb, 16-high), and doubles the independent channels from 16 in HBM3 to 32, with 2 pseudo-channels per channel. Memory makers compete on how far above the 8 Gb/s base speed they can run.

US export controls (December 2024). The BIS interim final rule created ECCN 3A090.c for HBM above 2 GB per second per square millimeter and a new License Exception HBM for stacks below 3.3 GB per second per square millimeter shipped directly to a packaging site by companies headquartered in the United States or Country Group A:5. Applications from companies that are not headquartered in, and whose ultimate parent is not headquartered in, Macau or Country Group D:5 receive a presumption of approval; all others receive a presumption of denial.

Supplier filings. Memory makers disclose HBM only in part. Micron’s fiscal 2026 results filed with the US Securities and Exchange Commission report revenue of USD 133.19 billion, against USD 37.38 billion a year earlier, and Cloud Memory Business Unit revenue, which includes HBM, of USD 16.28 billion in the fourth quarter.

Market Segmentation: Which Segment Leads the High Bandwidth Memory Market?

DC Market Insights estimates that HBM3E leads the High Bandwidth Memory Market with 84.3% of 2025 value, merchant GPUs lead processor types with 71.8%, and hyperscale cloud providers lead buyers with 61.2%. HBM4 and later generations are the fastest-growing segment at 78.97% a year, because NVIDIA’s Rubin and other 2026 flagship accelerators move to HBM4 and all three memory makers began volume HBM4 shipments in 2026.

By Generation: HBM3E Leads with 84.3%

Generation	2025 (USD billion)	Share 2025	2035 (USD billion)	CAGR 2025-2035
HBM2E and Earlier	0.90	2.6%	0.24	-12.24%
HBM3	4.09	11.8%	0.57	-17.89%
HBM3E	29.21	84.3%	10.09	-10.08%
HBM4 and Later	0.45	1.3%	151.91	78.97%

DC Market Insights estimates that HBM3E carried most accelerator shipments in 2025. HBM4 and later generations take 93.3% of value by 2035, while HBM3E falls to USD 10.09 billion as it moves to lower-cost inference parts.

By Capacity per Stack: 24 GB Stacks Lead with 49.6%

Capacity per stack	2025 (USD billion)	Share 2025	2035 (USD billion)	CAGR 2025-2035
Up to 16 GB	6.20	17.9%	1.79	-11.68%
24 GB	17.19	49.6%	15.30	-1.15%
36 GB and Above	11.26	32.5%	145.72	29.18%

The 24 GB class led 2025 in the DC Market Insights model. Stacks of 36 GB and above grow at 29.18% a year and take 89.5% of value by 2035.

By Processor Type: Merchant GPUs Lead with 71.8%

Processor type	2025 (USD billion)	Share 2025	2035 (USD billion)	CAGR 2025-2035
Merchant GPUs	24.88	71.8%	95.41	14.39%
Custom AI ASICs	7.87	22.7%	60.73	22.68%
CPUs, FPGAs and Other	1.91	5.5%	6.68	13.35%

Merchant GPUs from NVIDIA and AMD buy most HBM, but custom AI ASICs grow faster at 22.68% a year. CPUs, FPGAs and other processors, including Intel’s Gaudi 3 accelerator with 128 GB of HBM2e, hold 5.5%.

By Application: Generative AI Training Leads with 53.6%

Application	2025 (USD billion)	Share 2025	2035 (USD billion)	CAGR 2025-2035
Generative AI Training	18.57	53.6%	58.94	12.24%
AI Inference	12.79	36.9%	92.48	21.88%
HPC and Scientific Computing	2.22	6.4%	7.16	12.44%
Networking and Other	1.07	3.1%	4.23	14.70%

DC Market Insights estimates that training led in 2025. AI inference is the fastest-growing application at 21.88% a year. HPC and scientific computing holds 6.4%, and networking and other uses 3.1%.

By End-user: Hyperscale Cloud Providers Lead with 61.2%

End-user	2025 (USD billion)	Share 2025	2035 (USD billion)	CAGR 2025-2035
Hyperscale Cloud Providers	21.21	61.2%	94.27	16.09%
GPU and Neocloud Providers	6.03	17.4%	28.98	17.00%
Enterprise and Sovereign AI	5.16	14.9%	32.73	20.28%
Government and Research HPC	2.25	6.5%	6.84	11.74%

Hyperscale cloud providers buy HBM through both merchant GPUs and their own accelerators. Enterprise and sovereign AI buyers grow fastest at 20.28% a year as governments and large companies build national and private AI clusters, while government and research HPC grows slowest at 11.74%.

DC Exclusive: The HBM Bit-Value Model and Generation × Processor Matrix

At USD 21.45 billion in 2025, HBM3E sold for merchant GPUs is the single largest cell of the matrix and 61.9% of all HBM value. The matrix cross-tabulates the two splits that memory buyers and investors ask about most: which generation is bought, and for which kind of processor.

2025, USD billion	Merchant GPUs	Custom AI ASICs	CPUs, FPGAs and Other	Total
HBM2E and Earlier	0.36	0.31	0.22	0.90
HBM3	2.72	0.97	0.40	4.09
HBM3E	21.45	6.50	1.27	29.21
HBM4 and Later	0.35	0.09	0.01	0.45
Total	24.88	7.87	1.91	34.65

Merchant GPUs spend 86.2% of their HBM budget on HBM3E, while custom AI ASICs still spend 16.3% on HBM3 and earlier generations in the DC Market Insights model. CPUs, FPGAs and other processors spend 33.0% of their HBM budget on HBM3 and earlier parts. The HBM4 row is small in 2025 because volume HBM4 shipments began in 2026.

The matrix is a DC Market Insights model, not a shipment count. It is built from 48 inputs: 16 annual processor shipment counts, 16 annual HBM-per-processor values and 16 annual price-per-GB values (2020 to 2035), each split by 4 generations and 3 processor types, and checked against the HBM revenue and market outlook disclosed by Micron and the growth disclosed by SK hynix and Samsung. Multiplying processors by GB per processor by price per GB gives the market for each year. The model and its assumptions are explained on our research methodology page.

Regional Insights: Which Region Leads the High Bandwidth Memory Market?

DC Market Insights estimates that North America leads the High Bandwidth Memory Market with 58.4% of 2025 value, and the Middle East and Africa is the fastest-growing region at 20.14% a year, because DC Market Insights expects Saudi Arabia and the United Arab Emirates to add AI accelerator capacity from a small base.

North America Leads with 58.4% Share

DC Market Insights estimates that processors deployed in North American data centers carried USD 20.24 billion of HBM in 2025, and DC Market Insights forecasts USD 84.34 billion by 2035, a CAGR of 15.34%. In the DC Market Insights model, the United States accounts for 92.1% of regional value. North America loses 6.6 points of share by 2035 as other regions build their own AI capacity.

Asia Pacific Holds 24.6% Share

Asia Pacific is worth USD 8.52 billion in 2025 and USD 45.43 billion by 2035, a CAGR of 18.21%. In the DC Market Insights model, China is the largest country market in the region, but US export controls cap the value of HBM shipped into China, and DC Market Insights forecasts India to grow fastest.

Europe Holds 10.3% Share

Europe is worth USD 3.57 billion in 2025 and USD 18.89 billion by 2035, a CAGR of 18.13%. The United Kingdom, Germany and France are the three largest European country markets in the DC Market Insights model.

Middle East and Africa Holds 4.2% Share

The Middle East and Africa is worth USD 1.46 billion in 2025 and USD 9.12 billion by 2035, the fastest growth of any region at 20.14% a year. DC Market Insights allocates to Saudi Arabia and the United Arab Emirates 71.5% of regional value in 2025.

Latin America Holds 2.5% Share

Latin America is worth USD 866.36 million in 2025 and USD 5.05 billion by 2035, a CAGR of 19.27%.

Country Analysis: Which Countries Deploy the Most HBM?

DC Market Insights estimates that the United States is the largest country market for HBM at USD 18.64 billion in 2025, 53.8% of global value, followed by China at USD 2.71 billion (7.8%) and Japan at USD 1.60 billion (4.6%). The 12 largest countries account for 87.6% of 2025 value.

Rank	Country	Region	2025 (USD billion)	Share 2025	2035 (USD billion)	CAGR 2025-2035
1	United States	North America	18.64	53.8%	76.07	15.10%
2	China	Asia Pacific	2.71	7.8%	11.90	15.94%
3	Japan	Asia Pacific	1.60	4.6%	7.99	17.43%
4	Canada	North America	1.60	4.6%	8.27	17.85%
5	South Korea	Asia Pacific	1.12	3.2%	5.81	17.94%
6	United Kingdom	Europe	0.89	2.6%	4.36	17.29%
7	India	Asia Pacific	0.83	2.4%	6.90	23.64%
8	Germany	Europe	0.76	2.2%	3.95	17.85%
9	Australia	Asia Pacific	0.61	1.7%	3.59	19.48%
10	France	Europe	0.56	1.6%	3.06	18.58%
11	Saudi Arabia	Middle East and Africa	0.55	1.6%	3.67	20.79%
12	United Arab Emirates	Middle East and Africa	0.49	1.4%	3.20	20.74%

India is the fastest-growing country market at 23.64% a year, ahead of Saudi Arabia at 20.79% and the United Arab Emirates at 20.74%, as GPU cloud and sovereign AI capacity grows from a small base. The country figures are a DC Market Insights allocation of the regional totals, weighted by each country’s estimated share of installed and new AI accelerator capacity.

Forecast Scenarios: How Could the 2035 Forecast Change?

The High Bandwidth Memory Market reaches USD 162.82 billion by 2035 in the base case, with a range of USD 129.13 billion to USD 191.47 billion across the low and high scenarios.

Scenario	Assumption from 2026	2035 (USD billion)	CAGR 2025-2035
Low	Processor shipments 12% below base; price per GB 10% below base by 2035	129.13	14.06%
Base	Shipments reach 24.00 million; 640 GB per processor; USD 10.60 per GB	162.82	16.73%
High	HBM per processor 10% above base; supply tightness keeps prices 7% higher	191.47	18.64%

The low case is what a pause in AI capital spending after 2027 looks like: accelerator orders slip just as new HBM fabs open, and prices fall faster. The high case assumes 16-high stacks become standard sooner and prices stay closer to their 2027 level. DC Market Insights sees alternative memory such as SOCAMM and CXL-attached DRAM as the main swing factor for inference parts, where some capacity can move off-package.

Competitive Insights: Who Leads the High Bandwidth Memory Market?

• SK hynix
• Samsung Electronics
• Micron Technology
• TSMC
• NVIDIA
• AMD
• Google
• Amazon Web Services
• Broadcom
• Intel

SK hynix is the market leader with about half of 2025 HBM revenue, and SK hynix, Samsung Electronics and Micron Technology together supply more than 95% of the market (both DC Market Insights estimates, based on company disclosures). SK hynix reported 2025 revenue of KRW 97.1467 trillion, with HBM revenue more than doubling, and said in September 2025 that it had completed the preparation stages to mass produce HBM4, which it described as an industry first. Micron’s annualized HBM run rate of nearly USD 8 billion in its fiscal fourth quarter of 2025 equals about 23% of the DC Market Insights 2025 market value, and Micron said in September 2025 that it had six HBM customers. Samsung began shipping commercial HBM4 in February 2026 (Source: Samsung newsroom) and shipped HBM4E samples in the second quarter of 2026. Under a 2024 agreement, SK hynix uses TSMC’s advanced logic processes for its HBM4 base die, and the two companies work to integrate SK hynix HBM with TSMC’s CoWoS packaging. NVIDIA’s Rubin and AMD’s MI355X merchant GPUs each carry 288 GB of HBM; Google’s Ironwood and AWS Trainium3 accelerators carry 192 GB and 144 GB; Broadcom’s custom accelerator platform takes up to 12 HBM stacks; Intel’s Gaudi 3 uses HBM2e.

Recent Developments

• In September 2025, SK hynix completed HBM4 development and prepared for mass production, with 2,048 I/O terminals, over 10 Gbps operating speed and more than 40% better power efficiency (Source: SK hynix press release).
• In December 2025, Micron said it had completed price and volume agreements for its entire calendar 2026 HBM supply (Source: Micron earnings call).
• In February 2026, Samsung began shipping commercial HBM4 with a consistent 11.7 Gbps speed and up to 3.3 TB/s of bandwidth per stack (Source: Samsung newsroom).
• In March 2026, Micron reported volume shipments of HBM4 36GB 12H designed for NVIDIA Vera Rubin and sampled a 48 GB 16-high HBM4 product (Source: Micron earnings call prepared remarks).
• In July 2026, SK hynix reported that it began mass shipments of HBM4 in the second quarter of 2026, and Samsung reported shipping the industry’s first HBM4E samples to major customers (Source: SK hynix and Samsung quarterly results).
• In September 2026, Micron said it had completed agreements for the vast majority of its calendar 2027 HBM bit supply with significant price increases (Source: Micron earnings call).

We follow these launches, supply agreements and capacity announcements as they happen in our data center industry updates.

Methodology: How We Built the High Bandwidth Memory Market Model

DC Market Insights built this market bottom-up from 16 annual cohorts (2020 to 2035) of HBM-equipped processors, each multiplied by an average HBM content in GB and an average selling price per GB. In 2025, 8.40 million processors with 185 GB each at USD 22.30 per GB give USD 34.65 billion; in 2035, 24.00 million processors with 640 GB each at USD 10.60 per GB give USD 162.82 billion. The total was split by 4 generations, 3 capacity classes, 3 processor types, 4 applications, 4 end-users and 5 regions, and every split sums to the market total. The result was checked top-down against three disclosures: Micron’s outlook of an HBM market of about USD 35 billion in 2025 and around USD 100 billion in 2028 (the model gives USD 34.65 billion and USD 99.34 billion), Micron’s HBM run rate of nearly USD 8 billion in its fiscal fourth quarter of 2025, and SK hynix’s report that its HBM revenue more than doubled in 2025 (the model grows 2.23 times). Country values allocate each regional total by country weights for installed and new AI accelerator capacity. Processor specifications come from NVIDIA, AMD, Google, AWS and Intel, and HBM specifications from JEDEC and the three memory makers. The analyst named on this page built the model, and the reviewer checked the arithmetic, the sources and the dates before publication.