SemiAnalysis: Nvidia System Memory Spending Share Expected to Exceed 40% by 2027

Odaily Odaily reports that SemiAnalysis posted on X platform, stating that the proportion of memory in hyperscaler capital expenditure has sparked considerable discussion, especially after MU's earnings report last week. Some market participants were surprised by the potential level this ratio could reach next year. SemiAnalysis published its initial views in late February, and many clients disagreed with its 30% figure. In May, after pricing increases exceeded expectations, SemiAnalysis responded that, when combining DRAM, NAND, and HBM spending, memory expenditure in Nvidia systems would exceed 30% by the end of 2026 and surpass 40% by 2027. SemiAnalysis expects this dynamic to gain greater understanding in the coming months.