Goldman Sachs: Humanoid Robot Onboard Memory Value Estimated at $600–$800 Per Unit

Odaily News: Paradis posted on X platform, stating that Goldman Sachs pointed out that memory in humanoid robots is expected to account for up to 40% of their semiconductor value, excluding GPU and CPU.

Goldman Sachs noted that while memory configurations may vary, their assumption is that each humanoid robot carries an average of approximately 128GB of DRAM memory and about 1TB of NAND non-volatile memory. Based on this assumption, the serviceable addressable market per unit for DRAM is $250–$350, for NAND is $350–$450, bringing the total memory serviceable addressable market per unit to $600–$800 or higher.

Given the high edge computing loads in humanoid robots, Goldman Sachs expects at least part of the memory in each system to adopt HBM. HBM is primarily supplied by Micron, Samsung, and SK Hynix, and in the short term, Chinese memory manufacturers, including ChangXin Memory Technologies (CXMT), may face limited competition. Whether humanoid robot manufacturers will source HBM and traditional DRAM separately from different suppliers remains to be seen.

DRAM and NAND memory prices may fluctuate, but Goldman Sachs used approximate market prices at the time of writing in its assumptions, as many long-term agreements have already been signed at these price levels.